Discharge meaning

For further information about the responsibilities of the contractor and the principal contractor, consult: Construction (Design and Management) Regulations 2015, SI 2015/51 (CDM Regs 2015) HSE Guidance on the Construction (Design and Management) Regulations 2015 CONIAC Industry guidance for Contractors CONIAC Industry guidance for Principal Contractors Practice Note: CDM Regulations 2015—the role of the contractor and principal contractor Duties of all contractors A contractor must: confirm, prior to taking on the appointment, that it possesses the necessary skills, knowledge and experience and, where it is an organisation, the organisational capability, to discharge its role in a way that safeguards the health and safety of anyone impacted by the project before starting work, ensure the client is aware of their duties under the CDM Regs 2015 (see Practice Note: CDM Regulations 2015—the role of the client) ...

This Checklist outlines pragmatic measures for senior managers falling under the FCA and PRA’s Senior Managers and Certification Regime (SM&CR), supporting them in meeting their individual regulatory duties and, in turn, mitigating the prospect of enforcement action. What do senior managers need to do initially when commencing their role? Upon starting a new position in a financial institution, senior managers ought to complete a recorded, early review of the risk management framework relevant to their business area, within the first two to three months. For the avoidance of doubt, regardless of the scale of the firm’s compliance or risk function, accountability for regulatory compliance—including the design and performance of the risk management framework—also rests with the senior manager accountable for that part of the business. That review should include setting up meetings with those in the business who best understand how the area was run before the senior manager arrived (ideally including the predecessor), as well as with Compliance, Risk Management, Internal Audit and HR. These steps support...

Under section 279(1) of the Insolvency Act 1986 (IA 1986) A bankrupt is released from bankruptcy automatically at the expiry of one year starting on the date the bankruptcy order is made, pursuant to section 279(1) of the Insolvency Act 1986 (IA 1986). In some circumstances, however, it is preferable to apply to the court for an order suspending that automatic discharge. This concise checklist and timetable addresses applications to suspend automatic discharge from bankruptcy, outlining each stage from preparing the application for issue through to the making of the suspension from discharge order, together with matters to be dealt with after the order is made. The checklist and timetable do not apply to criminal bankruptcies under IA 1986, ss 264 and 280, nor to applications by the official receiver (OR) under the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 10.104(5) following the adjournment of a public examination. Step/action Time (days) Section/rule 1...

In this issue: UK mergers UK private actions UK market investigations EU antitrust EU State aid Daily and weekly news alerts LexTalk®Competition: a Lexis®Nexis community New and updated content Caselex UK mergers The CMA has issued its final positions following reviews of three sets of merger remedies and a single market investigation order: discharge undertakings in lieu of reference from August 2011 linked to Acergy SA’s acquisition of Subsea 7 Inc discharge undertakings in lieu of reference from August 2008 relating to Home Retail Group plc’s purchase of 27 leasehold properties from Focus (DIY) Ltd discharge undertakings dating from February 2002 by Lloyds TSB Group plc concerning its acquisition of Abbey National plc revoke the Energy Market Investigation (ECOES/DES) Order 2016 The CMA determined that, due to changes in circumstances, all of the relevant remedies are no longer suitable and should therefore be released (for the undertakings)...

In this issue: Sustainable finance and ESG weekly round-up Economic Crime and Corporate Transparency Act 2023 Lending Acquisition finance Shipping finance Real estate finance Sustainable finance Debt capital markets Derivatives Regulation for banking lawyers Sanctions Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG weekly round-up For a summary of this week’s Sustainable finance and ESG developments, see Sustainable finance and ESG weekly round-up—14 November 2024. Economic Crime and Corporate Transparency Act 2023 Economic Crime and Corporate Transparency Act 2023 (Commencement No 3) Regulations 2024 (SI 2024/1108): Provisions in ECCTA 2023 on civil recovery of cryptoassets in Scotland took effect on 7 November 2024, and measures introducing the UK-wide offence of failure to prevent fraud will commence on 1 September 2025. See: LNB News 07/11/2024 12. Unique Identifiers (Application of Company Law) Regulations 2024 (SI 2024/Draft): These draft Regulations would widen...

