Source: http://uk.practicallaw.com/topic3-103-1103
Timestamp: 2013-05-23 09:09:20
Document Index: 731795546

Matched Legal Cases: ['art 24', 'art 3', 'art 41', 'art 5', 'art 10', 'art 10', 'art 10', 'art 10', 'art 31', 'art 4', 'art 9', 'art 9', 'art 13', 'art 18', 'art 15', 'art 15', 'art 13', 'art 3', 'art 13', 'art 3', 'art 13', 'art 17', 'art 15', 'UKHL ', 'art 13', 'arts 10', 'art 6', 'UKHL ', 'art 12', 'art 10', 'art 13', 'art 15', 'art 16', 'art 13']

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1A guide to Practical Law Finance's miscellaneous resourcesThis note acts as a guide to Practical Law Finance's resources on miscellaneous legal matters and principles of law which may arise when acting on finance transactions. These range from corporate, environmental, tax and trust law (relevant to finance lawyers) to fundamental principles relating to contract law, including frustration, misrepresentation, privity and waiver. As well as links to Practical Law Finance's miscellaneous standard documents, drafting notes, practice notes and checklists, this note links to relevant resources from other Practical Law services such as Practical Law Corporate, Practical Law Tax, Practical Law Commercial and Practical Law Dispute Resolution.Practice note: overviewMaintained2Arbitration: a ten-minute guideNeed to find out about arbitration in ten minutes? This practice note aims to provide a bird's eye view of the most important features of arbitration and arbitration law, from commencement of proceedings right through to enforcement of awards. Links to more detailed discussion are provided.Practice note: overviewMaintained3Articles of association: contentAn overview of the purpose and content of articles of association of a company under the Companies Act 2006.Practice note: overviewMaintained4Bribery Act 2010: toolkitA toolkit to assist with Bribery Act 2010 compliance.Practice note: overviewMaintained5Companies Act 2006: materialsA guide to PLC Corporate's materials and other resources on the Companies Act 2006.Practice note: overviewMaintained6Companies Act 2006: OverviewA part-by-part overview of the Companies Act 2006. For a link to the 2006 Act, see Companies Act 2006: publication of final text. Note - this note a high level part-by-part description of the main substantive changes made by the 2006 Act, it does not discuss implementation/transitional provisions. For detailed resources on the 2006 Act, see Practice note, Companies Act 2006: materials. (For an overview of the Companies Bill as it stood on 28 July 2006 after completing its committee stage in the House of Commons, see Practice note, Companies Bill: Overview. For an overview of the Company Law Reform Bill as it stood on 26 May 2006 after receiving its third reading in the House of Lords, see Practice note, Company Law Reform Bill: Overview.) Practice note: overview31-May-20077Companies Act 2006: parts of interest for finance lawyers ...Parts of the Companies Act 2006 of interest to finance lawyers which came into force on 1 October 2009. This practice note relates only to the position as at 1 October 2009.Practice note: overview01-Oct-20098Document retention toolkitA toolkit to guide users through PLC's UK, US and international content on document retention. It includes materials on retention of employment records, Companies Act 2006 requirements and electronic disclosure.Practice note: overviewMaintained9Insurance toolkitA toolkit to guide users through PLC's UK and multi-jurisdictional insurance materials. PLC's UK web services provide some general insurance materials, together with materials on the regulation of the insurance sector in the UK. In addition, some of our UK web services offer sector-specific insurance materials and current awareness updates on insurance-related developments that fall within their scope. PLC Cross-border provides a multi-jurisdictional guide to insurance and reinsurance law in 22 countries.Practice note: overviewMaintained10Judicial review: a quick guideA quick guide to judicial review, including who can apply for a review, what decisions can be reviewed and the remedies which may be granted. This is one of a series of quick guides, see Quick guides.Practice note: overviewMaintained11Jurisdiction: an overviewThis note considers the jurisdictional issues which arise when litigation has a foreign element. It sets out the rules which determine whether the English court will have jurisdiction, both under the common law and the European regime, in particular under the Brussels Regulation.Practice note: overviewMaintained12Limitation periods: an overviewAn overview of limitation periods.Practice note: overviewMaintained13Limited liability partnerships (LLP): overviewAn overview of the structure and operation of a limited liability partnership (LLP) incorporated under the Limited Liability Partnerships Act 2000. This note contains the law from 1 October 2009. For details of the law applicable to limited liability partnerships before 1 October 2009, see Practice note, Limited liability partnerships: overview: pre-1 October 2009.Practice note: overviewMaintained14Perpetuities and trusts: overviewA note explaining what the rule against perpetuities is and how it applies to trusts. It covers the common law rules, the Perpetuities and Accumulations Act 2009, the Perpetuities and Accumulations Act 1964 and the Law of Property Act 1925. It links to detailed notes on how to apply the rule in common trust situations.Practice note: overviewMaintained15Signing, closing and opinions: international acquisitionsA practical analysis of the mechanics of signing and closing and key provisions of opinion letters in cross-border acquisitions. Country specific information (updated periodically) for Australia, Canada, China, France, Germany, Hong Kong, Italy, Japan, Mexico, The Netherlands, Russian Federation, Singapore, South Korea, UK and US (New York).Practice note: overview01-Nov-201216Tax clearances: generalThis note discusses the current UK rulings system and practical issues relating to clearances. It also links to several other practice notes that provide guidance on clearances in specific