DLA Piper
40 Experts
5 Contributions by DLA Piper
PRACTICE NOTES
The Bank Recovery and Resolution Directive 2014/59/EU (EU BRRD)
The Bank Recovery and Resolution Directive 2014/59/EU (EU BRRD) provides the EU-wide architecture for the recovery and orderly resolution of credit institutions and investment firms, creating a common resolution regime that empowers authorities to address failing entities and fosters dialogue and co-operation between home and host authorities. This Practice Note reviews a number of technical standards and guidelines issued by the European Banking Authority (EBA), under mandates in the EU BRRD as amended by Directive 2019/879 (EU BRRD II). A package of legislation aimed at reducing risks in the EU banking sector, the ‘banking package’, was published in the Official Journal of the EU on 7 June 2019. It included revised bank recovery and resolution rules set out in EU BRRD II, which amended the EU BRRD. EU BRRD II entered into force on 27 June 2019 and had to
EU Law
PRACTICE NOTES
Background to the Single Rulebook
The European Council coined the term Single Rulebook in 2009, with the aim of creating a prudential regulatory framework applied consistently across the EU financial sector, thereby boosting coherence, transparency and efficiency. The objective was to remove regulatory gaps and help the Single Market function more effectively.
Single Rulebook—core provisions
The core provisions of the Single Rulebook are as follows, alongside their associated delegated and implementing acts, regulatory technical standards (RTS), implementing technical standards (ITS), guidelines and recommendations, and related Q&As:
the Capital Requirements Regulation (EU) 575/2013 (EU CRR) and the Capital Requirements Directive 2013/36/EU (EU CRD IV)...
EU Law
PRACTICE NOTES
Background to the Single Supervisory Mechanism
In the wake of the 2008 financial crisis, heightened concern spread across the EU about threats to the stability of the single currency and the integrated market for banking services. To tackle these issues, strengthen financial stability and aid economic recovery, the EU has been building a European Banking Union, anchored in a single regulatory rulebook for financial services, to advance the integration of banking supervision across the EU. At its core sits the Single Supervisory Mechanism (SSM), created by Council Regulation (EU) 1024/2013 and complemented by the SSM Framework Regulation, Regulation (EU) 468/2014. The SSM seeks to ensure that oversight of credit institutions is coherent and effective, and consistent with the functioning of the internal market for financial services and the free movement of
EU Law
PRACTICE NOTES
All lending arrangements rely upon the borrower’s solvency and its capacity to meet its financial obligations under the arrangement. A receivables financing facility follows exactly the same principle too...
Banking & Finance
CHECKLISTS
Checklist
This Checklist sets out key provisions commonly included in a mobile virtual network operator (MVNO) agreement, under which a mobile network operator, as Supplier, provides wholesale access for resale to the MVNO’s own retail customers. It focuses on provisions specific to this type of contract. See also the Precedent: MVNO agreement.
Definitions
Agreement – the MVNO agreement between the MVNO and the Supplier for the provision of the Services
End-User – a customer of the MVNO
IPR – intellectual property rights
MVNO – mobile virtual network operator, the customer in the Agreement
Services – the wholesale network services provided to the MVNO by the Supplier
Supplier – the mobile network operator supplying network services to the MVNO
The third column can be used to capture observations or comments as the Checklist is
TMT
40 Contributions by DLA Piper Experts
PRACTICE NOTES
This Practice Note explores the difference between assignation and subletting of commercial leases in Scotland, the requirement for a landlord’s consent, and the respective remedies available to a landlord and a tenant where the other party breaches its obligations under the lease concerning assignation or subletting. It relates exclusively to commercial leases in Scotland and does not deal with residential or social housing tenancy arrangements.
