bluuebunny/crossref_metadata_2025_split huggingface dataset:
Individual Accountability
Authors: Walker George , Purves Robert , Blair Michael 
Published: July 2018

Abstract
This chapter examines the individual accountability regime for the UK's banking sector. It begins with an overview of the individual accountability regime as well as its key aspects, focusing on the Independent Commission on Banking and the Parliamentary Commission on Banking Standards. It then considers the Financial Services (Banking Reform) Act 2013 and the Senior Managers' Regime, along with the financial institutions within scope of the Senior Managers' Regime. It also describes the rules of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) concerning the Senior Managers' Regime, and more specifically the Allocation of Responsibilities, senior management functions, applications and notifications with respect to the Regime, and fitness and propriety. Finally, it looks at the Certification Regime, UK branches of overseas banks, and extension of the Senior Managers' Regime to all other financial services firms.
Listing and Public Offers
Authors: Walker George , Purves Robert , Blair Michael 
Published: July 2018

Abstract
This chapter examines the regulatory framework for listing and public offers in the UK, with a particular focus on the Prospectus Directive regime that was first adopted by the European Union in November 2003 and implemented in the UK from 1 July 2005. The Prospectus Directive regime regulates information disclosure in connection with a public offer or admission to listing on a regulated market in the EU. The chapter first provides an overview of the evolution of the Prospectus Directive regime before discussing its implementation in the UK. It then considers when a prospectus is required and what it must contain and describes the listing regime in the UK, which combines admission to the ‘Official List’ with admission to trading on one of the markets of the London Stock Exchange. The chapter also explains the UK listing requirements and the ongoing obligations faced by issuers admitted to listing and trading.
Insider Dealing and Misleading Statements and Impressions
Authors: Walker George , Purves Robert , Blair Michael 
Published: July 2018

Abstract
This chapter focuses on the criminal offences of insider dealing under the Criminal Justice Act 1993 (CJA) and misleading statements and impressions under Part 7 of the Financial Services Act 2012 (FSA 2012), along with regulatory requirements relating to market misconduct. It first provides an overview of the relevant provisions of Part V of CJA before discussing the roles of the various regulatory and prosecuting authorities with power to take action in respect of market misconduct and how these bodies interact. In particular, it examines the responsibility of the Financial Conduct Authority (FCA) for prosecuting offences unde CJA and FSA 2012. It also analyses the provisions of Part 7 of FSA 2012 regarding offences in relation to financial services as well as other regulatory provisions relating to undesirable market conduct.
Collective Investment Schemes
Authors: Walker George , Purves Robert , Blair Michael 
Published: July 2018

Abstract
This chapter focuses on the regulatory framework for collective investment schemes (CISs). The Financial Services and Markets Act 2000 (FSMA) imposes a special regulatory regime on investment funds that fall within its wide definition of CIS, which has been placed within the scope of regulation since the enactment of the Financial Services Act 1986. The definition of CIS covers almost all types of investment funds with the exception of investment companies, investment trusts, and pooled investment special purpose vehicles. The chapter first considers the European directive for ‘undertakings for collective investment in transferable securities’ (UCITS) and the introduction of open-ended investment companies (OEICs) in the UK before discussing the European Union's directive for alternative investment funds and the regulatory categorisation of CISs in the UK. It also analyses the regulation of authorised unit trust schemes and the FSMA's ‘general prohibition’ and ‘financial promotion restriction’ provisions.
Islamic Financial Services
Authors: Walker George , Purves Robert , Blair Michael 
Published: July 2018

Abstract
This chapter discusses the regulatory regime for Islamic financial services. It begins by providing a background on Islamic finance firms (IFFs), which are governed by the Shari'a, and the services they offer. It then considers the scope and limits of Islamic financial services regulation before analysing the regulation of IFFs in the UK by the Financial Conduct Authority and the Prudential Regulation Authority as well as the regulation of Islamic capital markets. It also looks at international bodies that have been established to set and develop regulatory and Shari'a standards for IFFs, focusing in particular on the Accounting and Auditing Organisation for Islamic Financial Institutions and the Islamic Financial Services Board. The chapter concludes with an assessment of Islamic finance regulation in other jurisdictions; the legal effect of international standards on IFFs; Shari'a principles, including those relevant to Islamic finance; and the listing and public offer of Shari'a-compliant securities.
Financing Devices Involving the Transfer or Retention of Title
Authors: Beale Hugh , Bridge M G , Gullifer Louise , Lomnicka Eva 
Published: July 2018

