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Payment Services Directive 2 (PSD2) and Payment Services Regulations 2017 (PSRs 2017)—timeline

Payment Services Directive 2 (PSD2) and Payment Services Regulations 2017 (PSRs 2017)—timeline The first Payment Services Directive (2007/64/EC) (PSD1) came into force on 25 December 2007 and was required to be implemented by Member States by 1 November 2009. PSD1 was implemented in the UK through the Payment Services Regulations 2009, SI 2009/209 (PSRs). PSD1 was intended to regulate payment service providers (PSPs) and harmonise the payments sector within the European Union (EU). However, advances in payment systems outstripped the regulatory capacity of PSD1 and, in July 2013, the European Commission (Commission) introduced a proposal for a second Payment Services Directive (PSD2). PSD2 (Directive 2015/2366) entered into force on 13 January 2016. Most of its provisions had to be implemented by Member States by 13 January 2018. PSD2 incorporated and repealed PSD1. PSD2 aimed to improve on PSD1 by, among other things: • increasing its scope so that it no longer includes only PSPs within the EU and the European Economic Area (EEA) • focusing on consumer protection...

Solvency II—timeline (2007–2023) [Archived]

Solvency II—timeline (2007–2023) [Archived] ARCHIVED: This timeline is archived and is no longer maintained. For key developments relating to the EU’s Solvency II framework (Directive 2008/138/EC), see EU Solvency II—timeline. For key developments relating to the UK's Solvency II regime, see UK Solvency II—timeline. 2023 Date Source Document Description 20 December 2023 Official Journal REGULATION (EU) 2023/2859 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 13 December 2023 establishing a European single access point providing centralised access to publicly available information of relevance to  financial services, capital markets and sustainabilityDIRECTIVE (EU) 2023/2864 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 13 December 2023 amending certain Directives as regards the establishment and functioning of the European single access point Regulation (EU) 2023/2859 establishing a European Single Access Point (ESAP) providing centralised access to publicly available information of relevance to  financial services, capital markets and sustainability and Directive (EU) 2023/2864 amending certain Directives as regards the establishment and functioning of the ESAP was published in the Official Journal of the...

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Industrial action that has statutory immunity—flowchart

Industrial action that has statutory immunity—flowchart FORTHCOMING CHANGE: The legal framework for giving protected status to industrial action and picketing is to be amended under clauses 54 to 61 of the Employment Rights Bill, introduced on 10 October 2024 (see Practice Note: The right to take industrial action—Employment Rights Bill). Clause 118 of the Bill confirms that many of the proposed changes will come into force two months after the Employment Rights Act 2025 is passed. The Strikes (Minimum Service Levels) Act 2023 will be repealed on the day on which the Act is passed. For further information on the Employment Rights Bill, generally, see Employment News Analysis: The Employment Rights Bill, and Employment Rights Bill 2024-views from the sector, LNB News 10/10/2024 85. To track the progress of the Bill through Parliament, see Practice Note: Employment Rights Bill—tracker. The government also launched a public consultation on creating a modern framework for industrial relations. The consultation seeks views on several specific...

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Sub-division and consolidation of shares

There are a variety of ways in which a limited company having a share capital may alter that share capital in accordance with the provisions of the Companies Act 2006 (CA 2006).The restrictions in CA 2006 relating to alterations of share capital do not apply to unlimited companies. For further information on this type of company, see Practice Note: Unlimited companies.Sub-division and consolidationIt is possible to sub-divide or consolidate all or any of the shares of a limited company having a share capital in accordance with CA 2006, s 618.An alternative method of sub-dividing and consolidating shares is by scheme of arrangement approved by the court under CA 2006, Pt 26 or a restructuring plan under CA 2006, Pt 26A. A scheme of arrangement is a process generally used to facilitate mergers and takeovers or to restructure a company in financial difficulties. It is also possible to restructure a company in financial difficulties using a restructuring plan. For further information on schemes of arrangement, see Practice Note: Schemes of arrangement—nature...

Hutchison 3G UK/Telefónica Ireland (M.6992) [Archived]

Hutchison 3G UK/Telefónica Ireland (M.6992) [Archived] CASE HUB ARCHIVED–this archived case hub reflects the position at the date of the decision of 28 May 2014; it is no longer maintained. See further, timeline, commentary and related cases. Case facts Outline European Commission merger investigation into the planned acquisition by Hutchison 3G UK of Telefónica Ireland (Case M.6992). Latest developments The Commission cleared the transaction subject to commitments on 28 May 2014. The commitments accepted are in two parts: (1) a package aimed at ensuring the short-term entry of two MVNOs, with an option for one to become a full MNO by acquiring spectrum later—H3G has committed to sell up to 30% of the merged company's network capacity to two MVNOs in Ireland at fixed payment for a dedicated 'pipe' from the network–the Commission has found this to be more viable for the Irish market than the typical pay-as-you-go model in the rest of Europe. Five blocks of spectrum will then be divested...