Assignation and subletting
Assignation and subletting are two avenues a tenant may use to introduce a new tenant into the lease arrangement. The tenant might opt for these avenues because it no longer needs to occupy the premises (or a portion thereof) yet is not entitled under the lease terms to terminate. This Practice Note considers the contentious issues that can arise when a tenant asks its landlord to approve an assignation or a sublease. The principal
Property Disputes
PRACTICE NOTES
This Practice Note sets out how rent review clauses operate in commercial leases. It also summarises the processes for resolving rent review disagreements by arbitration or expert determination. It does not address agricultural rent reviews; for those, see Practice Notes: Rent review under 1991 Act agricultural tenancies in Scotland and Rent review under 2003 Act agricultural tenancies in Scotland.
Need for rent review
Rent reviews enable commercial rents to be aligned with market conditions at the review date. They appear most often in longer commercial leases. Reviews occur at the intervals agreed in the lease’s rent review clause, typically every three to five years, though this may differ.
In addition to specifying the dates, the lease should set out the method to be used for the review. Several approaches are available, discussed below; however, the open market rent basis is the most prevalent. For further detail, see:
Property Disputes
PRACTICE NOTES
What are cryptoassets?
One difficulty in grasping non-traditional money and assets is the inconsistent terminology. Regulators, tax bodies and commentators speak of digital currencies, virtual currencies, cryptocurrencies, cryptoassets and crypto tokens, and it is often uncertain whether the labels are being swapped freely or used with their distinct meanings in mind. For definitions, see Practice Note: Web 3.0, digital assets and cryptoassets—essentials. That Practice Note considers the benefits and drawbacks of using cryptoassets. A range of advantages helps explain their rapid rise in popularity, but these must be weighed against risks inherent in the cryptoasset.
Pros of cryptoassets
Below are some of the advantages of cryptoassets (notably when used as a fiat currency substitute):
lower transaction costs compared with transfers of real currency and assets
transparent costs and charges—hidden fees and extra charges common in other online payment methods are absent in Bitcoin
Financial Services
PRACTICE NOTES
FORTHCOMING CHANGE :
The Renters’ Rights Act 2025 obtained Royal Assent on 27 October 2025. For commentary on how the Act will affect residential lettings in England, refer to Practice Note: Renters' Rights Act 2025—key provisions.
Private residential tenancies
The Private Housing (Tenancies) (Scotland) Act 2016 (PH(T)(S)A 2016) introduced a private sector residential tenancy known as the ‘private residential tenancy’ (PRT), see Practice Note: Private residential tenancies—Scotland. PRTs commenced on 1 December 2017, displacing the former assured and short assured tenancy framework (see ‘Tenancies created before December 2017’ below). From 1 December 2017, new assured or short assured tenancies can no longer be created. Assured and short assured tenancies that existed before 1 December 2017 continue to be regulated by the Housing (Scotland) Act 1988 (H(S)A 1988), including its termination rules. This also covers short assured tenancies that began before 1 December 2017 and, on or after that
Property Disputes
PRACTICE NOTES
Before the handover on 1 July 1997, both Hong Kong and the Mainland were already parties to the New York Convention. That Convention, however, only regulates the recognition and enforcement of arbitral awards between distinct contracting states, and does not extend to enforcement between provinces or regions within a single state. To overcome this enforcement gap, the authorities in Hong Kong and the Mainland entered into the ‘Arrangement Concerning Mutual Enforcement of Arbitral Awards between the Mainland and the Hong Kong Special Administrative Region’...
Note: Hong Kong judgments below are not reported by LexisNexis®.
Mainland awards
A party successful in a Mainland arbitration may pursue enforcement of the award in Hong Kong by either:
relying on the common law, by issuing proceedings founded on an implied promise to honour the award (commonly known as an ‘action on the award’); or
proceeding under statute, through the
Arbitration
PRACTICE NOTES
This Practice Note examines the enforcement of standard security over heritable property in Scotland.