situations.Practice note: overviewMaintained17Accounting records: comparison between Companies Act ...A note outlining the changes to the law on accounting records under the Companies Act 2006 (CA 2006 Act).Practice notesMaintained18Accounting standardsAn outline of UK and international accounting standards requirements under the Companies Act 2006. This note covers the law applicable to financial periods beginning on or after 6 April 2008.Practice notesMaintained19An introduction to judicial reviewThis practice note provides an introduction to the substantive law relating to judicial review.Practice notesMaintained20Annual return: comparison between Companies Acts 2006 ...A note outlining the changes to the law on annual returns made by the Companies Act 2006 (2006 Act). For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Part 24 (a company's annual return) came into force on 1 October 2009.Practice notes01-Oct-200921Articles of association: Comparison between the Companies ...A note outlining the changes to the law relating to a company's articles of association as made by the Companies Act 2006 (2006 Act). For more on the requirements of the 2006 Act relating to articles, see Practice note, Articles of association: content: 1 October 2009. For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Part 3 of the 2006 Act (a company's constitution) comes into force on 1 October 2009.Practice notes18-Sep-200822Asset purchase facility: developments trackerThe UK government, Bank of England and the regulatory authorities have taken a number of measures to support the banks and the interbank lending market during the current financial crisis. The purpose of this note is to highlight the chronological developments relating to one of the central pieces of this stability package: the Bank of England's Asset Purchase Facility.Practice notesMaintained23Best or reasonable endeavours?A review of the meaning of best endeavours, reasonable endeavours and other common forms of endeavours clauses.Practice notesMaintained24Bribery Act 2010A practice note about the Bribery Act 2010, which received Royal Assent in April 2010 and came into force on 1 July 2011. The background to the Act is described in Practice note, Bribery: law reform. PLC's materials on the Bribery Act are set out in Bribery Act 2010: toolkit.Practice notesMaintained25Business names: comparison between Companies Acts 2006 ...A note outlining the changes to the law on business names made by the Companies Act 2006 (2006 Act). For information on the regime under the 2006 Act, see Practice note, Company names and business names: 1 October 2009. Part 41 (Business names) came into force on 1 October 2009.Practice notes01-Sep-200926Change of company name: Comparison between the ...A note outlining the changes to the law on the change of a company's name under the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Part 5 (a company's name) of the 2006 Act came into force on 1 October 2009 apart from objections to company names (sections 69-74, 2006 Act) and trading disclosures (sections 82-85, 2006 Act) which came into force on 1 October 2008.Practice notes14-Jan-200927Choosing a governing law in finance transactionsThis practice note explains what a governing law clause is and the consequences of not having one. It also sets out the matters that should be considered when selecting the governing law for a finance transaction.Practice notesMaintained28Claims in negligence: an overviewAn outline of the requirements for claims in negligence considering the tort of negligence and actions for breach of a duty of care in contract. This note addresses issues such as causation, foreseeability, pure economic loss, contributory negligence and mitigation.Practice notesMaintained29Companies Act 1985: When was it repealed?A table that shows when each section of the Companies Act 1985 (1985 Act) was repealed by the Companies Act 2006 (2006 Act). To check when a section of the 2006 Act came into force, see Practice note, Companies Act 2006: When did it come into force?. For a table identifying those provisions of the 1985 Act that were repealed or re-enacted and their section number(s) in the 2006 Act, see Companies Act 2006: Table of destinations. For background information and materials on the 2006 Act, see Practice note, Companies Act 2006: materials.Practice notes01-Oct-200930Companies Act 2006 - When did it come into force?A table that shows when each section of the Companies Act 2006 (2006 Act) came into force. To check when a section of the Companies Act 1985 (1985 Act) was repealed by the 2006 Act, see Practice note, Companies Act 1985: When was it repealed?. For a table showing the origin of the provisions of the 2006 Act, principally by reference to sections of the 1985 Act, see Companies Act 2006: Table of origins. For background information and materials on the 2006 Act, see Practice note, Companies Act 2006: materials.Practice notes01-Oct-200931Companies House forms post 1 October 2009 (Companies Act ...This note contains Companies House forms made under the Companies Act 2006. For information on Companies House forms produced under the Companies Act 1985, see Practice Note, Companies House forms pre 1 October 2009.Practice notesMaintained32Company formation: Comparison between Companies Act ...A note outlining the changes to the law on the formation of companies made by the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. For information on forming a company under the Companies Act 2006, see Practice note, How to incorporate a company under the Companies Act 2006.Practice notes01-Oct-200933Constitution: Comparison between Companies Act 2006 and ...A note outlining the changes to the law relating to a company's constitution to be made by the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials.Practice notes18-Sep-200834Contracts: assignmentAn outline of the ways in which contractual rights may be transferred to third parties by means of assignment, and the rule against assigning the burden, or obligations, of a contract.Practice notesMaintained35Contracts: authorityTo be enforceable a contract with an organisation must be made by