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Employment (TUPE) indemnities—asset purchase agreement

Employment (TUPE) indemnities—asset purchase agreement 1 Definitions and interpretation 1.1 [Insert the following additional definitions into the definitions clause of the Asset purchase agreement] Business • the business of [insert description of the business being sold or bought] operated by the Seller and all other activities including those ancillary or incidental to or in connection with such business as carried on by the Seller; Buyer • [enter details]; Completion • completion of the sale and purchase of the Business by the performance by the Parties of their respective obligations in accordance with clause [insert number]; Completion Date • [the day on which Completion takes place OR the date no later than the [third OR [insert number]] Business Day after the date on which the last of the Conditions is satisfied or waived or the date to which Completion is deferred] in accordance with clause [insert number]; [Consequential Loss • any consequential, special, indirect, incidental or punitive damages or loss, or any loss of profits or other form...

Case management directions

Case management directions Standard case management directions 1 The Claimant to provide the Respondent with a schedule of loss by 4:00pm on [insert date][ together with any documents relevant to mitigation of loss and any documents which evidence the sums set out in the schedule]. The Claimant to update the schedule of loss two weeks before the substantive hearing. 2 [A list of issues to be agreed on or before 4:00pm on [insert date]. OR The Claimant to send a draft list of issues to the Respondent on or before 4:00pm on [insert date] and the Respondent to provide any amendments on or before 4:00pm on [insert date].] 3 The Respondent to serve a counter-schedule of loss on or before 4:00pm on [insert date] setting out which aspects of the schedule of loss are disputed and why, and any alternative figures and calculations contended for. 4 Mutual disclosure of documents by exchange of lists on or before 4:00pm on [insert date], copies of documents to be requested on or...

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If a lorry driver delivering goods is persuaded not to cross a picket line by employees engaged in lawful, peaceful picketing, and the lorry driver faces disciplinary sanction or dismissal from their own employer (who is not a party to the trade dispute) for refusing to cross the picket line to deliver the goods, are there any protections available to the lorry driver?

If a lorry driver delivering goods is persuaded not to cross a picket line by employees engaged in lawful, peaceful picketing, and the lorry driver faces disciplinary sanction or dismissal from their own employer (who is not a party to the trade dispute) for refusing to cross the picket line to deliver the goods, are there any protections available to the lorry driver? When it comes to statutory protections available to those engaged in industrial action or picketing: • statutory immunity is provided against liability in relation to economic or industrial torts for those involved in industrial action with their employer, which is done in contemplation or furtherance of a trade dispute (as defined), and which complies with specific balloting and notification conditions (see Practice Notes: The right to take industrial action and Balloting for and employer notification of industrial action) • protection against dismissal is potentially available for those participating in such industrial action (see Practice Note: Entitlement to claim unfair dismissal, particular the main section dealing...

An employer enters into a collective redundancy consultation, at the end of which a number of employees are selected for redundancy. Those employees are given notice of termination by reason of redundancy, but, before the termination date, a change in circumstances means that the employer is able to push back the dismissals and keep those employees in employment for a further period. It accordingly extends the notice periods of those employees beyond their contractual notice entitlement, so that their dismissals will take effect in five months’ time. Is the employer required to start the collective consultation process afresh at this point, or would the original consultation process be sufficient?

An employer enters into a collective redundancy consultation, at the end of which a number of employees are selected for redundancy. Those employees are given notice of termination by reason of redundancy, but, before the termination date, a change in circumstances means that the employer is able to push back the dismissals and keep those employees in employment for a further period. It accordingly extends the notice periods of those employees beyond their contractual notice entitlement, so that their dismissals will take effect in five months’ time. Is the employer required to start the collective consultation process afresh at this point, or would the original consultation process be sufficient? In considering this question, it will be useful to consider: • what is the trigger for the collective redundancy consultation obligation, and • how long a collective consultation remains ‘effective’ The relevant legislation, section 188(1) of the Trade Union and Labour Relations (Consolidation) Act 1992 (TULR(C)A 1992) reads: ‘…(1) Where an employer is proposing to dismiss as redundant 20 or...

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Employment weekly highlights—19 December 2024

This edition of Employment weekly highlights includes: (1) a round-up of the key employment law developments in 2024 and what to look out for in 2025, (2) a joint letter from the Presidents of the Employment Tribunals for England & Wales and Scotland on how to approach existing Practice Directions and Presidential Guidance in light of the new procedure rules, (3) two Court of Appeal decisions on the extension of employment tribunal time limits, (4) an EAT decision examining the interplay between regulations 4(7), 4(8) and 4(9) of the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE 2006), (5) a Court of Appeal ruling that claims that migrant workers were abused in Dyson’s Malaysian factories should be heard in Britain, (6) the IRLR Highlights for January 2025, (7) dates for your diary, and (8) other news items of interest to employment practitioners.

Employment Law—looking back at 2024 and ahead to 2025

Employment analysis: The Lexis+® Employment team have put together a round-up of the key employment law developments in 2024 as well as a look ahead to the key things to look out for in 2025, including upcoming developments on the Employment Rights Bill, the new employer duty to prevent sexual harassment, the Equality (Race and Disability) Bill and upcoming legislation and cases of interest.