In this issue: Disputes and remedies Enfranchisement and right to manage Repairing obligations and dilapidations LexTalk®Property Disputes: a Lexis®Nexis community Additional Property disputes updates Daily and weekly news alerts Dates for your diary Trackers Latest Q&A Disputes and remedies Application for an injunction to restrain the sale of properties failed (Matthews v Matthews (a protected party, by his deputy Anne Minihane)) In Matthews v Matthews (a protected party, by his deputy Anne Minihane) [2024] EWHC 2182 (Ch), the Chancery Division refused the claimant’s (R’s) bid for an injunction preventing the disposal of the defendant’s (F’s) properties. F, an elderly individual lacking capacity to manage his property and financial affairs, was represented by an interim deputy (M). R and F were second cousins with a long-standing connection through their farming interests. R had also previously served as F’s health and welfare attorney. To discharge F’s liabilities, M was instructed to sell three plots of agricultural...

Scope of this Practice Note This Practice Note addresses matters linked to technology used to help firms comply with their regulatory duties—often referred to as ‘regtech’. It reviews how the Financial Conduct Authority (FCA) and the Bank of England (BoE) (including the Prudential Regulation Authority (PRA)) engage with regtech, highlights industry activity, and records both the proposal and subsequent withdrawal of an FCA ‘Robo Handbook’. It examines these facets of what has come to be known as ‘regtech’: what is regtech? the FCA’s approach FCA TechSprints digital sandbox other regulator-side developments towards a Robo Handbook industry-side developments other initiatives What is regtech? Regtech is a broad label for the use of technology to help firms discharge regulatory requirements more efficiently and effectively than legacy systems allow—and, at times, for the use of technology by regulators to support their own supervisory responsibilities. The expression is used either in contrast to, or as a subset of, fintech....

Water pollution Polluted water can kill fish and other aquatic life, harm habitats, threaten drinking supplies, lower water quality and foul beaches. Many kinds of contaminant can enter waters—chemicals, microplastics, petrol, oils and fats, ammonia in sewage, mine waste, nitrates from farming and solid waste. Definitions of water ‘Controlled waters’ Relevant territorial waters (seawater to three nautical miles) Coastal waters (eg tidal waters) Inland freshwaters (rivers, streams, watercourses, lakes and ponds) Groundwaters (water stored in rock layers beneath soil) Section 104 of the Water Resources Act 1991 (WRA 1991) ‘Surface water’ Inland waters (all standing or flowing surface water, except groundwater) Transitional waters (partly saline estuaries substantially influenced by freshwater flows) Coastal waters (water up to one mile seaward) The Water Environment (Water Framework Directive) (England and Wales) Regulations 2017, SI 2017/407, Sch 1 ‘Groundwater’ — all water below the ground surface...

Consent or agreement To discharge liquid effluent from trade or industrial premises, a consent, or an agreement, must be in place with a local water and sewerage undertaker for release into: a public sewer a private sewer that subsequently connects to a public sewer For information on water companies and water supply/sewerage licensees, see: Ofwat: Licences and licensees. To seek trade effluent consent, a Trade Effluent Notice must be submitted to the sewerage undertaker. Where an application is unsuccessful, the water company will set out the reasons for refusal in writing. There is a right of appeal to Ofwat under section 122 of the Water Industry Act 1991 (WIA 1991). In particular circumstances, the Environment Agency (or Natural Resources Wales in Wales) may impose additional conditions on a consent, due to the substances present in the discharge or the processes that give rise to it. Agricultural holdings, horticulture business, fish farms, and premises used for scientific or experimental purposes are...

