Deposits meaning

Options for landlord This checklist outlines the choices open to a landlord of commercial premises where the tenant is an insolvent individual, and explains the effect of restrictions operating under the various insolvency regimes. Where a landlord of a commercial property seeks to take steps against an insolvent tenant who is an individual, this checklist should then be referred to to confirm whether the landlord is permitted to pursue such action...

This Checklist sets out the matters a landlord ought to weigh up where a tenant faces insolvency, highlighting the options open to the landlord, such as Commercial Rent Arrears Recovery (CRAR), forfeiture, drawing on a rent deposit, and pursuing former tenants, guarantors and sub-tenants. It further addresses practical considerations for the landlord, including steps for securing and marketing the property, and contacting the insolvency practitioner. What type of insolvency scenario applies to the tenant? The remedies that can be exercised, and the limits that will bite, differ depending on the particular insolvency arrangement affecting the tenant. Each procedure brings distinct constraints and options. For a table summarising the restrictions, see Practice Note: Quick guide to landlord’s remedies in tenant insolvency. Has contact been made with the insolvency practitioner? It is vital to liaise with the relevant insolvency practitioner to assess the tenant’s position and to evaluate what, if any, prospect exists of outstanding sums being repaid, future rents being protected, or the tenant emerging from the...

ARCHIVED: This Practice Note has been archived and is no longer being maintained. Structural banking reform and ring-fencing The global financial crisis underscored the necessity for international structural reform of banking. In the UK, the Government brought forward a suite of measures to bolster the resilience of the UK financial system and to avoid taxpayers carrying the burden when banks fail. The Financial Services (Banking Reform) Act 2013 (FS(BR)A 2013) inserted fresh measures into the Financial Services and Markets Act 2000 (FSMA 2000), obliging the largest UK banks to segregate, within their groups, essential retail banking services from other activities, such as investment and international banking. This separation is termed ring-fencing. Its objective is to shield UK retail banking from shocks arising elsewhere in a banking group, which could otherwise adversely affect global financial markets. Ring-fencing legislation applies only to UK banks with a three-year average of more than £25bn in ‘core deposits’—broadly from individuals and small to medium-sized businesses...

In this issue: UK, EU and international regulators and bodies Prudential requirements Operational resilience Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of derivatives Sustainable finance and ESG Banks and mutuals UK MiFID II Consumer credit, mortgage and home finance Regulation of insurance Payment services and systems Fintech and cryptoassets Dates for your diary Financial Services Enforcement Database New and updated content Daily and weekly news alerts Intraday news alerts LexTalk®Financial Services: a Lexis®Nexis community UK, EU and international regulators and bodies FSCS confirms unchanged levy for 2025/26 and provides early forecast for 2026/27 The Financial Services Compensation Scheme (FSCS) has issued its latest Outlook levy update for 2025/26, stating the levy will hold at £356m—as projected in May 2025—with no further levy anticipated for firms across the rest of this financial year. A preliminary view for...

In this issue: Enfranchisement and right to manage Service charges Disputes and remedies Residential tenancies Property disputes in Scotland LexTalk®Property Disputes: a Lexis®Nexis community Additional Property disputes updates Daily and weekly news alerts Dates for your diary New and updated content Trackers Enfranchisement and right to manage Can qualifying tenants prevent incumbrances created after an unlawful disposal from binding them? (Donovan v Prescott Place) In Donovan v Prescott Place [2024] EWCA Civ 298, [2024] All ER (D) 04 (Apr), a block of flats was sold to a purchaser without the vendor first offering the qualifying tenants the opportunity required by section 1 of the Landlord and Tenant Act 1987 (LTA 1987). The tenants eligible under the Act then obtained a court order pursuant to LTA 1987, s 19(1), directing the purchaser to transfer the building to their nominee company. After completion but before the s 19(1) order was made, the purchaser executed...

The European Banking Authority (EBA) has issued data concerning two significant concepts and indicators within the Deposit Guarantee Schemes Directive (DGSD): available financial means (AMFs) and covered deposits. The EBA releases this data for the deposit guarantee scheme (DGS) in each individual member state annually...

This Practice Note has been prepared in collaboration with Ms Koh Swee Yen, Senior Counsel and Partner, Mr Joel Quek, Partner, Ms Magdalene Ong, Partner, Ms Divya Harchandani, Foreign Lawyer, and Ms Thea Elyssa Vega, Foreign Lawyer, all from WongPartnership LLP, Singapore. The seventh edition of the SIAC Rules took effect on 1 January 2025 and can be accessed here. This note addresses how to initiate arbitration under the Arbitration Rules of the Singapore International Arbitration Centre (SIAC) (7th edition) 2025 (the 2025 SIAC Rules). Please note that Singapore judgments mentioned in this Practice Note are not reported by LexisNexis® UK. Prior to commencing an arbitration Before beginning an arbitration, there must be a ‘dispute’ that is capable of referral to arbitration. At the outset, assess whether an arbitration agreement exists and whether there is a ‘dispute’ that may properly be referred to arbitration. Consider as well any additional jurisdictional objections a respondent might advance. The following matters should be reviewed prior to starting any arbitration (among others):...