a person with authority. This note looks at the mixture of common law and statutory provisions that determine whether a person has authority.Practice notesMaintained36Contracts: capacityA note outlining the rules governing the capacity of an organisation or individual to contract.Practice notesMaintained37Contracts: conditions precedentAn outline of the use of conditions precedent in contracts.Practice notesMaintained38Contracts: conditions, warranties and intermediate termsAn outline of the classification of contract terms as conditions, warranties and intermediate or innominate terms.Practice notesMaintained39Contracts: discharge of contractsAn outline of the ways in which a party to an agreement may discharge the contract.Practice notesMaintained40Contracts: entire agreement clausesA note considering the use of entire agreement clauses to prevent statements or representations that are not set out in a written agreement from having contractual force. It also considers the use of such clauses to restrict liability for claims based on misrepresentationPractice notesMaintained41Contracts: express and implied termsAn outline of express and implied terms in contracts.Practice notesMaintained42Contracts: force majeureA note outlining the use of force majeure clauses.Practice notesMaintained43Contracts: formationA review of the legal concepts involved in the formation of binding contracts.Practice notesMaintained44Contracts: frustrationA note outlining the rules governing the doctrine of frustration.Practice notesMaintained45Contracts: interpretationThis practice note reviews the principles governing the interpretation (sometimes also called construction) of the express terms of written contracts.Practice notesMaintained46Contracts: invalidityA note outlining the rules that may make a contract void or unenforceable, on grounds such as illegality or public policy, or voidable for duress or undue influence.Practice notesMaintained47Contracts: mistakeAn outline of common law mistake and its effect on a contract.Practice notesMaintained48Contracts: novationAn outline of the way in which contractual rights and obligations may be transferred to third parties by means of novation.Practice notesMaintained49Contracts: privity and third party rights and obligationsAn outline of the ways in which contractual rights can be conferred and obligations imposed on third parties, including detailed discussion of third party rights under the Contracts (Rights of Third Parties) Act 1999.Practice notesMaintained50Contracts: rectification and other ways to correct mistakesA practice note explaining when and how the court will rectify a document or use construction to correct a mistake and reflect the terms agreed.Practice notesMaintained51Contracts: structure and terms of commercial contractsA review of the fundamentals of contract law explaining the structure and terms of commercial contracts.Practice notesMaintained52Contracts: subcontractsAn outline of the way in which performance of contractual obligations may be transferred to a third party by means of a subcontract.Practice notesMaintained53Contracts: transferring rights and obligationsAn overview of the ways in which contractual rights and obligations may be transferred to third parties.Practice notesMaintained54Contracts: variationA note outlining the rules governing variation of a contract.Practice notesMaintained55Contracts: waiverA note on waiver, including waiver, release or variation by contract or deed, waiver by estoppel and waiver by election.Practice notesMaintained56Controlled foreign companies and attribution of gains: taxThis practice note discusses the UK's controlled foreign company regime for accounting periods beginning before 1 January 2013 and the UK's rules on attributing gains of non-UK resident companies to UK residents.Practice notesMaintained57Corporate representativesA note on the appointment of corporate representatives.Practice notesMaintained58CRC Energy Efficiency Scheme: in a nutshellThis note provides a brief summary of the CRC Energy Efficiency Scheme (CRC).Practice notesMaintained59CRC Energy Efficiency Scheme: links to primary sourcesThis note provides links to the relevant primary sources (including legislation, guidance, and consultation and policy documents) on the CRC Energy Efficiency Scheme.Practice notesMaintained60CRC Energy Efficiency Scheme: overviewThis practice note provides a detailed overview of the CRC Energy Efficiency Scheme (CRC), which is a mandatory emissions trading scheme for large businesses and public sector organisations in the UK. The scheme came into force in April 2010.Practice notesMaintained61CRC Energy Efficiency Scheme: PLC glossary and ...This note contains a glossary of the terms defined in the CRC Energy Efficiency Scheme Order 2010 (SI 2010/768), the CRC User Guide and other guidance published by the Department of Energy and Climate Change (DECC) and the Environment Agency. It also contains a list of commonly used abbreviations relating to the CRC Energy Efficiency Scheme.Practice notesMaintained62CRC Energy Efficiency Scheme: restructuring and insolvency ...A guide to the implications of the CRC Energy Efficiency Scheme for restructuring and insolvency practice.Practice notesMaintained63Cross-border dividend payments: taxA discussion of the tax issues that may arise when a company in one country pays a dividend to a shareholder in another.Practice notesMaintained64Declaration of directors' interests: Companies Act 2006A note outlining the changes to the law on declaration of directors' interests under the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Chapter 2 of Part 10 (general duties of directors) came into force on 1 October 2007, other than the provisions relating to directors' conflict of interest duties in sections 175 to 177 came into force on 1 October 2008, along with the provisions relating to declarations of interest in existing transactions or arrangements in Chapter 3 of Part 10 (sections 182 to 187).Practice notesMaintained65Direct taxesThis practice note gives an overview of direct taxes in the UK tax regime. It covers income tax, corporation tax and