Cost plus meaning

Mergers The Commission approved Brookfield Corporation’s takeover of sole control of Oaktree Capital Group Holdings, LLC (M.12284) following a phase I review—see further, Midday Express The Commission received filings for: Clarios/Ecobat Germany/Ecobat Austria (M.12145) (ordinary merger procedure) JLL/PIF/FMTECH (M.12358) (simplified merger procedure) NOTE—For all active merger probes before the Commission, see further, EU mergers—ongoing cases tracker Competition policy The Commission stated that Executive Vice-President, Teresa Ribera, convened an implementation dialogue on the effects of mergers, productivity, sustainability, and the cost of living—see further, implementation dialogue and Midday Express NOTE—For all current EU competition law legislative, guidance and wider policy work, see further, EU competition horizon scanning—2026 and beyond State aid The Commission adopted a decision under the Clean Industrial Deal State Aid Framework (CISAF) authorising a Spanish measure (valued at €200m) to back strategic investments expanding manufacturing capacity across the electric...

In this issue: Advertising, marketing and sponsorship Contracts International Public procurement Daily and weekly news alerts New and updated content Dates for your diary Trackers Latest Q&A Commercial Highlights 2025/2026 Advertising, marketing and sponsorship ASA rulings—17 December 2025 The Advertising Standards Authority (ASA) received six objections about adverts for weight-loss medicines and services, covering promotion of prescription-only medicines, irresponsible body-image messaging and gender stereotyping, plus assertions that a medicine assists beyond its authorised indication. The ASA upheld the complaints. See: LNB News 17/12/2025 20. Which? finds budget airlines’ cabin bag fees far higher than advertised Consumer's Association (Which?) carried out research into budget airline bag pricing, finding that major carriers such as RyanAir and Easyjet routinely fail to include in the advertised total the realistic cost of baggage. Which? has referred its findings to the ASA for misleading 'from' price claims and the ASA is investigating. See: LNB News 15/12/2025 14....

In this issue: Housing Building regulations Developments of national significance/infrastructure consents in Wales Daily and weekly news alerts New and updated content Related Documents Housing MHCLG publishes policy paper on brownfield passports. The Ministry of Housing, Communities and Local Government (MHCLG) has released a policy paper on ‘brownfield passports’. It outlines plans to maximise clarity and certainty around making best use of urban land, with further changes to policy at national and/or local level covering the principle, scale and form of development in different locations. Framed as a ‘brownfield passport’, policy would set clear parameters for brownfield schemes which, if satisfied, act as accepted indicators of suitability, making approval the default and accelerating decisions. The passport is intended to reduce the risk, cost and uncertainty of obtaining planning permission. These proposals sit within the government’s ‘brownfield first’ approach to development. See: LNB News 23/09/2024 12. Building regulations Welsh Government publishes statement on building safety. A new...

UK battery strategy In December 2023, the UK government set out its battery strategy, created by and delivered through the UK Battery Strategy Taskforce. Its core pillars are: Design Build Sustain The principal aim to 2030 is to establish a robust UK battery supply chain. Regulation is expected to evolve to incorporate extended producer responsibility (EPR) obligations, shifting the full cost of managing household waste to producers, in line with the ‘polluter pays principle’. Under EPR, producers are anticipated to: Achieve updated recycling targets Provide clear recyclability labelling Commitments by the UK government and the devolved administrations to implement EPR appeared in the 2018 Resource and Waste Strategy for England and the Welsh Government’s Beyond Recycling. Alongside outlining Defra’s future commitments and actions, the strategy set a long-term policy trajectory, reflected in the Environment Improvement Plan 2023 for England. For further detail, see Practice Note: Waste management plan and policies—England. Part 3 of the...