Abstract
This chapter discusses financing devices that, although performing an equivalent function to security interests, are not generally considered ‘security’ under English law. These devices fall into two main categories: those involving the retention and those involving the transfer of title. Such financing devices are often called ‘quasi-security’ interests, to acknowledge that their economic function, in ‘securing’ the performance of obligations, is the same as that of true ‘security’. The chapter also considers the characteristics that they normally display, dividing up the discussion by the nature of the collateral involved: goods, investment products, and receivables.
Interests Created By Debtors Who Are Not companies
Authors: Beale Hugh , Bridge M G , Gullifer Louise , Lomnicka Eva 
Published: July 2018

Abstract
This chapter talks about how there are perfection requirements for only certain types of mortgage or charge created by non-corporate debtors over their property. The perfection of mortgages and charges over goods by non-corporate debtors is for the most part governed by statute, principally the Bills of Sale Acts. General assignments of book debts must also be registered under the Bills of Sale Act 1878. In addition, there are separate provisions for agricultural charges and charges created by cooperative, community benefit, and building societies. The chapter also shows how, in the Queen’s Speech in 2017, the government announced its intention to reform the law on bills of sale pursuant to recommendations by the Law Commission, which in July 2017 published a draft Goods Mortgages Bill for consultation.
Exceptions to the Nemo Dat Rule
Authors: Beale Hugh , Bridge M G , Gullifer Louise , Lomnicka Eva 
Published: July 2018

Abstract
This chapter illustrates how a person who acquires a legal interest in good faith and without notice takes priority over the holder of an equitable interest. The person acquiring the legal interest must provide value and not have actual or constructive notice at the time that the interest was acquired. If, however, the interest, when acquired, was initially equitable, the holder of the interest can at a later date acquire the legal interest and gain priority over the holder of a prior equitable interest, despite the fact that at the time the legal interest was acquired, the holder knew of the prior equitable interest. This is the doctrine of tabula in naufragio.
Priority Between Consensual and Non-Consensual Security Interests
Authors: Beale Hugh , Bridge M G , Gullifer Louise , Lomnicka Eva 
Published: July 2018

Abstract
This chapter demonstrates how, in the case of things in possession, non-consensual security interests may be treated as consisting, for present purposes, of liens, in favour of carriers, repairers, and the like; of maritime liens (and similar statutory rights), in favour of master and crew; claimants against the ship, suppliers, and repairers; rights of distress, in favour of local authorities; rights of commercial rent arrears recovery in favour of landlords; and of execution creditors. In these various instances, the rights of the lienholder, landlord, local authority, and execution creditor, as the case may be, against a competing chargee are part of the larger subject of how those rights might be exercised against the owner in those cases where the owner is not the person in possession of the thing.
Enforcement of Financial Devices Involving The Transfer or Retention of Title
Authors: Beale Hugh , Bridge M G , Gullifer Louise , Lomnicka Eva 
Published: July 2018

Abstract
This chapter demonstrates how financing devices that involve either the retention or the transfer of title, although performing an equivalent function to security interests, are generally not considered ‘security’ under English law. Hence, the general characteristics that security interests display when they are enforced, in particular the obligation of the secured creditor to account for any surplus and the obligation of the debtor to make good any deficit, do not rise. The financing devices, being straightforward commercial contracts, are enforced according to their terms, without the application of any of those ‘security’ principles. However, in so far as these devices perform a security function, their express terms often reflect these ‘security’ characteristics, with the contract often providing for a financial adjustment so as to preclude the ‘secured creditor’ receiving a ‘windfall’ or suffering a ‘shortfall’.
Enforcement of Security in Insolvency
Authors: Beale Hugh , Bridge M G , Gullifer Louise , Lomnicka Eva 
Published: July 2018

Abstract
This chapter discusses the enforcement of security once formal insolvency proceedings have supervened. It deals primarily with liquidation, administration, and receivership but takes in also other procedures, such as schemes of arrangement, to the extent that they affect the rights of secured creditors. A key feature of English law, in contrast with numerous other legal systems, is that the onset of bankruptcy or company liquidation does not remove the power of a secured creditor to exercise proprietary remedies for the recovery of the secured debt. In addition to consensual security, namely, mortgage, charge, and pledge, liens arising by operation of law may be exercised against a liquidator or trustee in bankruptcy, who may not therefore obtain possession of the assets without discharging the underlying obligation.
Renewable Energy Disputes
Authors: Manner Simon , Niedermaier Tilman 
Published: July 2018

Abstract
This chapter relates to renewable energy disputes. ‘Renewable energies’ are understood in a broad sense as energy resources which are naturally replenished on a human timescale. The chapter focuses on wind and solar photovoltaics (solar PV) energy, describing typical project and contract structures, as well as challenges and disputes relating to their financing; development; construction; and operation, maintenance, and service. It pays special attention to questions relating to the individual contractual relationships between the project company, the project developer, the contractor(s), sub-contractors, and sub-suppliers. The chapter also contains a detailed, user-oriented analysis of the advantages and disadvantages relating to arbitrating commercial disputes in this sector.
Contractual Mechanisms for Stability in Energy Contracts
Authors: Mistelis Loukas 
Published: July 2018