capital gains tax. It discusses the principles of calculation, rates, payment and compliance, and reliefs (such as capital allowances and research and development (R&D) relief).Practice notesMaintained66Directors' duties: comparison between Companies Acts 2006 ...A note outlining the changes to the law on directors' duties under the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. For a more detailed note on this topic, see Practice note, Directors' general duties under the Companies Act 2006. Chapter 2 of Part 10 (general duties of directors) came into force on 1 October 2007, other than the provisions relating to directors' conflict of interest duties (sections 175 to 177). Sections 177 to 175 came into force on 1 October 2008.Practice notesMaintained67Directors: comparison between Companies Act 2006 and ...A note outlining the changes to the law on directors under the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Most of Part 10 (a company's directors) came into force on 1 October 2007, other than: (1) provisions relating to directors' conflict of interest duties, declarations of interest in existing transactions or arrangements, and underage and natural directors, which came into force on 1 October 2008; and (2) provisions relating to the register of directors, including directors' residential addresses, which came into force on 1 October 2009.Practice notesMaintained68Disclosure of tax avoidance schemes under DOTAS: direct taxA practice note about the direct tax disclosure regime which requires promoters, and in some cases, users, of certain tax planning arrangements to disclose details of the arrangements to HMRC.Practice notesMaintained69Discrimination: tax and EU principlesThis practice note discusses the impact that EU legal principles prohibiting discrimination have on UK tax law.Practice notesMaintained70Dissolution and restoration to the register: comparison ...A note outlining the changes to the law on the dissolution and restoration to the register of companies to be made by the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Part 31 (dissolution and restoration to the register) will come into force on 1 October 2009.Practice notesMaintained71DividendsA note covering the key issues relating to dividends.Practice notesMaintained72DOTAS: regime applicable before 1 August 2006A practice note about the direct tax disclosure regime applicable before 1 August 2006.Practice notesMaintained73Double tax treaties: an introductionThis practice note provides an introduction to the purpose and interpretation of double tax treaties.Practice notesMaintained74Environmental issues in finance transactionsThis note explains: In what circumstances lenders are at risk of incurring environmental liabilities. The purpose of, and the various steps involved in, environmental due diligence. The various provisions that can be included in a facility agreement and debenture to address environmental issues. Practice notesMaintained75EU law and its interpretation in the UKAn outline of the EU legislative process and its interpretation in the UK.Practice notesMaintained76Excluding or limiting liability for negligenceThis note considers the ways in which a party may seek to exclude or limit its liability for negligence and negligent misstatement. It discusses the common law position, contractual exclusion clauses, the issue of estoppel and the impact of statutory restrictions such as the Unfair Contract Terms Act 1977 (UCTA).Practice notesMaintained77Execution of deeds and documentsOverview of the key legal requirements relating to the execution of deeds and documents under the laws of England and Wales. It reflects the law on execution from 1 October 2009. For details of the law governing execution of deeds and documents before 1 October 2009, see Practice note, Execution of deeds and documents: pre-1 October 2009.Practice notesMaintained78Execution of deeds and documents by charitiesA practice note on the formalities for the execution of deeds and documents by incorporated and unincorporated charities.Practice notesMaintained79Execution of documents: Companies Act 2006A note outlining the changes to the law on execution of documents by companies under the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. For detailed information and sample execution clauses, see Practice note, Execution of deeds and documents. Part 4 (A company's capacity and related matters) of the 2006 Act is effective from 1 October 2009, with the exception of section 44 which came into force on 6 April 2008.Practice notes06-Apr-200880Exercise of members' rights: Companies Act 2006A note outlining the law on the exercise of members' rights under Part 9 of the Companies Act 2006 (CA 2006) under which indirect investors may exercise certain governance rights. Part 9 (exercise of members' rights) came into force on 1 October 2007.Practice notesMaintained81Extraordinary general meetings: comparison between ...A note outlining the changes to the law on extraordinary general meetings made by the Companies Act 2006 (2006 Act). This note does not reflect the changes introduced in relation to general meetings by the Companies (Shareholders' Rights) Regulations 2009 which came into force on 3 August 2009. For more detailed information on general meetings, including the changes introduced by the Companies (Shareholders' Rights) Regulations 2009, see: Practice note, General meetings (including AGMs): preparation and notice; and Practice note, General meetings (including AGMs): conduct of the meeting. