Equity release meaning

Estate of [insert name of deceased] Clients: [insert names of executors/administrators] File reference: [insert file ref] The details requested in this questionnaire are needed for the application for a grant of representation. Please complete what you can, and also gather the death certificate together with any documents and passbooks, as asked for within this questionnaire. A Personal details of the deceased Copy death certificate enclosed YES / NO 1 State the courtesy title (Mr, Mrs, etc) and any professional title (eg Dr) 1.1 Provide the deceased’s full name 1.2 Provide any alternative name or names by which they were known 2 Occupation of the deceased 2.1 Was the deceased retired? YES / NO 2.2 National Insurance number 2.3 Unique taxpayer reference; please attach income tax papers 3 A Give the address of the nursing or care home (only if this was the deceased’s last address; otherwise leave blank) 3.1 B Provide the deceased’s usual...

In this issue: Equity capital markets Members Partnerships Daily and weekly news alerts Dates for your diary Trackers Useful information Equity capital markets FCA to publish final PISCES rules and open sandbox applications in June 2025 The Financial Conduct Authority (FCA) has confirmed it will release its definitive rules for Private Intermittent Securities and Capital Exchange Systems (PISCES) in June 2025. At the same time, it will invite applications from prospective platform operators wishing to run a PISCES venue. The regime will be piloted in a sandbox through to June 2030, allowing operators to test different business models for trading shares in private companies. The FCA, together with HM Treasury, will then carefully evaluate the results to decide whether to embed PISCES in lasting legislation or pursue other approaches. See: LNB News 27/05/2025 45. Members Registration of shareholders and the power of directors to bind a company (Jusan Technologies Ltd v Uconinvest Llc [2025]...

In this issue: Accounts and reports Corporate governance Directors' and members' issues Environmental, social and governance issues Equity capital markets Partnerships Tax for corporate lawyers Daily and weekly news alerts Dates for your diary Trackers Useful information Accounts and reports FRC publishes update on company size threshold amendments Responding to the Government’s revisions to UK company size thresholds, which take effect on 6 April 2025, the Financial Reporting Council (FRC) has revised pertinent existing publications. In addition, the FRC has issued a summary paper setting out the amendments to help reporters understand the updated framework. See: LNB News 21/03/2025 16. Corporate governance Home Office updates statutory guidance on modern slavery in supply chains The Home Office has issued a refreshed edition of its statutory guidance on transparency in supply chains under section 54 of the Modern Slavery Act 2015. Titled 'Transparency in supply chains: Statutory guidance', it gives organisations...

In this issue Equity capital markets International Taxes management and litigation Real estate tax Business structures Employment taxes VAT Individuals and income tax Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Equity capital markets FCA overhauls listing rules. The Financial Conduct Authority has released new UK Listing Rules (UKLR), delivering a substantial reset of the UK listing regime and introducing a simpler, more competitive structure. A central feature is a single listing category for commercial companies—replacing the premium and standard categories—within a regime that places greater emphasis on disclosure. The updated UKLR apply from 29 July 2024. For deeper insight into the principal elements of the reforms to the listing regime, see News Analysis: FCA publishes final reforms to listing regime in the new UK Listing Rules sourcebook, and LNB News 11/07/2024... International HMRC publishes new MTT and DTT guidance. HMRC...

Resource Note This Resource Note signposts key commentary, analysis and materials to aid interpretation and offer practical direction on using Chapter 2 of the Disclosure Guidance and Transparency Rules (DTR 2). Where relevant, it draws on: the Financial Conduct Authority (FCA) Handbook FCA Knowledge Base—Procedural and Technical notes (formal guidance binding on the FCA) FCA consultation and discussion papers, policy and feedback statements, and warnings Primary Market Bulletins and other FCA publications legacy UKLA technical and procedural notes and the UKLA’s newsletter List!, where still pertinent assimilated EU legislation EU Directives and EU Regulations, where helpful to construing a provision Lexis+® UK analysis and resources Setting the scene What it covers: DTR 2 prescribes the framework for issuers to disclose and manage inside information, supporting timely and even-handed release of market-sensitive information. It also identifies specific situations permitting a delay to public disclosure of inside information, together with the safeguards required to keep such information...

