Activation meaning

Competition policy Autumn Budget 2024—key competition law announcements In the Autumn Budget 2024, on 30 October 2024, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, set out a series of updates concerning the CMA: The CMA is allocated £139.4m for 2024–25 and £14.4m for 2025–26 to strengthen competition for the benefit of consumers. This package includes backing for the Digital Markets Unit, created to supervise a new regulatory framework for major digital companies, encouraging competition and innovation, and safeguarding consumers and business from unfair practices. In step with plans to introduce a statutory open data scheme for road fuels prices—Fuel Finder—the government intends to bring into effect the CMA’s road fuels information gathering powers under the Digital Markets, Competition and Consumers Act 2024 by January 2025. For further information, see Autumn Budget 2024. Upcoming dates For dates of upcoming UK competition developments, see further, UK Competition calendar...

HMCTS: Employment Tribunal Reform Project—Urgent update for ET professional representatives (May 2024). What are the practical implications of this development? This update from HMCTS, dated 24 May 2024, points practitioners to a YouTube tutorial outlining the revised MyHMCTS digital process. From 30 May 2024, professional users (ie solicitors, barristers, advocates and regulated professional representatives with a Companies House number) are required to issue claims through the MyHMCTS portal for Scotland, Leeds, Midlands East, South West England, and any of the three London offices. Those professional users (ie solicitors, barristers, advocates and regulated professional representatives with a Companies House number) who have not yet created a MyHMCTS profile should register without delay, as activation of an account may take up to five days. In due course, when the online service is launched for the remaining locations, professional users will also be expected to file ET1s via MyHMCTS at all other tribunal offices across England and Wales. The letter emphasises that all claims must be lodged online and reiterates the strictly...

Overage is a promise or contractual duty on the purchaser to pay the seller an additional sum, over and above the original price, if a defined event takes place. Clients should be made aware that receiving this extra payment is far from guaranteed. For example: the relevant trigger may not occur within the agreed overage period the local authority’s development plan for the site, or other property-related circumstances, may alter over time even if the trigger occurs, the purchaser may simply fail to pay the seller the purchaser could become insolvent in the meantime At the outset At the outset (i.e. when the heads of terms are circulated), assess whether overage is suitable for the transaction. How likely is it that the overage will be activated within the expected period? If activation is virtually certain, a more fitting approach may be to increase the price instead. If overage is included merely for a ‘what if?’ scenario, consider whether it is...

On construction schemes, it is routine for the contractor, principal sub‑contractors and consultants (together called warrantors in this Practice Note) to issue collateral warranties to a range of parties, including funders and purchasers (termed beneficiaries in this Practice Note). See Practice Note: What are collateral warranties? Collateral warranties establish a direct contractual relationship between the beneficiary and the warrantor. Without that link, a beneficiary would have no basis to pursue the warrantor if it fails to properly discharge duties under the building contract, sub‑contract or professional appointment, as applicable. Typically, a collateral warranty includes an undertaking mirroring obligations in the underlying agreement, and also addresses issues such as copyright licences, assignment, professional indemnity insurance, and, in some instances, a clause granting step‑in rights. This Practice Note sets out what step‑in rights involve, identifies which parties in a construction project are commonly given such rights, and outlines the usual procedure for triggering them. In addition to collateral warranties, step‑in rights are frequently incorporated into development agreements (for an...

After a property and financial affairs or health and welfare lasting power of attorney (LPA) has been registered by the Office of the Public Guardian (OPG), the OPG will send confirmation of registration to the donor and the appointed attorney(s). When an attorney wishes to act for the donor, they must show the relevant person or organisation that they have authority to do so. They can do this by either of the following: Presenting the original LPA or a certified copy of the registered LPA Using the government’s online service ‘Use a lasting power of attorney’ Both options are outlined below. Online ‘use an LPA’ service This OPG service gives individuals or organisations access to an online summary of the LPA and enables the attorney(s) and/or the donor to monitor who has been granted access. The service is only available for LPAs registered on or after 1 January 2016 and applies to LPAs registered in England and Wales. To begin...