Justification—the ‘justification defence’ This Practice Note explores the concept of justification—often termed the ‘justification defence’—within discrimination under the Equality Act 2010 (EqA 2010). It addresses what may amount to a proportionate means of achieving a legitimate aim. It assesses proportionality in cases of indirect discrimination (EqA 2010, s 19(2)(d)), including where the objective is to prevent discrimination linked to other protected characteristics. It reviews the notion of a provision, criterion or practice (PCP) and considers issues arising in relation to direct and indirect age discrimination (EqA 2010, s 13(2)) and the Heyday case. In doing so, it evaluates objective justification, defence (no discrimination), the burden of proof, the approach a tribunal should adopt, and circumstances where discrimination rights come into conflict. This Practice Note includes references to case law of the Court of Justice of the European Union (CJEU). For guidance on whether judgments of the Court of Justice are binding on UK courts, see Practice Note: Assimilated law—Assimilated case law. Domestic measures enacted to fulfil UK obligations under...

What are JSOP awards? Jointly owned shares are exactly what the term suggests: shares held together by an employee or director and another party — either a company investor or, more typically, the trustees of an employee benefit trust (EBT). Joint share ownership arose as a substitute for other share incentive arrangements, for example share options, restricted shares or performance share plans (frequently delivered via nil cost options). Under a joint share ownership plan (JSOP), the value received equals the uplift in the share price after grant (usually plus a ‘carrying cost’). Consequently, a JSOP operates like a market value share option, albeit with a distinct tax outcome. In essence, the plan focuses value on growth arising after grant, rather than existing value at the time of award for participants today. Commercial rationale The JSOP model offers a number of commercial strengths when set against alternative award structures. These include: Compared with share options or performance share plans where share acquisition is deferred: ...

Insert the following as a new definition (if not already included) in the definitions and interpretation clause of the share purchase agreement: 1 Definitions and interpretation Warranties means the warranties [ and representations ] set out in Schedule [ insert number ], and Warranty denotes any one of them; 1 Termination of this Agreement by the Buyer 1.1 In addition to any entitlement of the Buyer to recover damages for a breach of Warranty, the Buyer may terminate or rescind this Agreement (as applicable) at any time with immediate effect by written notice to the Seller if, between the date of this Agreement and Completion: 1.1.1 the Seller is in breach of clauses [ insert number ] to (and including) [ insert number ]; 1.1.2 [ the Seller is in [ material ] breach of any of the Warranties or would be in [ material ] breach of the Warranties if the Warranties were repeated at Completion, or...

Date and Parties Date, Licensor and Licensee details, including incorporation, registered office and company numbers, to be inserted. Definitions Car Park: as shown on the Plan. Lease, Legislation, Licence Fee, Licence Period, Permitted Hours, Plan, Regulations, Space(s), VAT, Working Day: as specified. Licence Non-exclusive right to park designated cars in the Space(s) and to use access routes in common with others, without obstruction. Licensee’s obligations Pay the Licence Fee (plus VAT) in advance; contribute rates/outgoings; observe Regulations. On expiry, clear and tidy the Space(s). Dealings Licence is personal or tied to the Lease; no sharing or assignment except as permitted. Breach, Indemnity, VAT and Interest Breaches to be remedied promptly; Licensor may step in at the Licensee’s cost. Licensee indemnifies the Licensor. VAT payable on sums; interest due on late payments. Termination, Liability and No Tenancy Ends on expiry or for material breach. Fees remain due to...

Costs estimate to final hearing Dear [ insert client name ] Following the financial dispute resolution (FDR) appointment on [ insert date ], I am providing a summary of costs up to and including the final hearing listed for [ insert date ] in this matter. As outlined in our terms of business dated [ insert date ], my hourly rate stands at £[ insert amount ] [ plus VAT ]. [ insert name ] will continue to oversee the matter overall and will provide input into preparation for the final hearing. To control expenditure, tasks will, where appropriate, be allocated to other fee earners within the team who work at different hourly rates. For your information and records, I enclose a schedule detailing our hourly rates...