Bona vacantia meaning

In this issue: Corporate governance Equity capital markets Company striking off and dissolution Financial services regulation for corporate lawyers Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Corporate governance Commission adopts ‘quick fix’ amendments to European Sustainability Reporting Standards The European Commission has introduced a Delegated Regulation amending Delegated Regulation (EU) 2023/2772, the framework that defines the European Sustainability Reporting Standards (ESRS). These standards set out the disclosures companies must provide to satisfy sustainability reporting duties under the EU Corporate Sustainability Reporting Directive (CSRD). The targeted ‘quick fix’ measures seek to lessen both immediate and longer-term compliance demands for businesses already reporting under the CSRD for the 2024 financial year (the so‑called ‘wave one’ companies). In line with the ‘Stop the Clock’ Directive, adopted within the February 2025 sustainability omnibus package (Directive (EU) 2025/794), other entities (described as ‘wave two’ and ‘wave three’ companies) have had...

In this issue: Key developments and horizon scanning Residential property Property development Statutory compliance Transferring property Property insolvency Property taxes Property in Scotland Statutory compliance Additional property updates this week Daily and weekly news alerts New and updated content Trackers Key developments and horizon scanning Property and Property Disputes—major developments in 2025 and a comprehensive look ahead to 2026. This News Analysis brings together and summarises the principal shifts across Property and Property Disputes in England & Wales during 2025 and anticipates what is on the horizon for 2026. This edition spotlights business tenancies, the Leasehold and Freehold Reform Act 2024, residential tenancies, building safety, service charge and outgoings, commonhold, electronic communications, contractual controls on land, adverse possession, investigating title, the ‘Etridge’ protocol, energy performance and business rates. See News Analysis: Property and Property Disputes—key developments in 2025 and horizon scanning for 2026. Residential property RICS responds to government...

In this issue: Probate Court of Protection HMRC Manuals updates Tax avoidance, evasion and non-compliance Regulatory compliance for Private Client Budgets and Finance Bills Insolvency—Private Client Contentious trusts and estates Pensions, insurance and tax efficient investments Scotland, Wales and Northern Ireland International Question of the week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Latest Q&As Useful information Probate Bona Vacantia Division reinstates unclaimed estates list following fraud review Working with the Government Legal Department, the Bona Vacantia Division (BVD) has confirmed the restoration of the Bona Vacantia unclaimed estates list following a review of its release. Publication had been paused in July 2025 owing to allegations of fraud in the probate system. The review found no evidence that the unclaimed estates list was connected to fraudulent activity. Even so, BVD has judged...

Property Disputes (PD) This beginner’s guide sets out a primer on Property Disputes (PD). It is designed for trainee solicitors and practitioners encountering PD for the first time. The guide highlights the principal issues that commonly arise in PD and signposts other Lexis+® UK sources and materials offering fuller detail on the subjects covered. Newcomers to PD will also benefit from the Overviews within each PD subtopic. These provide a summary of every subtopic, with links to pertinent content inside that subtopic to aid navigation. For instance, see: Property insolvency—overview. The PD module further includes a Property Disputes introductory materials topic, containing links to training materials and “How to guides”, “Quick guides”, plus checklists and flowcharts. The PD module centres on property disputes in England and Wales, while a distinct subtopic focusses on Scottish property disputes (see: Property disputes in Scotland—overview). If a point is not addressed in this guide, use the PD practice area Topics tab or the Topics dropdown menu to explore additional content. This guide also...

This brief note outlines the actions required to return a company to the register by using the administrative restoration route after it has been removed at the behest of the Registrar of Companies under the Companies Act 2006 (CA 2006). For a full analysis of the legislation, case law and process on administrative restoration, see Practice Note: Company restoration—administrative restoration. For a practical step-by-step overview, see Flowchart: Company restoration—administrative restoration—flowchart. When to use the administrative restoration procedure You may use administrative restoration where the company was struck off on the Registrar’s initiative in accordance with CA 2006 (see Practice Note: The Registrar's powers to strike off a company for further detail). Compared with applying to the court, this route is generally more straightforward, faster and less costly, though the court process remains available even where the striking off was initiated by the Registrar. The administrative route to restore a company cannot be used if the company was struck off...

Where a company has been struck off, an application can sometimes be made to the registrar of companies to reinstate it to the register through administrative restoration. This Practice Note sets out the restoration process by administrative restoration under the Companies Act 2006 (CA 2006). Why restore a company to the register? Common reasons for using the administrative restoration procedure include: the company was still trading or otherwise in operation when the registrar struck it off the company held property at the time of strike-off and dissolution, which has now vested as bona vacantia What is administrative restoration? Introduced by the Companies Act 2006, administrative restoration offers a simpler way to place back on the register a company struck off under the registrar of companies’ powers, without the need to...

On dissolution of a company When a company is dissolved, all freehold and leasehold assets, together with rights belonging to, or held on trust for, the company immediately beforehand, are regarded as bona vacantia and pass to the Crown (or to the relevant Duchy). This captures leasehold interests, but excludes property the company holds on trust for someone else. See Practice Note: Bona vacantia and company property. The Crown has no duty to manage, dispose of, or deal with assets that vest in it as bona vacantia in any particular manner...

A person with an interest in property that has been disclaimed (for instance, a sub-tenant) retains that interest on the same terms and subject to the same rights and obligations as if no disclaimer had occurred. If they carry out the tenant’s obligations under the disclaimed lease, they cannot be removed; if they do not, the landlord may distrain or forfeit—as explained by Lord Nicholls in Hindcastle Ltd v Barbara Attenborough Associates Ltd: the sub-tenant’s interest is unaffected by the determination of the tenant’s interest. Thus the sub-tenant holds the estate on identical terms, and remains subject to the same rights and obligations, as would apply if the tenant’s interest had continued. If they pay the rent and perform the tenant covenants in the disclaimed lease, the landlord cannot evict them. If they fail to do so, the landlord may distrain upon their goods for the rent reserved by the disclaimed lease or commence forfeiture proceedings...

A company becomes dissolved (or treated as dissolved) after liquidation, administration, or its name being struck off the register by the Registrar of Companies. Once dissolved, the company ceases to have any existence. Upon dissolution, any assets and rights owned by, or held on trust for, the company immediately before dissolution are regarded as bona vacantia and pass to the Crown (or to the Duchy of Lancaster or the Duke of Cornwall if the company’s registered office was in Lancaster or Cornwall, respectively)...