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Reviewing board minutes—checklist

Reviewing board minutes—checklist STOP PRESS: The Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) received Royal Assent on 26 October 2023. ECCTA 2023, Pt 1 contains a substantive package of proposals enhancing the role of Companies House and increasing the transparency of UK corporate entities. The provisions of the ECCTA 2023 come into force over an extended period. Many of the provisions in the legislation require detailed secondary legislation and guidance, and the construction of new technical processes and tools to implement the reforms. For more information, see Practice Notes: The Economic Crime and Corporate Transparency Act 2023—what Banking & Finance lawyers need to know, The Economic Crime and Corporate Transparency Act 2023—tracker and Corporate transparency reform—changes to company registers. Board minutes As part of the pre-completion process and satisfaction of the conditions precedent, lawyers acting for a lender in a typical financial transaction need to review the board minutes of the borrower, guarantor and any security provider. Following a board meeting of a company, the directors must...

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Deemed domicile for tax from 6 April 2017 to 5 April 2025

Deemed domicile for tax from 6 April 2017 to 5 April 2025 STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime Finance Act 2025 (FA 2025) which received Royal Assent on 20 March 2025, implements legislation to abolish the remittance basis of taxation and replace it with a residence-based regime, commencing on 6 April 2025. FA 2025 also replaces domicile as the key factor in establishing liability to inheritance tax. Other changes include amendment of the rules determining excluded property status, the abolition of protected settlements status of offshore trusts, and changes to overseas workday relief. For information on these changes, see Practice Notes: The abolition of the remittance basis of taxation from 2025–26 and A new residence-based regime for IHT from 2025–26. See also: Finance Bill Tracking Service: Key dates (Finance Bill 2025) and Finance Act 2025. At Summer Budget 2015, the government announced wide-ranging reforms to the deemed domicile rules and also to the excluded property rules...

Boilerplate clauses in business-to-consumer contracts—general principles

Boilerplate clauses in business-to-consumer contracts—general principles This Practice Note sets out the law on the use of boilerplate provisions in business-to-consumer (B2C) contracts. As well as providing details on the Consumer Rights Act 2015 (CRA 2015) (which regulates unfair terms in B2C contracts), it also looks at the Competition and Markets Authority (CMA) guidance ‘Unfair contract terms: CMA37’. For discussion on the use of specific boilerplate provisions in B2C contracts, namely adjudication, alternative dispute resolution (ADR), arbitration, assignment, definitions and interpretation, entire agreement, force majeure, governing law, jurisdiction, variation and waiver, see Practice Note: Boilerplate clauses in business-to-consumer contracts—specific clauses. For more information on the use of standard terms and conditions in B2C contracts generally, see Practice Notes: • Consumer standard terms and conditions—the business context • Consumer standard terms and conditions—the advertising and marketing context, and • Consumer standard terms and conditions—incorporation For our suite of template B2C contracts and drafting tips, see: Trading with consumers—overview and Drafting consumer contracts—checklist. What is ‘boilerplate’? ‘Boilerplate’ is a term used...

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Standard revocation and commencement of Will clause

Standard revocation and commencement of Will clause STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime. Finance Act 2025 (FA 2025) which received Royal Assent on 20 March 2025, implements legislation to abolish the remittance basis of taxation and replace it with a residence-based regime, commencing on 6 April 2025. FA 2025 also replaces domicile as the key factor in establishing liability to inheritance tax. Other changes include amendment of the rules determining excluded property status, the abolition

Explanatory note for a client's Will—to spouse on flexible life interest trust with remainder on discretionary trust

Explanatory note for a client's Will—to spouse on flexible life interest trust with remainder on discretionary trust STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime. Finance Act 2025 (FA 2025) which received Royal Assent on 20 March 2025, implements legislation to abolish the remittance basis of taxation and replace it with a residence-based regime, commencing on 6 April 2025. FA 2025 also replaces domicile as the key factor in establishing liability to inheritance tax. Other changes include amendment of the rules determining excluded property status, the abolition of protected settlements status of offshore trusts, and changes to overseas workday relief. For information on these changes, see Practice Notes: The abolition of the remittance basis of taxation from 2025–26 and A new residence-based regime for IHT from 2025–26. See also: Finance Bill Tracking Service: Key dates (Finance Bill 2025) and Finance Act 2025. [Your] Will—[name of testator]—explanatory note This explanatory note explains the main provisions of your Will. Please read this explanatory note and your Will carefully....

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Public Law weekly highlights—17 April 2025

This week's edition of Public Law weekly highlights includes the Supreme Court’s landmark ruling in For Women Scotland Ltd v Scottish Ministers on the legal definition of the terms ‘man’, ‘woman’ and ‘sex’ under the Equality Act 2010. Also in this edition, a rare Saturday recall of Parliament for an emergency debate on the Steel Industry (Special Measures) Bill, new guidance on UK1 pipeline notices under the Procurement Act 2023, an update to Procurement Policy Note 009: Tackling modern slavery in government supply chains extending its scope to NHS trusts, closure of the consultation on reforms to the Civil Service Compensation Scheme, takeaways from the ICO’s final anonymisation guidance, plus a request for feedback on updates to the Magenta Book. Case updates include a further Supreme Court ruling in Abbasi v Newcastle upon Tyne Hospitals NHS Foundation Trust on reasonable duration of anonymity injunctions and a number of judicial review and freedom of information cases, including a case considering the interpretation of 'grossly offensive' in the context of Article 10...

New Risk & Compliance forecast as at 15 April 2025

Our new Risk & Compliance forecast (as at 15 April 2025) is now live. This month we report on items including the Serious Fraud Office’s new business plan, progress of the Cyber Security and Resilience Bill announced in the King’s Speech, the Employment Rights Bill and draft ICO guidance on the use of storage and access technologies.