Absolute return meaning

In this issue: Corporate governance Tax treatment HMRC Manuals tracker Dates for your diary Weekly highlights from other practice areas Corporate governance Babcock suffers investor dissent over executive pay FTSE 100–listed Babcock International Group PLC faced significant shareholder resistance to its executive remuneration at this week’s general meeting. Over 32% of votes went against the Directors’ Remuneration Policy, and more than 32% also opposed amendments to the performance share plan (PSP), though in each instance a majority of those voting backed the resolutions. Under the plans, the PSP—which delivers annual equity awards that vest after three years based on a scorecard of performance targets—would gain an additional absolute Total Shareholder Return (TSR) ‘kicker’ for awards granted from the 2026 financial year. Consequently, once the existing ‘core’ scorecard has determined vesting of the current ‘core’ opportunities (set at 250% and 200% of salary for the CEO and CFO, respectively), a further multiplier, linked to the company’s absolute TSR,...

Don’t let the perfect be the enemy of the realistic (Local Authority v A & Others) A Local Authority v A (by her litigation friend, the Official Solicitor) and others [2024] EWCOP 19 What are the practical implications of this case? Although the courts labelled the facts as ‘extraordinary’ and ‘highly abnormal’, the core lesson for practitioners is simple: do not let the ideal overshadow what is achievable in reality. When deciding what best serves a person who lacks capacity, professionals ought not to pursue supposedly risk-free choices that are unavailable or unreal, particularly where that riskless route most restricts the protected person’s autonomy and human rights. The focus should be on workable arrangements, not on unattainable perfection, especially where absolute safety would come at the greatest cost to the individual’s freedoms. Under the Mental Capacity Act 2005, everyone, including the court, must try to meet their objectives by adopting the least restrictive approach (MCA 2005, s 1(6)). That requires a grounded, practical weighing of each option’s...

In this issue: Practice and procedure Relationship breakdown Public children Private children Financial provision Enforcement International children Daily and weekly news alerts Updated content New content New Q&A Useful information Practice and procedure Nuffield Family Justice Observatory briefing—AI in the family justice system The Nuffield Family Justice Observatory has released a briefing intended to stimulate open debate on how artificial intelligence might enhance the experiences of families and practitioners in the family justice system; see: AI in the family justice system. OPRC publishes response summary to Online Procedure Rules 2026 consultation The Online Procedure Rule Committee (OPRC) has issued a synopsis of replies to its consultation on the draft Online Procedure (Core Rules and Pilot Schemes) Rules 2026. The exercise drew 28 submissions from a varied cross-section of contributors, who were generally supportive of a principles-led framework for online proceedings. Nevertheless, respondents offered constructive remarks on several priority themes,...

This Practice Note explores the entitlement to parental bereavement leave (PBL) — often referred to as ‘Jack’s Law’ — and statutory parental bereavement pay (SPBP) created by the Parental Bereavement (Leave and Pay) Act 2018 (PB(LP)A 2018). It addresses who qualifies for leave, the notice rules, how parental bereavement leave interacts with other forms of statutory leave, employees’ rights and duties while away, protection from detriment, protection from dismissal, and the availability of SPBP. The Practice Note also includes best practice suggestions drawn from Child Bereavement UK. Guidance from the charity Child Bereavement UK indicates that bereavement is among the most frequent issues likely to affect employees’ performance at work; around one in ten members of staff is experiencing a bereavement at any given moment. Research conducted for Co-op Funeralcare in 2018 found that 58% of adults felt under pressure to return to work following a loss, and 30% believed they needed more than a fortnight off before they were genuinely ready to resume work...

This Practice Note sets out the current position regarding statutory neonatal care leave (NCL), and statutory neonatal care pay (NCP), through which working parents whose babies enter neonatal care may take as much as 12 weeks’ in total paid absence. For a definition of neonatal care, refer to: What is meant by neonatal care, below...

Note: the Swiss cases referred to below are not reported by LexisNexis®. Introduction and the Structure of this Note The question of immunity arises most often in relation to diplomats, and also consular officials and employees. Immunity is enjoyed by foreign states; numerous intergovernmental and international organisations under headquarters agreements with the Swiss Confederation; the assets of foreign central banks; and state cultural property, whether brought to Switzerland with or without a return guarantee. No immunity applies to foreign state-owned enterprises or to ordinary foreign state-owned banks. Immunity operates solely as a shield. Where an individual, entity, or state benefits from it, the host state may neither exercise jurisdiction over them nor enforce against their assets. Nevertheless, they remain part of legal life and may choose to participate in legal transactions within this forum. Swiss law, like most systems, distinguishes between immunity from jurisdiction and immunity from enforcement, and under Swiss law neither is absolute. The implications of public entities...

1 Introduction 1.1 This document explains the Company’s approach to sabbaticals, which typically run from [ insert number, eg two ] to [ insert number, eg six ] months. While you are on sabbatical, your employment continues, but entitlement to salary and [ certain ] other benefits is suspended. [ If you would prefer a longer career break, please refer to the Company’s career breaks policy, available from the [ HR department ]. ] 1.2 This policy applies solely to employees. It does not cover agency workers, consultants [ , contractors ] , volunteers [ , interns ] or casual workers. 1.3 [ This policy has been [ agreed OR put in place following consultation ] with [ [ enter name of relevant trade union(s) ] OR [ enter name of works council ] OR [ enter name of staff association ] ] . ] 1.4 This policy is not part of any contract of employment and the Company may revise it at any...

3 Consent to Assignment The Landlord grants consent to the Assignment subject to this Licence; however, unless clause 3.3 applies, that consent will lapse and this Licence will end if completion has not occurred within [ 3 ] month[ s ] from and including today, save that the Landlord may, in its absolute discretion, extend that period... If the Assignment is not registered at HM Land Registry within [ 3 ] months after completion, the Landlord may, at its absolute discretion, notify the Tenant to terminate this Licence, which (subject to clause 3.3) will determine immediately upon service... Termination under clause 3.1 [ or clause 3.2 ] does not: (a) affect the Tenant’s liability under clause [ 6.1 of this Licence OR [ number ] of the Lease ]; (b) prejudice the Landlord’s rights regarding any earlier breach of this Licence by any other party; or (c) require the Landlord to return any monies paid to it in relation to this Licence...