Legal framework
The regime governing enforcement of standard securities sits in, and is derived from, Part II of the Conveyancing and Feudal Reform (Scotland) Act 1970 (CFR(S)A 1970). The statutory framework originally set out in the CFR(S)A 1970 has been significantly modified for securities over properties used for residential purposes, principally by the following:
Mortgage Rights (Scotland) Act 2001, and
Home Owner and Debtor Protection (Scotland) Act 2010
When considering enforcement of any standard security, the reference point is the security instrument itself and, in particular, the operation and application of the ‘Standard Conditions’ contained in CFR(S)A 1970, Sch 3. From an enforcement standpoint, normally the key Standard Conditions to note in practice are:
Standard Condition 9—which defines the circumstances in which a debtor is to be treated as being in
Property Disputes
PRACTICE NOTES
This Practice Note provides an overview of air passenger rights in the EU.
It outlines EU guidance on essential definitions, overarching principles, principal obligations, and the mechanisms for enforcing air passenger rights. The Note explains what travellers may expect when their journey is disrupted, covering:
flight cancellation
delay
denied boarding
lost baggage
It also offers guidance on the legislation applicable to passengers with reduced mobility within the EU, outlining the framework and scope thereof...
EU Law
PRACTICE NOTES
FORTHCOMING CHANGE:
On 24 February 2025, the core provisions of the Procurement Act 2023 (PA 2023) take effect. Procurements started on or after that date must proceed under PA 2023, while those initiated under earlier legislation must continue to be delivered and administered in line with that regime:
Public Contracts Regulations 2015 (PCR 2015)
Utilities Contracts Regulations 2016
Concession Regulations 2016
Defence and Security Public Contracts Regulations 2011
See Practice Note: Introduction to the Procurement Act 2023.
PCR 2015 as assimilated law
PCR 2015 are EU-derived domestic legislation and therefore form assimilated law under sections 2 and 6 of the European Union (Withdrawal) Act 2018.
For practical guidance on the status and interpretation of assimilated law, see Practice Note: Assimilated law.
FORTHCOMING CHANGE:
From 24 February 2025, Procurement Policy Note (PPN) 015 replaces PPN 10/23 with updated guidance on how to consider suppliers’ payment
Public Law
PRACTICE NOTES
ARCHIVED : This Practice Note has been archived and is not maintained .
In line with its authority to order interim relief in aid of arbitration, the Hong Kong court, under the Arbitration Ordinance, Chapter 609 (AO), may grant freezing injunctions (formerly referred to as Mareva injunctions) in support of arbitral proceedings. Securing such relief is demanding and should not be approached casually. For the position under English law, see Practice Note: Freezing injunctions in support of arbitration (England and Wales).
Powers of the court to grant interim measures (generally)
The court’s ability to award interim measures arises under AO, ss 21 and 45. Section 21 makes clear that requesting, before or during arbitration, a protective interim measure from the court is compatible with an arbitration agreement, and that the court may grant such relief. Under s 45, the court may, for arbitral
Arbitration
PRACTICE NOTES
For comprehensive analysis of the regulation, consenting and incentivisation of the net zero energy transition under the laws of England and Wales, see also: Collinson and Hockman on Energy Law: Regulating, Consenting and Incentivising the Energy Transition. That textbook offers in-depth discussion of matters addressed in this Practice Note.
What are the general electricity licensing requirements?
Section 4 of the Electricity Act 1989 (EA 1989) obliges parties carrying out certain activities in the electricity sector to hold a licence, with further particulars set out in the sections below. EA 1989, s 4(2) states that undertaking licensable activities without being authorised by a licence is an offence. Under EA 1989, s 4(2), a person convicted of such an offence is liable, on summary conviction, to a fine not exceeding the statutory maximum or, on conviction on indictment, to a fine. The Office of Gas and
Energy
PRACTICE NOTES
This Practice sets out an introduction to the electricity market in Great Britain (GB). It outlines the main organisations and types of organisation active in generation, transmission, international interconnection, distribution and supply, covering the GB electricity wholesale market, electricity retail market and electricity networks market, while also describing the roles of key industry stakeholders. In view of the GB electricity market’s complexity, this Practice Note presents an overview of the principal authorities and market participants in the GB wholesale and retail electricity markets. As many participants have complex ownership structures, this Practice Note, where needed, refers to the parent company. Where relevant, references include links to key sources and statistics. For a consolidated set of links to the latest key statistics published by DESNZ for the GB energy market, see Statistics at DESNZ.