This Practice Note addresses the regulated activity of managing investments... Definition Managing investments is a regulated activity under article 37 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO). It entails exercising discretion over assets that beneficially belong to another person, where those assets consist of, or include, any investment categorised as a ‘security’, a ‘structured deposit’ or a ‘contractually-based investment’. For further detail on what constitutes a ‘security’, a ‘structured deposit’ or a ‘contractually-based investment’, see Securities, structured deposits or contractually-based investments below)... The exercise of discretion This regulated activity only arises where the investment manager exercises discretion. Where portfolio management is non-discretionary—for example, the manager purchases shares strictly on client instructions, or simply receives and forwards client orders—the work is more likely to fall within another regulated activity, such as ‘dealing in investments, either as principal or agent’ (RAO SI 2001/544, arts 14 and 21) or ‘arranging deals in investments’ (RAO SI 2001/544, art 25)...

Practice Note In this Practice Note, the term ‘bank’ denotes a UK institution authorised under Part 4A of the Financial Services and Markets Act 2000 (FSMA 2000) to undertake the regulated activity of accepting deposits (as defined by FSMA 2000, s 22, read with Schedule 2 and any order under FSMA 2000, s 22), and any mention of ‘bank’ below also covers a resolution company. In the wake of Silicon Valley Bank’s failure, the government consulted on additional reforms and, in May 2025, passed the Bank Resolution (Recapitalisation) Act 2025 (see: LNB News 19/07/2024 30). These changes are not confined to smaller banks and, from 16 July 2025, apply to banks of any size, provided the other entry conditions are met (see Practice Note: Bank resolution reforms under the Bank Resolution (Recapitalisation) Act 2025). Part 1 of the Banking Act 2009 (BA 2009) likewise extends to building societies and investment firms, with modifications specified in BA 2009. Central counterparties, meanwhile, are now subject to their own special resolution regime...

date [ date ] Parties [ name of Seller ] [ of OR incorporated in England and Wales (company registration number [ number ]) with registered office at ] [ address ] [ and whose address for service in England and Wales is [ address ] ] ( Seller ) [ name of Buyer ] [ of OR incorporated in England and Wales (company registration number [ number ]) with registered office at ] [ address ] [ and whose address for service in England and Wales is [ address ] ] ( Buyer ) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with registered office at ] [ address ] [ and whose address for service in England and Wales is [ address ] ] ( Guarantor ) ] 1 Definitions In this Agreement, the terms set out below shall have the meanings given: ...

FORTHCOMING CHANGE : The Renters’ Rights Act 2025 obtained Royal Assent on 27 October 2025. For further guidance on the Act’s effect on residential tenancies in England, please consult Practice Note: Renters' Rights Act 2025—key provisions...

A. Additional documents for all main applicants Evidence of your employment for the previous 12 months is required. This may comprise: payslips bank statements Payslips must be either: printed on the company-headed paper that shows the employer’s name, or printouts of online payslips Your bank statements must display a complete breakdown of your remuneration, covering salary deposits and any commission. Personal bank or building society statements must be either: statements issued on bank stationery ad hoc statements produced on the bank’s letterhead (excluding mini-statements from Automatic Teller Machines (ATMs)), or printouts of electronic statements Every statement must include: your name account number date of the statement the financial institution’s name, contact details and a branch code any transactions over the period The most recent document must be dated no more than 31 days before the application. Some...

Section 213 of the Housing Act 2004 (HA 2004) sets out the obligations on landlords who take a deposit in relation to an assured shorthold tenancy. Every deposit must be handled in line with an authorised scheme (HA 2004, s 213(1)), and the scheme’s initial requirements must be met within a period of 30 days from receipt of the deposit (HA 2004, s 213(3))...

It is not evident from this Q&A whether the initial term of the Assured Shorthold Tenancies (AST) has lapsed, or whether the fresh tenancy agreement amounts to a renewal or an extension. The Q&A indicates that a replacement tenancy has been issued, at an increased rent compared with the original AST, and for another fixed duration period...

This Q&A This Q&A considers how the Housing Act 2004 (HA 2004) applies to assured shorthold tenancies (ASTs) governed by the Housing Act 1988 (HA 1988). In brief, when a landlord takes a deposit for an AST, two actions are required within 30 days of receiving the funds. First, the initial requirements of an authorised tenancy deposit scheme must be satisfied in full (HA 2004, s 213(3)). Secondly, the tenant must be provided with specified prescribed information (HA 2004, s 213(5)(6)). The relevant prescribed information is set out in the Housing (Tenancy Deposits) (Prescribed Information) Order 2007, SI 2007/797. Failure to comply limits the landlord’s entitlement to serve a notice under HA 1988, s 21, and entitles the tenant to apply for an order for the return of the deposit or for its payment into an authorised scheme (HA 2004, s 214(3)), together with a financial award of not less than one, and not more than three, times the deposit’s value (HA 2004, s 214(4))...