Distribution expenses meaning

Insurance & Reinsurance weekly highlights—18 January 2024 In this issue: Ukraine conflict Coronavirus (COVID-19) Cases and decisions Types of insurance Market practice Regulation Solvency II New and updated content Case trackers Key dates Daily and weekly news alerts LexTalk®Insurance: a Lexis®Nexis community Ukraine conflict This week, Scottish practice Brodies LLP confirmed it had supported Ukraine’s Export Credit Agency on an innovative war risks insurance mechanism, extending protection to shipowners and charterers and enabling the nation to move cargo across the Black Sea amid ongoing hostilities with Russia. See News Analysis: Brodies steers war risk insurance for Ukrainian exports. The conflict in Ukraine has profoundly reshaped the aviation insurance sector. Claims on aviation policies have become a central battleground as lessors try to recoup losses for aircraft left in Russia (typically still held and operated by Russian carriers). Consequently, a wave of proceedings has been commenced before the English, US, and Irish...

In this issue: Electricity and gas market regulation and licensing Networks and network connections Renewable energy Oil and gas Air emissions, efficiency, and climate change International energy New and updated content Dates for your diary Trackers Energy law titles Daily and weekly news alerts Electricity and gas market regulation and licensing Ofgem consults on changes to electricity distribution licence to facilitate TMO4+ connections reform Ofgem has opened a statutory consultation on revisions to the Special Conditions of the electricity distribution licence, proposing a new pass-through mechanism to assist DNOs with delivery of the TMO4+ grid connections reforms. The mechanism would enable DNOs to reclaim reasonable expenditure linked to the one-off G2WQ exercise. Its scope would be confined to DNOs’ G2WQ implementation costs and would not extend to expenses for handling fresh applications under the enduring regime (CMP435). Ofgem is also seeking feedback on a connections reform costs governance document, which would specify...

In this issue: Financial sanctions AML, CTF & counter-proliferation financing Other financial crime Data protection Other Practice Compliance updates this week Daily and weekly news alerts Trackers New and updated content Financial sanctions OFSI issues new Legal Services General Licence INT/2024/5334756 The Office of Financial Sanctions Implementation (OFSI) and HM Treasury have introduced a successor Legal Services General Licence INT/2024/5334756, commencing as soon as Legal Services General Licence INT/2024/4671884 ends at 23:59 on 28 October 2024. This licence permits a UK law firm or counsel that has provided legal advice to a person designated under the Russia or Belarus regimes to receive payment from that individual without obtaining an OFSI specific licence, provided the conditions in General Licence INT/2024/5334756 are fulfilled. Notable revisions include raised caps for fees and expenses, a limited allowance for payments into non‑UK bank accounts, and clarified treatment of the applicable caps for in‑house lawyers and for directly instructed counsel....

Film and TV glossary A–B Film and TV glossary E–H Film and TV glossary I–L Film and TV glossary M–P Film and TV glossary R–S Film and TV glossary T–W CAP Code for non-broadcast media The UK Code of Non-broadcast Advertising and Direct & Promotional Marketing (the CAP Code) serves as the principal framework governing non-broadcast adverts, promotional sales activity and direct marketing messages. It is drafted by the Committee on Advertising Practice (CAP), a self-regulatory body whose membership comprises organisations representing advertising, sales promotion, direct marketing and media industries. The Advertising Standards Authority (ASA) polices the CAP Code and may require the withdrawal or amendment of any advertisement that contravenes these standards. Refer to Practice Note: Advertising law and regulation. Channel 4 Channel 4 operates as a ‘publisher-broadcaster’: it produces no programmes internally, commissioning content from production companies across the UK. Cinematograph film Under the Copyright Act 1956 (CA 1956), films gained protection as...

GOVERNMENT CONSULTATION : The government is consulting on proposals to require close companies to give HMRC more granular information about transactions with participators (usually shareholders). In scope are: Cash withdrawals Loans Debts Dividends Other distributions Asset transfers Items already reported via RTI, such as salary, would be excluded. Reported data would set out the recipient, amount, date, and identifying details, potentially including NI numbers. Views are sought on the scope, timing and delivery method (for example via CT600A, the company tax return, or a digital service), whether repayments, releases and write‑offs of loans should be included, and whether existing penalties are adequate or bespoke penalties are needed. The consultation closes on 10 June 2026. Introduction and summary of main rules Without specific rules, a company controlled by a small number of persons could structure its affairs to enable those persons to sidestep income tax. Legislation to counter the avoidance of income tax through companies was first...

This Practice Note: sets out the principal UK tax considerations for a company looking to raise capital through a rights issue, and unless indicated otherwise, proceeds on the basis that: the issuing company is UK incorporated and UK tax resident and, for VAT, is treated as belonging in the UK only new non-redeemable shares are offered as part of the rights issue the shares to be issued are in the same currency as the issuer’s functional currency (ie the currency the company uses to prepare its accounts)—where the functional currency differs from the share currency and certain conditions are satisfied, any profit or loss on a derivative used by the issuer to hedge exchange rate risk is disregarded for corporation tax purposes the underwriters are treated as belonging in the UK for VAT purposes This Practice Note includes references to case law from the EU Court of Justice. For guidance...

This Agreement is entered into on [ date ] Parties [ insert name of party ] [ of OR a company incorporated in [ England and Wales ] with registration number [ insert registered number ], whose registered office is at [ insert address ] ] (the Principal); and [ insert name of party ] [ of OR a company incorporated in [ England and Wales ] with registration number [ insert registered number ], whose registered office is at [ insert address ] ] (the Agent), (each of the Principal and the Agent is a party and, taken together, the Principal and the Agent are the parties). Background The Principal provides the Services (as defined below). The Principal intends to appoint the Agent as its non-exclusive agent within the Territory (as defined below) for the [ marketing OR marketing and sale ] of the Services, on the terms of this Agreement. The Agent has agreed...

This Agreement is entered into on [ date ] Parties [ insert name of party ] [ of OR a company incorporated in [ England and Wales ] under number [ insert registered number ] whose registered office is at ] [ insert address ] (the Principal); and [ insert name of party ] [ of OR a company incorporated in [ England and Wales ] under number [ insert registered number ] whose registered office is at ] [ insert address ] (the Agent). Each of the Principal and the Agent is a party, and together the Principal and the Agent are the parties. Background The Principal [ manufactures OR manufactures and sells ] the Products (as defined below). The Principal intends to appoint the Agent as its exclusive agent in the Territory (as defined below) for the [ marketing OR marketing and sale ] of the Products, on the terms of this Agreement. The...

This Agreement is entered into on [ date ] Parties [ insert name of party ], [ of OR a company incorporated in [ England and Wales ] with company number [ insert registered number ] and having its registered office at [ insert address ] ] (Principal); and [ insert name of party ], [ of OR a company incorporated in [ England and Wales ] with company number [ insert registered number ] and having its registered office at [ insert address ] ] (Agent), (each of the Principal and the Agent is a party and, together, the Principal and the Agent are the parties) Background The Principal provides the Services (as defined below). The Principal intends to appoint the Agent as its exclusive agent within the Territory (as defined below) for the [ marketing OR marketing and sale ] of the Services on the terms of this Agreement. The Agent has agreed to...