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Part 13 (resolutions and meetings) came into force on 1 October 2007 apart from sections 327(2)(c) and 330(6)(c) regarding proxies which are not being commenced, and those provisions that came into force on 20 January 2007 (sections 308, 309 and 333).Practice notes06-Nov-200882Fiduciary dutiesAn outline of the common law fiduciary duties, ways of modifying those duties (including the use of Chinese walls) and proposals for reform.Practice notesMaintained83Finance law: training materials for new joinersDo you have a trainee or newly qualified lawyer joining your finance team? Are you a trainee or newly qualified lawyer wondering what finance transactions are all about? Have you moved in house and find yourself having to get to grips with finance law? If so, have a look at the following materials to get an overview of the law and practice of finance transactions. Remember to arrange for any new recruits to get access to PLC Finance and ensure they are signed up to receive our weekly and/or monthly e-mails. To do this, please e-mail info@practicallaw.com or contact your account manager on 020 7202 1220. If you do not subscribe to PLC Finance, see Request a free trial or call 020 7202 1220 to register your interest in a free trial.Practice notesMaintained84Financial assistanceThis note considers the rules under the Companies Act 2006, from 1 October 2009, that prohibit a public company from giving financial assistance for the purpose of the acquisition of its shares or those of a parent company, and a private company from giving financial assistance for the purpose of the acquisition of shares of a public parent company. For details of the pre-1 October 2009 position under the Companies Act 1985, see Practice note, Financial assistance: pre-1 October 2009. Practice notesMaintained85Financial assistance: Companies Act 2006A note outlining the changes to the law on the financial assistance under the Companies Act 2006. For more detailed information and analysis, see Practice note, Financial assistance: 1 October 2009. The prohibition on financial assistance by private companies for the acquisition of shares in themselves or other private companies (including the whitewash procedure) was repealed from 1 October 2008. Chapter 2 of Part 18 of the 2006 Act (financial assistance for purchase of own shares) preserves the financial prohibition for public companies and has been in force since 1 October 2009.Practice notesMaintained86General meetings (including AGMs): preparation and noticePractice note covering issues to be considered when preparing for and calling general meetings, including annual general meetings.Practice notesMaintained87Group accounts: comparison between Companies Act 2006 ...A note outlining the changes to the law on group accounts under the Companies Act 2006 (CA 2006). For more detailed information and analysis, see Practice note, Group accounts. Chapter 4 of Part 15 (annual accounts) came into force on 6 April 2008. Generally, the requirements on the form and content of accounts and reports in Part 15 came into effect for accounts and reports for periods beginning on or after 6 April 2008.Practice notes06-Jul-201188Groups of companies: taxTax legislation gives special tax treatment to certain transactions between group company members, such as group and consortium relief and relief for chargeable gains groups. This note considers that treatment. The stamp duty, stamp duty land tax and value added tax position of group companies is also considered.Practice notesMaintained89Industrial and provident societiesThis note sets out how to form and register the two types of industrial and provident society; the community benefit society and the co-operative society. The note describes the rights of members and directors of such societies, the capital requirements for a society, the conversion process from a society to a limited company and the dissolution process.Practice notesMaintained90Informing the client about costs: at outset of retainer and ...This Practice note stresses the importance of giving information to clients about costs. It summarises the requirements of the Solicitors Code of Conduct 2007, and other legal requirements, and provides suggestions for how best information on costs can be provided to the client, at the outset and throughout the retainer. Note: This note covers the requirements of the Solicitors Code of Conduct 2007 (in force from 1 July 2007 to 5 October 2011). For the latest requirements, under the Solicitors Code of Conduct 2011, see the new version of this note, Practice note, Informing the client about costs: at outset of retainer and beyond. For details of the Solicitors Costs Information and Client Care Code 1999, see, Practice note, Informing the client about costs: at outset of retainer and beyond pre 2007.Practice notes05-Oct-201191Informing the client about costs: at outset of retainer and ...This practice note stresses the importance of giving information to clients about costs. It summarises the requirements of the Solicitors Regulation Authority Code of Conduct 2011 (SRA Code 2011) and other legal requirements, and provides suggestions for how the best information on costs can be provided to a client retaining a solicitor for dispute resolution, at the outset and throughout the retainer. This note covers the requirements of the SRA Code 2011 (in force from 6 October 2011). For details of the previous applicable codes, see the old versions of this note, Practice notes, Informing the client about costs: at outset of retainer and beyond: July 2007 to 5 October 2011 and Informing the client about costs: at outset of retainer and beyond: pre 2007.Practice notesMaintained92Is your governing law clause effective?A well drafted contract will have a governing law clause which determines the substantive law that will be applied to work out the rights and obligations of the parties to the contract. Generally, the English courts will uphold an express choice of law as a valid choice. However, while an express choice of law in relation to contractual obligations cannot be overturned, significant challenges can be made to it under the Rome Convention or the Rome I Regulation, which can have the effect of modifying the applicable law. This note looks at the three situations in which the express choice of law in respect of contractual obligations can be modified under the Rome Convention or the Rome I Regulation under English law. This note does not consider the effectiveness of a governing law clause covering non-contractual obligations, and the challenges that may be made to such a clause. For a detailed discussion of the issues which arise in that context, see Practice note, Rome II: an outline of the key