Brexit impact
As at 31 January 2020 (exit day), the UK ceased to be an EU
Energy
PRACTICE NOTES
Scope
The Arbitration Ordinance (Cap 609) (AO) governs any arbitration pursuant to an arbitration agreement that designates Hong Kong as the seat, irrespective of whether the agreement was concluded in Hong Kong. AO applies to both domestic and international arbitrations. If the seat lies outside Hong Kong, only selected provisions of AO apply, including:
stay of court proceedings where the dispute is subject to an arbitration agreement (AO, s 20)
interim measures ordered by a court in support of an arbitration (AO, ss 21, 45, 60)
enforcement of emergency relief issued by emergency arbitrators (AO, ss 22A–22B)
enforcement of the arbitral tribunal’s orders and directions (AO, s 61)
recognition and enforcement of awards (AO, ss 82–98)
The provisions of AO (subject to limited exceptions) also extend to statutory arbitrations under other ordinances, so long as AO is consistent with that ordinance (AO, s 5). These
Arbitration
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained.
Scope of the Arbitration Ordinance
The Arbitration Ordinance, Chapter 609 (AO), governs arbitrations conducted under an arbitration agreement that designates Hong Kong as the seat. This holds true irrespective of whether the agreement was entered into in Hong Kong. The AO applies to both domestic and international arbitrations.
Where the seat is outside Hong Kong, only particular AO provisions continue to apply, namely:
the stay of any court proceedings where the matter is subject to an arbitration agreement (AO, s 20)
interim measures ordered by the court in support of arbitration within and outside Hong Kong (AO, ss 21, 45, 60)
enforcement of emergency relief granted by emergency arbitrators (AO, ss 22A, 22B)
enforcement of orders and directions made by the arbitral tribunal (AO, s 61)
Arbitration
PRACTICE NOTES
The court may, under the Arbitration Ordinance (Cap 609) (AO), order a variety of interim relief to support arbitration proceedings. These measures are chiefly intended to ensure the arbitral process is respected, prevent any award from being frustrated, regulate the behaviour of the parties, and preserve assets or evidence. It should also be noted that the arbitral tribunal has corresponding powers to grant interim measures under AO, s 35. Note: Hong Kong judgments below are not reported by LexisNexis®.
Power of the court to stay court proceedings in favour of arbitration
Under AO, s 20, the court may stay proceedings and refer the parties to arbitration on a party’s request where the action is the subject of an arbitration agreement, unless the arbitration agreement is invalid, inoperative or incapable of being performed. In Hong Kong, the courts consistently uphold the primacy of the
Arbitration
PRACTICE NOTES
In line with its authority to issue interim relief in aid of arbitration, the Arbitration Ordinance (Cap 609) (AO) permits the court to grant freezing injunctions (Mareva injunctions) in support of arbitral proceedings. The criteria for obtaining such relief broadly mirror those applied to freezing orders in standard court actions. Note: The Hong Kong judgments referred to below are not reported by LexisNexis®...
Powers of the court to grant interim measures (generally)
The court may grant interim measures under AO, ss 21 and 45.
AO, s 21 confirms that, before or during arbitral proceedings, a party may seek an interim protective measure from the court without offending the arbitration agreement, and the court may grant that relief.
AO, s 45 provides that, in relation to arbitral proceedings commenced or to be commenced in or outside Hong Kong, the court can grant
Arbitration
PRACTICE NOTES
ARCHIVED: This Practice Note is archived and is not maintained.