This Deed is made on [ insert day and month ] 20[ insert year ] Parties [ Insert name of Chargor ], being a company incorporated in England and Wales, with registered number [ insert company number ], and whose registered office is at [ insert address ] (the “ Chargor ”); and 1 [ Insert name of Security Agent ], acting as security agent and trustee for the Finance Parties pursuant to the terms and conditions set out in the [ Facilities Agreement OR Intercreditor Agreement OR Security Trust Deed ] (the “ Security Agent ”). Recitals: (A) The Finance Parties have consented to provide loan facilities subject to the terms and conditions set out in the Facilities Agreement (as defined below). (B) As a condition precedent to the loan facilities becoming available, the Chargor must execute this Deed for the purpose of granting security in favour of the Security Agent in relation to the Secured Obligations (as defined below)...

At the Family Court held at [ Court name ] Case No: [ Case number ] Non-Molestation Order The Family Law Act 1996 Full name(s) of the child(ren)Boy or girlDate(s) of birth [ Insert ] [ Insert ] [ Insert ] [ Insert ] [ Insert ] [ Insert ] Before [ name of judge ], in private, on [ date ] at a [ type of hearing ] Important notice to the respondent, [ RESPONDENT NAME ] of [ RESPONDENT address ] You are required to comply with this order. Please read it thoroughly. If any part is unclear, seek advice from a solicitor, a Legal Advice Centre or the Citizens Advice Bureau. You have the right to ask the court to vary or discharge this order. Warning: without reasonable excuse, doing anything this order prohibits amounts to a criminal offence; on conviction you may be liable to imprisonment for a...

[ Insert in para 8.2 of claim form ET1: ] I serve as a [ magistrate ] and, to discharge my responsibilities, require [ 20 ] days away from work each year. From [ insert date ], the Respondent has permitted only [ 15 ] days’ absence to carry out these functions [ plus an additional [ 5 ] days relating to my role as a governor of a maintained school ]. On [ insert date ] I requested further leave on [ insert date ] to undertake my magistracy, yet the Respondent declined the request without reasonable grounds. Those extra absences would not have detrimentally impacted the Respondent’s business operations. My claim is for: a declaration that my claim is well-founded; compensation. ...

The court holds comprehensive jurisdiction to sanction or decline a financial remedy consent order embodying the parties’ bargain (see section 33A of the Matrimonial Causes Act 1973 (MCA 1973) and the Family Procedure Rules 2010 (FPR 2010), SI 2010/2955, 9.26). Yet the court is neither ‘a rubber stamp’ nor a ‘bloodhound’ or ‘forensic ferret’ (see Pounds v Pounds and L v L). Its jurisdiction cannot be excluded. The court undertakes an autonomous and independent evaluation to enable it to discharge and fulfil its statutory duties by reference to the relevant factors set out in the MCA 1973, s 25...

This is a ‘new’ lease under the Landlord and Tenant (Covenants) Act 1995 (LT(C)A 1995) Accordingly, it is presumed that the former tenant remains liable for arrears pursuant to an authorised guarantee agreement (AGA) (in relation to which, see Practice Note: Lease covenants—liability after assignment of a lease or its reversion), and that liability is subject to the provisions of LT(C)A 1995, s 17 (which has been confirmed as not relevant to this Q&A; if required, see Practice Note: Former tenants, guarantors and overriding leases). Upon discharge, the bankrupt is released from all bankruptcy debts under section 281 of the Insolvency Act 1986 (IA 1986)...

Retention Retention describes the portion of interim payments the employer withholds as security for the contractor’s future performance of its duties and to encourage the contractor to discharge those duties in full and properly. For further details, consult the Practice Note: Retention of payment in construction contracts. When retention is to be released to the contractor depends on the particular contract terms for the project. Typically, half of the retained sum is paid out at practical completion, with the balance thereafter following completion of any remedial works for defects reported within the defects liability period. Consequently, if these milestones are reached before the final certificate is issued, the contractor may have a right to seek payment of some or all of the retention...