provisions.Practice notesMaintained93Joint, several and joint and several liabilityWhere two or more persons are liable to another, they may be jointly liable, severally liable or jointly and severally liable. This note explains the concepts of joint, several, and joint and several liability.Practice notesMaintained94Key dates for finance lawyers in 2010A practice note listing key forthcoming dates for UK finance lawyers.Practice notes31-Dec-201095Key dates for finance lawyers in 2011A practice note listing key forthcoming dates for UK finance lawyers.Practice notes31-Dec-201196Key dates for finance lawyers in 2012A practice note listing key forthcoming dates for UK finance lawyers.Practice notes31-Dec-201297Key dates for finance lawyers in 2013A practice note listing key forthcoming dates for UK finance lawyers.Practice notesMaintained98Members' resolutions and statements: comparison between ...A note outlining the changes to the law on members' resolutions and statements under the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Part 13 (Resolutions and meetings) of the Act came into force on 1 October 2007. Practice notes01-Oct-200999Memorandum of association: Comparison between ...A note outlining the changes to the law relating to a company's memorandum of association to be made by the Companies Act 2006 (2006 Act). For a link to the 2006 Act see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006. Part 3 (A company's constitution) of the 2006 Act will come into force on 1 October 2009.Practice notes18-Sep-2008100Memorandum of association: contentThis note provides an overview of the content of a company's memorandum of association under the Companies Act 2006.Practice notesMaintained101MisrepresentationAn outline of the law relating to misrepresentation.Practice notesMaintained102Model articles: private companies limited by shares ...An introduction to the provisions of the model articles for private companies limited by shares, as set out in Schedule 1 to The Companies (Model Articles) Regulations 2008 (SI 2008/3229).Practice notesMaintained103Negligent misstatementAn outline of the law of negligent misstatement. This note considers the requirements of a claim: duty of care, breach and causation. It also discusses relevant authorities including the landmark decision in Hedley Byrne v Heller [1964] AC 465.Practice notesMaintained104Notice of EGM: comparison between Companies Acts 2006 ...A note outlining the changes to the law on notices of EGM made by the Companies Act 2006 (2006 Act). This note does not reflect the changes introduced in relation to notices and general meetings by the Companies (Shareholders' Rights) Regulations 2009 which came into force on 3 August 2009. For more detailed information on general meetings, including the changes introduced by the Companies (Shareholders' Rights) Regulations 2009, see: Practice note, General meetings (including AGMs): preparation and notice; and Practice note, General meetings (including AGMs): conduct of the meeting. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Part 13 (resolutions and meetings) came into force on 1 October 2007, apart from sections 327(2)(c) and 330(6)(c) regarding proxies which are not being commenced, and those provisions that came into force on 20 January 2007 (sections 308, 309 and 333).Practice notes06-Nov-2008105Oaths, affirmations and statutory declarationsAffidavits need to be verified by oath or by solemn affirmation. In certain circumstances, a statutory declaration can be used instead of an affidavit, and will be verified by a declaration. This practice note looks at what is involved in preparing the relevant documents and administering oaths, affirmations and statutory declarations.Practice notesMaintained106Objects: Comparison between Companies Act 2006 and 1985A note outlining the changes to the law relating to a company's objects to be made by the Companies Act 2006 (2006 Act). For a link to the 2006 Act see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006.. Part 3 (A company's constitution) of the 2006 Act will come into force on 1 October 2009.Practice notes30-Sep-2008107Ordinary resolutions: comparison between Companies Acts ...A note outlining the changes to the law on ordinary resolutions made by the Companies Act 2006 (2006 Act). For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. The provisions in Part 13 on ordinary resolutions came into force on 1 October 2007.Practice notes03-Aug-2009108Powers of attorneyThis practice note examines powers of attorney, in particular, general powers of attorney and their commercial application. It includes links to standard documents for general powers of attorney and specimen execution clauses. For further details on other types of powers of attorney, see Practice note, Lasting powers of attorney and Practice note, Enduring powers of attorney.Practice notesMaintained109Pre-emption rights: comparison between Companies Acts ...A note outlining the changes to the law on pre-emption rights to be made by the Companies Act 2006 (CA 2006). For a link to the 2006 Act see Companies Act 2006: publication of final text. For general background to the CA 2006, see Practice note, Companies Act 2006. Part 17 (A company's share capital) will come into force on 1 October 2009.Practice notes18-Sep-2008110Professional negligenceAn outline of the law of professional negligence. This note considers: The requirements for claims in contract and tort. The application of the SAAMCO principle. The Bolam test. Contributory negligence. Contribution. The use by professionals of exclusion clauses to limit liability.Practice notesMaintained111ProxiesPractice note on the appointment and rights of proxies.Practice notesMaintained112Publication and filing of accounts: comparison between ...A note outlining the changes to the law on the publication and filing of company accounts under the Companies Act 2006 (CA 2006 Act). For more detailed information and analysis, see Practice note, Company accounts and reports: overview. Part 15 (accounts and reports), other than sections 417 and 463, came into force on 6 April 2008.Practice notes06-Jul-2011113Quasi-legislation: codes, guidance, orders, rules and ...A note on the various types of quasi-legislation and how they should be treated.Practice notesMaintained114Quistclose trustsThs note explains that a Quistclose trust is a form of resulting trust that may arise when funds are transferred for specific and exclusive purposes, as explained in Twinsectra Ltd v Yardley and others [2002] UKHL 12. It gives examples from case law of loans and other situations, and summarises factors to consider when advising.Practice notesMaintained115Quorum requirements: comparison between the Companies ...A note outlining the changes to the law on quorums under the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Part 13 (Resolutions and meetings) of the Act came into force on 1 October 2007.Practice notes01-Oct-2009116Records: comparison between the Companies Act 2006 and ...A note outlining the changes to the law on record keeping requirements in relation to resolutions and meetings made by the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. The provisions on record keeping in Parts 10 and 13 came into force on 1 October 2007.Practice notes30-Sep-2009117Registered officeA note outlining the provisions relating to a company's registered office under Part 6 (sections 86 to 88) of the Companies Act 2006.Practice notesMaintained118Remedies: damages and agreed remediesAn outline of the law of damages for actions in contract and tort and the remedies that may be agreed by contracting parties. Practice notesMaintained119Remedies: equitable remediesAn outline of equitable remedies including rectification, specific performance, injunctions, account of profits, subrogation, rescission and declarations. The doctrines of equity are also discussed.Practice notesMaintained120Remedies: restitutionA note outlining the law of restitution.Practice notesMaintained121Resolving ambiguities in legislationThis practice note discusses the tools available to those who have to apply an ambiguous piece of legislation.Practice notesMaintained122Rome Convention: an outline of the key provisionsThis note summarises the key provisions of the Convention on the law applicable to contractual obligations (80/934/EEC) (Rome Convention), which applies to contracts made before 17 December 2009 and contains rules for determining the applicable law.Practice notesMaintained123Rome I and Rome II: a summaryThis note considers: The Rome I Regulation on the law applicable to contractual obligations. The Rome II Regulation on the law applicable to non-contractual obligations. It summarises the background to both Regulations, their legislative history and key objectives (including the instruments which preceded their introduction, namely the Rome Convention on the law applicable to contractual obligations and the Private International Law (Miscellaneous Provisions) Act 1995).Practice notesMaintained124Rome I: an outline of the key provisionsThis practice note summarises, from an English law perspective, the key provisions of Regulation 593/2008 on the law applicable to contractual obligations (Rome I). It highlights the main changes from the rules contained in the Rome Convention on the law applicable to contractual obligations of 1980 (Rome Convention).Practice notesMaintained125Rome II: an outline of the key provisionsUnder Rome II (Regulation 2007/864) the courts of all EU member states other than Denmark must apply the same set of rules to determine the law that will govern non-contractual obligations arising between parties in civil and commercial matters. This practice note outlines the key general provisions of Rome II, highlighting the key provisions from an English law perspective and focusing on: Drafting agreements as to choice of law. The law governing pre-contractual negotiations. The law governing product liability cases. The steps that commercial parties should consider taking in the light of the rules in Rome II.Practice notesMaintained126Rome II: implications for finance transactionsThis note considers the effect the Rome II Regulation on the law applicable to non-contractual obligations may have on finance transactions.Practice notesMaintained127Saving defective noticesThis practice note explains the principle established in the House of Lords' case of Mannai Investment Co Ltd v Eagle Star Life Assurance Co Ltd [1997] UKHL 19 and its subsequent application to defects in both contractual and statutory notices.Practice notesMaintained128Secretary: comparison between the Companies Acts 2006 ...A note outlining the changes to the law relating to a company's secretary to be made by the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Part 12 (company secretaries) came into force on 6 April 2008, other than sections 270(3)(b)(ii) and 275 to 279, which will come into force on 1 October 2009.Practice notesMaintained129Set-off clausesA note on boilerplate clauses that create or limit contracting parties' rights to set off monetary cross-claims against each other. It also outlines the following non-contractual rights of set-off: legal set-off, equitable set-off, banker's set-off and insolvency set-off.Practice notesMaintained130Shadow directors: comparison between Companies Act 2006 ...A note outlining the changes to the law on shadow directors under the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Most of Part 10 (a company's directors) came into force on 1 October 2007, other than: (1) provisions relating to directors' conflict of interest duties, declarations of interest in existing transactions or arrangements, and underage and natural directors, which came into force on 1 October 2008; and (2) provisions relating to the register of directors, including directors' residential addresses, which came into force on 1 October 2009.Practice notesMaintained131Solicitors' Code of Conduct 2007This Practice note provides an overview of the Solicitors' Code of Conduct 2007, which came into force on 1 July 2007 and applies to all solicitors practising in England and Wales. The Code replaced the rules of professional conduct contained in the Solicitors Practice Rules 1990 with effect from 1 July 2007. Note: The Solicitors Regulation