Under the Arbitration Ordinance, Chapter 609 (AO), the Hong Kong court may grant a range of interim measures in aid of arbitration proceedings. Such measures are principally intended to uphold the arbitral process, avoid frustration of the award, regulate how the parties conduct themselves, and protect assets or evidence. The arbitral tribunal also has corresponding powers to grant interim measures under AO, s 35. Note: the Hong Kong judgments below are not reported by LexisNexis® UK.
Power of the court to stay court proceedings in favour of arbitration
Where a party so requests, the court can stay its proceedings and refer the parties to arbitration if the action is brought in a matter that is subject to an arbitration agreement, unless that agreement is invalid, inoperative, or incapable of being performed (AO, s 20). When
Arbitration
PRACTICE NOTES
Introduction to the Insurance Act 2015
The Insurance Act 2015 (IA 2015) was granted Royal Assent on 12 February 2015 and, save for Part 6, commenced on 12 August 2016. It marks the most far-reaching overhaul of the statutory framework of English insurance contract law since the Marine Insurance Act 1906 (MIA 1906). This Practice Note examines the principal provisions of IA 2015 and the ways in which they reform the law. It also reviews reforms introduced by the Enterprise Act 2016 (EA 2016), with relevant sections taking effect in May 2017. This Practice Note addresses IA 2015 provisions relating to:
the duty of fair presentation
remedies for a breach of that duty
warranties and other terms
fraudulent claims
amendments to the Third Parties (Rights Against Insurers) Act 2010 (TP(RAI)A 2010)
contracting out
damages for late payment of
Insurance & Reinsurance
PRACTICE NOTES
large and public client off-payroll regime
As outlined in Practice Note: IR35-introduction, developments and key difficulties, the IR35 framework has two principal strands covering distinct engagement scenarios. This Practice Note addresses, in detail, the strand of the IR35 regime that applies when:
from 6 April 2017, a public authority, and
from 6 April 2021, a private sector entity (other than one that is ‘small’ or lacks a ‘UK connection’)
In those circumstances, the end client engages a worker to provide services through an intermediary, for example a personal service company (PSC). Throughout this Practice Note, and all related materials within this subtopic, this strand is described as the ‘large and public client off-payroll regime’.
The alternative strand of IR35 operates in all remaining situations, such as where the hiring end client is a small private sector body, or one without a UK
Tax
PRACTICE NOTES
Background
This Practice Note explores the law of irritancy within the sphere of commercial leases in Scotland. It examines the distinction between legal and conventional irritancies, the procedure for exercising irritancy, available defences, and the consequences for sub-leases and charge-holders. It does not cover:
human rights challenges to irritancy
the interaction of irritancy with the corporate insolvency regime
irritancy in the context of residential property, see Practice Note: Residential tenancies in Scotland—bringing to an end
irritancy in the context of agricultural property, see Practice Note: Irritancy of agricultural tenancies in Scotland
Irritancy is a landlord’s remedy that permits termination of a lease following a tenant’s breach. It is equivalent to the English remedy of forfeiture. An irritancy may arise by operation of law or be conventional.
Legal irritancy
An irritancy arising by law is known as a legal irritancy. Under Scots common law, the sole recognised legal irritancy is for
Property Disputes
PRACTICE NOTES
Main remedies in Scottish landlord and tenant disputes
The principal remedies available in the context of landlord and tenant disputes in Scotland are:
Interdict
Specific implement
Payment action
Damages action
Rescission
Retention of rent
Irritancy
Hypothec
Action for recovery of heritable property
Interdict
Interdict is a court remedy used to restrain an actual or threatened breach of contract by a party; for example, a landlord may seek it to stop a tenant using the premises for a purpose other than that for which it is let. It is the counterpart of the English remedy of injunction. An interdict can be obtained in the Court of Session (by petition or summons, see: Introduction: Stair Memorial Encyclopaedia [88]) or in the sheriff court (by initial writ, see: Form of writ: Stair Memorial Encyclopaedia [382]). If brought in the sheriff court,
Property Disputes
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