In recent years, the phenomenon of older clients who are asset-rich but cash-poor has become increasingly common. Typically, their wealth is locked in a home that has climbed markedly in value over time, while income from pensions and savings has stayed largely static, if not fallen in real terms. Unsurprisingly, many wish to convert that fixed, generally unrealisable wealth into cash without having to sell their home. Equity release basics Equity release may offer a solution. Funds released can be taken as a lump sum, regular income, or a blend of both. Options fall into two main types: Lifetime mortgages, where the homeowner raises money by securing a mortgage on the property. The borrowing is repaid only when the homeowner dies or no longer needs the home (eg on moving permanently into residential care). Home reversion plans, where the owner sells a share, or all, of their home to a reversion company but retains the right to continue living there either rent-free or for...

Practice Note This Practice Note sets out the matters that may arise on a private M&A deal (whether implemented as a share acquisition or an asset acquisition) where a counterparty is a company whose shares are listed in the equity shares (commercial companies) category or in the transition listing category on the Financial Conduct Authority’s (FCA) Official List and are admitted to trading on the main market for listed securities (Main Market) or admitted to trading on AIM. It also addresses points common to all public companies, whether exchange-listed or not. In these scenarios, the buyer and/or seller may need to release suitable market announcements containing certain mandated enhanced disclosures. Where the deal amounts to a reverse takeover (see below) and the purchaser is a listed company, the purchaser may have to dispatch an explanatory circular to shareholders and secure their approval for the acquisition at a general meeting (that approval will become a condition to completion and therefore influence the timing of the acquisition). The principal additional procedures...

Company registration number: [ insert number ] [ insert company name ] PLC Minutes of a meeting of the [ committee of the ] board of directors (the Meeting) of [ insert company name ] plc (the Company). Held at [ insert place of meeting ]. On [ insert day, month and year of meeting ] at [ insert time of meeting ] [ am OR pm ]. Present: [ Insert names of the director(s) attending in person ] [ [ Insert names of any directors attending by telephone, as allowed under the Company’s articles of association ] (by telephone) ] [ [ Insert names of any directors attending by other methods permitted by the Company’s articles of association ] (by [ insert other means ]) ] In attendance: [ [ Insert the name of any attendee who does not count towards the quorum for the Meeting (eg the company secretary, any legal advisers) ] ]...

STOP PRESS: A major overhaul of the UK listing framework became effective on 29 July 2024, eliminating the premium and standard listing segments and introducing a single listing category for equity shares issued by commercial companies, replacing the prior segmentation approach across the listing regime. This commercial companies category relies strongly on disclosure and sits alongside other categories, including those for shell companies, secondary listing and closed-ended investment funds. To deliver these reforms, a new UK Listing Rules sourcebook took effect and the former Listing Rules sourcebook was withdrawn. For more detail, see Practice Note: Reform of the UK listing regime—fundamentals. This Precedent represents the position under the listing regime as it stood before 29 July 2024...

Company number: [ insert number ] [ insert company name ] PLC Minutes for the meeting of the [ committee of the ] board of directors (the Meeting) of [ insert company name ] plc (the Company) Venue: [ insert place of meeting ] Date: [ insert day, month and year of meeting ] at [ insert time of meeting ] [ am OR pm ] Present [ Insert names of the director(s) physically present ] [ [ Insert names of any directors present by telephone as permitted by the Company’s articles of association ] (by telephone) ] [ [ Insert names of any directors present by other means permitted by the Company’s articles of association ] (by [ insert other means ]) ] In attendance [ [ Insert name of anyone in attendance, who does not count towards the quorum for the Meeting (eg the company secretary, any legal advisers) ] ] ...