Abstract
This chapter discusses the interpretation and enforceability of various contractual means typically used in energy contracts to ensure a sustainable relationship between the contracting parties. These are the stabilization or freezing clauses and the economic equilibrium clauses together with the variants of adjustment, force majeure, and hardship clauses. These clauses are discussed from a historical and comparative viewpoint. In addition, while a dispute is occurring, it is essential to preserve the contract and relationship between the parties, and thus the chapter also looks at how multi-tiered dispute resolution clauses contribute to achieving this objective. The chapter then concludes with an outlook into current trends and future perspectives.
Overview of Energy Charter Treaty Cases
Authors: Hobér Kaj 
Published: July 2018

Abstract
This chapter analyzes rendered awards and pending Energy Charter Treaty (ECT) cases using detailed statistical data on the disputes overall (including the number of cases brought and their outcomes), the parties involved (including the types of investors making use of the ECT, and most frequent respondent states), the underlying investment (including the different energy sectors concerned), and the arbitration rules used. It also discusses a number of issues that often arise in ECT cases. First, the chapter looks at jurisdictional objections regularly raised by respondents, including the provisional application of the ECT under Article 45; the ‘denial of benefits’ clause of Article 17(1); and the definition of an ‘investment’ under Article 1(6). The chapter then analyzes selected merits issues that have been addressed in the ECT awards rendered to date. Finally, this chapter considers the future of the ECT.
Energy Investor-State Disputes in Latin America
Authors: Romero Eduardo Silva 
Published: July 2018

Abstract
This chapter discusses the recent resurgence of ‘resource nationalism’ in the Latin American region. These include the shift in the political and economic control of the energy sector from foreign, private interests to domestic, state-controlled companies and the disputes this has triggered. After looking at the historical background of investor-state arbitration in Latin America, the chapter analyzes relevant strategies used by investors and states to defend their standpoint on resource nationalism. It also identifies which ones have proved most successful in relation to fiscal measures and nationalizations by certain Latin American states. The chapter also provides an assessment of corporate restructuring strategies used by foreign companies to challenge these types of resource nationalism measures.
Climate Disputes and Sustainable Development in the Energy Sector
Authors: Rivkin David W , Amirfar Catherine 
Published: July 2018

Abstract
This chapter addresses both climate change mitigation and climate change adaptation. It makes ‘the case for international arbitration’, analyzing in particular current dispute resolution structures on carbon trading and the specific set of arbitration rules developed by the Permanent Court of Arbitration (PCA) to resolve environmental disputes. It shows how increased awareness of climate change and its effects have clearly influenced the litigation and arbitration worlds. Developing bespoke environmental arbitration rules offers a number of benefits, including transparency, procedural flexibility, access to technical experts and arbitrators with key climate change expertise, and the possibility of multiparty involvement. Such rules may be of particular benefit to parties involved in carbon credit trading systems and investment projects motivated by such systems.
Uniform
Authors: Fleck Dieter 
Published: July 2018

Abstract
This chapter examines the provisions for the use of uniforms. Members of the armed forces have traditionally worn uniform to distinguish themselves from members of the civilian population and often to identify the unit or formation to which they belong. Military members and the UN civilian police of UN peace operations wear uniform as provided under para. 37 of the UN Model SOFA. As the UN does not have a standing army or police force, it relies on contributions by its Member States generally wearing their national uniforms, but wearing the UN badges and insignia and the now familiar blue berets or helmets. For NATO military operations, the wearing of uniform is usually regulated in status-of-forces agreements (SOFAs), considering that permission of the receiving state to display foreign national insignia is required as an expression of its sovereignty.
Settlement of Disputes
Authors: Burkhardt Frank 
Published: July 2018

Abstract
This chapter looks at dispute settlement for multinational operations both within the United Nations and the North Atlantic Alliance. There is a strong common interest of participating parties to settle any possible dispute on the interpretation or application of status-of-forces agreements (SOFAs) at the lowest possible level. As no serious dispute on the interpretation or application of the UN Model SOFA and the NATO SOFA has occurred so far, it appears that negotiations between the UN and the Host State or Sending States and the Receiving State have been able to cope with any difficulties concerning SOFA application. SOFAs for UN peace operations are negotiated and concluded between the UN and the Host State without direct involvement of Troop-Contributing States. Any dispute concerning the interpretation or application of relevant SOFA provisions would not be one between States, but between the Host State and the world organization.
Territorial Applicability
Authors: Burkhardt Frank 
Published: July 2018