Authority (SRA) Handbook, which is fully in force from 6 October 2011, replaces the Solicitors' Code of Conduct 2007. PLC has published the following Practice notes on the SRA handbook: SRA Handbook 2011 and Code of Conduct. SRA Handbook 2011 and Code of Conduct: issues for property lawyers. SRA Handbook: ten top things for in-house lawyers to think about. Practice notes05-Oct-2011132Special resolutions: comparison between Companies Acts ...A note outlining the changes to the law on special resolutions made by the Companies Act 2006 (2006 Act). For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. The provisions in Part 13 on special resolutions came into force on 1 October 2007.Practice notes03-Aug-2009133SRA Handbook 2011 and Code of ConductThe Solicitors Regulation Authority has issued a new Handbook, including a new Code of Conduct, which is prompted by the possibility of Alternative Business Structures (ABSs) opening for business from 6 October 2011. The Handbook is being introduced on a phased basis, beginning in August 2011. The key implementation date was 6 October 2011. This practice note explains the background to the new Handbook and its structure. For information on how the new Handbook and Code of Conduct will affect common aspects of property transactions, see Practice note, SRA Handbook 2011 and Code of Conduct: issues for property lawyers.Practice notesMaintained134SRA Handbook 2011: issues for finance lawyers in the Code ...This note looks at the impact on finance transactions of the Solicitors Regulation Authority (SRA) Code of Conduct 2011, which is part of the SRA Handbook 2011. For a general introductory note on the SRA Handbook 2011, including an overview of the SRA Code of Conduct 2011, see Practice note, SRA Handbook 2011 and Code of Conduct.Practice notesMaintained135SRA Handbook 2011: top ten things for in-house lawyers to ...The Solicitors' Code of Conduct 2007 and all other existing Solicitors Regulation Authority (SRA) rules have been rewritten and reformatted into a new SRA Handbook. The date for implementation of the Handbook is currently scheduled to be 6 October 2011. This Practice note highlights the ten key points that in-house lawyers need to consider in advance of its introduction.Practice notesMaintained136Statutory interpretation and the doctrine of precedentAn outline of the English court system, the doctrine of precedent, and the rules of statutory interpretation.Practice notesMaintained137Subsidiary or permanent establishment: taxThis practice note discusses the UK direct tax implications of carrying on a business through a subsidiary or permanent establishment.Practice notesMaintained138Tax for banking lawyersThis practice note is a basic summary of the tax issues that frequently arise in respect of commercial lending transactions carried on by banks. Among other things, it considers distribution treatment for interest, withholding tax, stamp duty and VAT.Practice notesMaintained139The European Union after the Treaty of LisbonThis Practice note examines the impact of the Treaty of Lisbon on the decision-making procedures and substantive policies of the European Union.Practice notesMaintained140The legislative process in the UK and how Bills become lawA note explaining the legislative process in the UK Parliament. It provides an overview of how Bills become Acts of Parliament and also explains the different types of Bill that can be introduced into Parliament. The note also explains delegated or secondary legislation.Practice notesMaintained141Thin capitalisation and transfer pricingA discussion of the UK's thin capitalisation and transfer pricing rules in the context of cross-border transactions.Practice notesMaintained142Time of the essenceA practice note discussing when time limits in a contract are essential conditions of the contract, a breach of which would amount to a fundamental breach that would justify the other party terminating the contract.Practice notesMaintained143Top finance cases of 2010The year in court for finance law, from performance bonds to flip provisions.Practice notes13-Jan-2011144True and fair view: comparison between Companies Act 2006 ...A note outlining the changes to the law on the true and fair view in relation to accounts to be made by the Companies Act 2006 (CA 2006). The relevant provisions in Part 15 (accounts and reports) and Part 16 (audit) came into force on 6 April 2008. For more detailed information and analysis, see Practice note, True and fair view.Practice notes06-Jul-2011145Trusts in commercial transactionsThe trust is widely admired and recognised in many jurisdictions around the world. Although primarily used by individuals, they also have a wide variety of applications in a commercial context. This practice note provides an introduction to trusts and trustees and considers some commercial applications of trusts.Practice notesMaintained146VAT issues for banksThis practice notes summarises the various VAT issues that arise for banks in the course of their business.Practice notesMaintained147Withholding taxThis practice note is a summary of the UK withholding tax rules on payments of interest and certain other payments (such as annual payments, guarantee payments, patent royalties and other royalties). It considers when withholding arises (including when interest has a UK source and when it is "yearly interest" rather than "short interest"). It also considers exemptions, such as the Quoted eurobond exemption and exemption under double tax treaties, and outlines the effect of the EU savings tax directive. Further, it discusses documenting for withholding tax, including gross-up clauses, and accounting for tax withheld.Practice notesMaintained148Withholding tax: bank depositsA short summary of how the withholding tax rules apply in relation to bank deposits when interest is paid or deposited by a "deposit-taker".Practice notesMaintained149Written resolutionsA note on written resolutions proposed and passed by private companies in accordance with provisions set out in Chapter 2 of Part 13 of the Companies Act 2006.Practice notesMaintained
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