Cash fund meaning

Purpose If you need to acquire assets—particularly high-cost capital equipment—but lack the cash to pay outright, leasing or hire purchase (HP) can provide an alternative to a loan. These options allow payment by instalments over time so future business revenues can fund those instalments. Cars and commercial vehicles Agricultural machinery Plant and machinery Computers Office equipment such as printers/copiers Hotel/restaurant equipment Review checklist—key risks Cost Under a lease or HP arrangement, the lessee/hirer pays a deposit and a series of instalments across an agreed period (usually 24 to 60 months or more). With HP only, there is an option—without any obligation—to buy the asset(s) at the end of the hire term. CHECK: the total payable under the lease or HP agreement does not exceed the interest otherwise payable on a loan for the same period...

In this issue: Criminal procedure and evidence Proceeds of crime Appeal and judicial review Sentencing Bribery, corruption, sanctions and export controls Cybercrime and data protection offences Environmental offences Financial services and pensions offences Food safety and hygiene offences Fraud, forgery, tax and theft offences Health and safety and corporate manslaughter offences Local authority prosecutions Money laundering International LexTalk®Corporate Crime: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Criminal procedure and evidence Court delays soar as backlogs break records Between April and June 2025, the criminal courts in England and Wales amassed an unprecedented caseload of almost 440,000, with incoming matters exceeding disposals and a system hampered by long-standing funding shortfalls. In response, the Ministry of Justice (MOJ), together with The Rt Hon David Lammy MP, confirmed extra resources to accelerate outcomes for...

In this issue: Funding and investment Scheme governance Pension scams and liberation Daily and weekly news alerts Dates for your diary Trackers Funding and investment TPR publishes revised employer covenant guidance to align with new DB funding code of practice The Pensions Regulator (TPR) has at last issued revised guidance on the employer covenant for trustees overseeing defined benefit (DB) pension schemes, to align with its new DB funding code of practice, which took effect on 12 November 2024 under the Pensions Act 2004 (Code of Practice) (Defined Benefit Funding) Appointed Day Order 2024 (SI 2024/1143). Described by TPR as ‘the last piece of the jigsaw to help schemes carry out valuations under the new DB funding code’, the update introduces the first regulatory definition of employer covenant, intended to deliver greater market certainty and foster consistency between schemes. Notable changes cover cash flow analysis, tests of reasonable affordability, maximum affordable contributions, reliability periods, covenant longevity, and...

In March 2024, Domino’s UK division said it would assume full ownership of its largest Irish franchise partner via a cash, share and debt transaction, subject to securing competition approval in the Republic of Ireland. The company is paying €72m in total for Shorecal, which also operates in Northern Ireland. It expects to fund 61% of the sum in cash, with the remaining 39% settled entirely in shares. It will further repay €19.9m of Shorecal’s outstanding debt. ‘The firm is pleased to state that, following clearance by the Republic of Ireland’s Competition and Consumer Protection Commission,...

This Practice Note addresses the disclosure duties applying from 6 April 2014 to occupational and personal pension schemes under the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013, SI 2013/2734 (the 2013 Disclosure Regulations). For information on disclosure requirements that apply outside the 2013 Disclosure Regulations, see Practice Note: Event-specific disclosure requirements for occupational and personal pension schemes. For details of the disclosure requirements that applied before 6 April 2014 to occupational and personal pension schemes, see Practice Notes: Occupational pension schemes—disclosure requirements before 6 April 2014 (ARCHIVED) and Personal pension schemes—disclosure requirements before 6 April 2014 [Archived]. In this Practice Note, references to ‘trustees’ include, in the context of a contract-based scheme, the managers of the scheme. Introduction of new disclosure regime from 6 April 2014 The 2013 Disclosure Regulations took effect on 6 April 2014, amalgamating the disclosure provisions previously set out in: the Occupational Pension Schemes (Disclosure of Information) Regulations 1996, SI 1996/1655—repealed, and the Personal Pension Schemes (Disclosure...