Abstract
This chapter deals with territorial applicability of status-of-forces agreements (SOFAs). The territorial applicability of the UN Model SOFA is limited to the area of operation. NATO SOFA applies only in ‘the metropolitan territory’ of any Party which may, however, extend its applicability by unilateral declaration to ‘any of the territories for whose international relations it is responsible in the North Atlantic Treaty area’. While the territorial applicability of the UN Model SOFA does not raise any particular problems, the limitation of the territorial applicability of NATO SOFA appears to be more complex. Yet it does not create impediments to the solution of legal problems resulting from the Alliance’s enlargement and its operations. It can be summarized that as a general rule NATO SOFA applies on the territories of the Parties of the North Atlantic Treaty and to NATO operations in the North Atlantic region north of the Tropic of Cancer.
The International Committee of the Red Cross
Authors: Lavoyer Jean-Philippe , Vité Sylvain 
Published: July 2018

Abstract
This chapter offers a brief description of the origin, mandate, and legal status of the International Committee of the Red Cross (ICRC). The ICRC is an impartial, neutral, and independent organization that was founded in 1863. It endeavours to promote compliance with international humanitarian law by all parties to armed conflicts. It also seeks to provide protection and assistance to victims of armed conflict and other situations of violence. Its activities are based on a mandate received from the community of States. In order to support the efficient fulfilment of its mandate, the ICRC was also recognized international status and was granted privileges and immunities under both international and domestic law.
Visiting Forces in an Operational Context
Authors: Fleck Dieter , Klappe Ben F 
Published: July 2018

Abstract
This chapter summarizes key issues for Visiting Forces as relevant for judge advocates, government civilian attorneys, and military legal advisors. The presence of one State’s military forces in another State’s territory raises significant issues about the relationship between those states. Sending States will desire to assert their control over their armed forces during the deployment, while Receiving States will desire to assert their sovereign control over their territory. It is the combined effort of states to balance such interests for mutual security benefits that forms the object and purpose of the law of Visiting Forces. The law of Visiting Forces focuses on aspects of the peacetime presence of a Sending State’s armed forces within the territory of a Receiving State. Since the terrorist attacks of 11 September 2011, states have increasingly conducted military activities in complex circumstances that may also implicate the law of armed conflict.
Argentina
Authors: Mairal Cecilia M , Gayol Pablo 
Published: July 2018

Abstract
This chapter discusses the law of set-off in Argentina by focusing on the relevant provisions of the Argentine Civil and Commercial Code (CC Code). Under the CC Code, set-off provides a means of cancelling or extinguishing an obligation. According to the Code, a set-off arises when two parties reach a mutual agreement to be creditor and debtor. The chapter first provides an overview of the main elements of set-off as stipulated in the CC Code before explaining the specific set-off provisions that are applicable in an insolvency case. In particular, it examines statutory set-off and contractual set-off, set-off against insolvent parties, set-off provisions for the case of reorganization and bankruptcy under the Argentine Bankruptcy Law, and set-off during the ‘suspect’ or ‘look-back’ period. Finally, it analyses set-off provisions governing cross-border transactions.
Brazil
Authors: de Almeida Prado Fernando Ruiz , Themudo Lessa Tiago Araujo Dias , Queiroz Gomes Caroline Guazzelli 
Published: July 2018

Abstract
This chapter provides an overview of the law of set-off in Brazil. The Brazilian Civil Code, enacted on 10 January 2002, contains the necessary provisions for set off regarding credit and debts. Set-off differs from the concept of netting. Netting refers to an indirect discharge of obligations and must meet certain requirements before it can automatically apply, namely: debts must be certain and liquid, matured, and comparable. After discussing the distinction between set-off and netting in Brazil, the chapter considers set-off between solvent parties. In particular, it explains statutory set-off, contractual set-off, and the principle of manifestation of will. It then examines set-off against insolvent parties, focusing on bankruptcy and judicial or out-of-court reorganisation proceedings. It also describes bank insolvency and civil insolvency proceedings before concluding with an analysis of issues arising in cross-border set-off.
Germany
Authors: Haag Hendrik 
Published: July 2018

Abstract
This chapter examines statutory and contractual set-off in Germany prior to insolvency proceedings and how such proceedings affect the prerequisites relating to set-off. It begins with a discussion of set-off between solvent parties, focusing on the statutory right of set-off under the German civil code ‘BGB’, contractual right of set-off, exclusions of set-off, set-off restriction in general terms and conditions, and limitations of a set-off claim. It then considers set-off against insolvent parties, taking into account the relevant provisions of the German Insolvency Statute ‘InsO’, acquisition of the right to set-off before the commencement of insolvency proceedings, set-off between two insolvency administrators, and cash pooling in insolvency proceedings. Finally, it analyses cross-border issues arising from the right to set-off.