CREST meaning

In this issue: Building safety Procurement in construction Arbitration Planning in construction Infrastructure projects Tax for construction lawyers Construction industry news LexTalk®Construction: a Lexis®Nexis community Daily and weekly news alerts New and updated content Construction trackers Building safety Building liability orders—‘anticipatory’ orders and adjudication decisions (Crest Nicholson v Ardmore) In Crest Nicholson Regeneration Limited v Ardmore Construction Limited [2026] EWHC 789 (TCC), the TCC handed down what seems to be only the second judgment considering an applicant’s right to a building liability order (BLO) under section 130 of the Building Safety Act 2022. The applications arose from a dispute concerning fire safety and other defects at a residential scheme in Portsmouth. The applicants asked the court to grant: (i) ‘anticipatory’ BLOs against multiple defendants, making them jointly and severally liable for any liability the first defendant may ultimately be found to owe under section 1 of the Defective Premises Act 1972, or...

In this issue: Payment Building safety Scots law Consultants on construction projects Guarantees Construction industry news Daily and weekly news alerts New and updated content Construction trackers Payment Late payments—Tackling poor payment practices—government response Tim Wright, Partner in technology, outsourcing and commercial at Fladgate LLP, reviews the government’s reply to the late payment consultation ‘Time to Pay Up’, issued on 24 March 2026, setting out the most far‑reaching measures to deal with overdue payments in more than a quarter of a century. Government figures suggest overdue invoices drain £11bn annually from the UK economy and push 38 firms out of business each day. The reform bundle would grant the Small Business Commissioner (SBC) stronger authority to probe, determine and penalise firms; impose a hard ceiling of 60 days on payment terms; mandate statutory interest at 8% over the Bank of England base rate; fix a legal cut‑off for challenging invoices; and float a prohibition...

In this issue: Probate Trusts Elderly and vulnerable clients UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Regulatory compliance for Private Client Budgets and Finance Bills Charity and philanthropy Scotland, Wales and Northern Ireland International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Useful information Probate Bereaved Partner’s Paternity Leave Regulations 2026 (SI 2026/237): these Regulations create a new statutory entitlement for an employee to take time off to care for a child during the first year following birth, placement for adoption, or arrival in Great Britain for an overseas adoption, where the child’s primary carer has died (bereaved partner’s paternity leave). They take effect on 6 April 2026. See: LNB News 15/01/2026 18. Trusts Representation orders...

FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Stamp duty and SDRT are set, in 2027, to be replaced by a single, self-assessed levy on securities, the securities transfer charge (STC), which will be paid and reported via a new online portal service. The core design of the STC will broadly mirror the proposals for that regime set out in the consultation carried out in 2023. Finance Bill 2026 (FB 2026) creates a power, commencing on Royal Assent, to permit secondary legislation so that taxpayers can pilot the new digital service by self-assessing their stamp taxes on securities liabilities and submitting transactions electronically through a digital system. For more detailed information on the modernisation of stamp taxes on securities, see News Analyses: Budget 2025—Tax analysis—Stamp and transfer taxes, Tax update spring 2025—Stamp taxes on shares modernisation, Tax update spring 2025—Tax analysis—Stamp and transfer taxes, TAMD 2023—Stamp taxes on shares modernisation, TAMD 2023—consultation—stamp taxes on shares and Tax Administration and Maintenance Day—27 April 2023—Stamp and transfer...

This Practice Note provides an overview of the process of making a rights issue in CREST It does not attempt to introduce CREST or uncertificated securities, nor does it offer practical steps for transferring shares through CREST. For guidance on those topics, including a summary of key terms, refer to Practice Note: CREST and uncertificated shares—an introduction. For a synopsis of how various shareholder and company actions are carried out within CREST, see Practice Note: CREST—shareholder and general corporate actions. For a guide to conducting an open offer in CREST, consult Practice Note: CREST—open offers. For how to accept a takeover offer via CREST, see Practice Note: CREST—takeover offers. The general mechanics of undertaking a rights issue fall outside the remit of this Practice Note. It addresses solely the aspects that differ, or merit specific comment, where a rights issue is implemented through CREST. For broader information on rights issues and the matters that listed or AIM companies should evaluate when proposing a rights issue, see Practice Notes: Rights...

FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: From 2027, stamp duty and SDRT will be replaced by a single, self-assessed tax on securities—the securities transfer charge (STC)—which will be paid and reported via a new online portal. The STC’s features will largely reflect the proposals for that tax set out in the 2023 consultation. Finance Bill 2026 (FB 2026) provides a power, commencing on Royal Assent, to introduce secondary legislation so taxpayers can pilot the digital service by self-assessing their stamp taxes on securities liabilities and submitting transactions electronically. For more on the modernisation of stamp taxes on securities, see: News Analyses: Budget 2025—Tax analysis—Stamp and transfer taxes Tax update spring 2025—Stamp taxes on shares modernisation Tax update spring 2025—Tax analysis—Stamp and transfer taxes TAMD 2023—Stamp taxes on shares modernisation TAMD 2023—consultation—stamp taxes on shares Tax Administration and Maintenance Day—27 April 2023—Stamp and transfer taxes...

[ ON THE LETTERHEAD OF THE PLACING AGENT ] An application has been submitted for the entire issued and to-be-issued ordinary share capital of the Company to be admitted to trading on AIM. It is anticipated that Admission will take effect and dealings in the Ordinary Shares will begin on AIM on [ insert expected date of admission to AIM ]. [ insert name of Placing Agent ] accepts no liability whatsoever for the accuracy of any statements or opinions contained within the Admission Document (as defined below), for which [ insert name of Placing Agent ] bears no responsibility, nor for any omission of material information from the Admission Document. Recipients of this document should note that, in connection with the Placing (as defined below) and Admission, [ insert name of Placing Agent ] is acting solely for the Company and for no one else, and will not be responsible to any person other than the Company for providing the protections afforded to its clients or for advising...

Company No: [ insert number ] [ Insert company name ] PLC Minutes from a meeting of [ a committee of ] the board of directors (the Meeting) of [ insert full name of company ] plc (the Company) Convened at [ insert place of meeting ] On [ insert day, month and year of meeting ] at [ insert time of meeting ] [ am OR pm ] Present [ Insert the names of the director(s) in physical attendance ] [ Insert the names of any directors attending by remote means (except where such means are specifically disallowed by the Company’s articles of association) (via [ insert mode of attendance for each director participating remotely ]) ] In attendance: [ Insert the name of anyone in attendance who does not count towards the quorum for the Meeting (eg the company secretary, any legal advisers) ] Apologies: [ Insert...

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are uncertain about any aspect of the proposals described in this document, or about what action you ought to take, seek guidance without delay from your stockbroker, bank manager, solicitor, accountant, or an independent financial adviser duly authorised under the Financial Services and Markets Act 2000. If you have disposed of or otherwise transferred all of your shares in the capital of the Company, please forward this document to the buyer or transferee, or to the stockbroker, bank, or other person through whom the sale or transfer was arranged, for transmission to the purchaser or transferee. [ INSERT COMPANY NAME ] PLC (the Company) (incorporated in England and Wales with registered number [ insert number ]) [ Kindly complete and submit the enclosed form of proxy in accordance with the instructions printed on it. The form of proxy must be completed, signed, and returned so as to reach the Company’s registrars by no later than...