THIS PRACTICE NOTE APPLIES IN RELATION TO DEFINED BENEFIT LIABILITIES How defined benefit (DB) liabilities ought to be assessed depends on a number of factors, in particular: the valuation approach to be adopted. Common exercises undertaken comprise the following: scheme-specific funding valuations as required under Part 3 of the Pensions Act 2004 (PeA 2004) solvency (or buy-out) valuations as required by the Occupational Pension Scheme (Scheme Funding) Regulations 2005, SI 2005/337, reg 7 valuations required by the PeA 2004, ss 143 and 179 (often described respectively as s 143 valuations and s 179 valuations) neutral estimates to meet the requirements of Technical Actuarial Standard 300 (Pensions) cash equivalent transfer values (CETV) as specified under the Occupational Pension Schemes (Transfer Values) Regulations 1996, SI 1996/1847 IAS19 and UK GAAP valuations whether the liabilities under review concern past service or future service, as distinct categories This Practice Note sets...

This Practice Note explores the position of depositaries under the UK framework that transposes the Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (AIFMD). It examines the depositary obligations within the UK AIFM regime, setting out which UK entities can serve as a depositary, the scope of their functions (including oversight), and the rules on delegation, liability, and the depositary agreement. For details on the parallel EU regime, see Practice Note: EU AIFMD—depositaries. UK implementation of AIFMD depositary requirements The AIFMD has been given effect in the UK through a blend of primary legislation in the Financial Services and Markets Act 2000 (FSMA 2000), secondary legislation—principally the Alternative Investment Fund Managers Regulations 2013, SI 2013/1773 (AIFM UK Regulations)—and rules made by the Financial Conduct Authority (FCA) across its Handbook, chiefly in the Investment Funds sourcebook (FUND). Within the FCA Handbook, AIF depositary provisions sit mainly in FUND 3.11 (in accordance with the table in FUND 3.11.2 R and FUND 3.11.3 R). These rules are supplemented by Articles 83 to...

We must not use a client account to provide banking facilities for clients or third parties. This is a firm requirement of rule 3.3 in the SRA Accounts Rules, covering our main client account and any separately designated client accounts as well. Permitting use of our client account as a banking facility creates the risk that we could potentially facilitate money laundering or comparable offences. You must understand and adhere to our policy on anti-money laundering (AML), counter-terrorist financing (CTF), and counter-proliferation financing when taking receipt of client or office monies. This also encompasses our distinct policy on accepting cash. The SRA may levy substantial penalties for breach of rule 3.3. There need not be a risk of money laundering, or any hint of impropriety, for this to apply. A breach of rule 3.3, by itself, is enough for the SRA to impose a penalty on the firm and/or any individuals concerned. We should only accept funds into our client account where...

This Deed of Partition is dated [ date ] Parties 1 [ life tenant ] of [ address ] (the Life Tenant ) 2 [ remainderman ] of [ address ] (the Remainderman ) and 3 [ trustee ] of [ address ] and [ trustee ] of [ address ] (the Trustees ) Background (A) This Deed is supplemental to a trust dated [ date ] and made between [ parties ] (the Trust ). (B) Under the Trust [ and in the events that have occurred ] the Trustees hold the Trust Fund on trust to pay its income to the Life Tenant during their lifetime and, subject to that, on trust as to both capital and income for the Remainderman absolutely. (C) The Trust Fund comprises the investments and capital cash described in Part A of the Schedule...

1 Nil Rate Band Discretionary Trust If my [ insert spouse details ] survives me, I direct my trustees to set aside either: the maximum sum or assets on which no inheritance tax arises on my death, as trustees judge; or such lesser assets or cash as they decide. This forms the “Discretionary Trust Fund” for any of: my [ insert spouse details ], my children and their issue, any trust created for the benefit of any of them, whether of income, capital or discretionary nature (each a “Beneficiary”). In shares the trustees determine by minute. The trustees may by minute award legacies, residue shares, income interests or future/contingent rights in all or part of the fund, including income accumulation, capital vesting, powers to appoint income or capital, and their discretion. Subject to that, they may accumulate income to capital during any permitted period, or (after that period shall) apply all income...