Ex-gratia benefit meaning

What is the background to this case? On 6 May 2022, via an ex parte, without-notice application, the NCA secured nine Account Freezing Orders (AFOs) under sections 303Z1 and 303Z3 of the Proceeds of Crime Act 2002 (POCA 2002), each lasting 12 months. Allegations were made that persons and entities connected to Petr Aven—described as a ‘prominent Russian businessman and pro-Kremlin Oligarch’—had effected suspicious payments and/or were retaining monies for his benefit around the time of his designation by the EU on 28 February 2022, and subsequently by the UK on 15 March 2022, following Russia’s invasion of Ukraine on 24 February 2022. Those persons and entities included Ingliston Management Ltd, a UK-registered ‘service company’ owned by Stephen Gater, which has been responsible for the running of Mr Aven’s three UK homes and for meeting the domestic and personal expenses of Mr Aven and his family residing there. It is alleged that the funds for these activities were provided by Mr Aven...

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According to the Department for Energy Security and Net Zero, annual pension payments for around 112,000 former miners will rise by 32%, equating to an average uplift of £29 a week for each claimant. The government has further promised to examine the pension scheme’s surplus-sharing set-up to ensure miners and their families benefit more fairly in the years ahead, with conclusions due in early 2025. Recipients are spread across historic coalfield areas, including Yorkshire and the Humber in the north-east—which represents over 29,000 scheme members—and the East Midlands, which counts roughly 28,850 pension scheme members. Ministers have confirmed the increase covers all who are eligible across the board. ‘Today, thousands of ex-miners and their families receive the pension payments they deserve’, said Ed Miliband, the energy secretary...

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z This glossary provides helpful (re)insurance and underwriting definitions. For focused guidance on reinsurance terminology, see Practice Note: Reinsurance—essentials. A Accident An unforeseen or unintended event or incident that typically results in damage or injury (physical or financial) to the insured or a third party. Accidental damage Unintended or unexpected harm or damage caused to property or a person. Accidental death benefit Some life insurance policies pay an extra amount, over and above the original sum insured, if the insured dies because of an accident. Act of God (force majeure) An occurrence beyond anyone’s control, such as a natural disaster. Active underwriter The person with primary responsibility and authority to accept insurance and reinsurance risks on behalf of the members of a syndicate in the Lloyd’s market. See also Underwriter. Actuary A qualified professional who...

What is a restraint order? A restraint order is a preventive step taken to back up any confiscation order that might be, or has already been, imposed. It is a statutory device, set out in section 40 of the Proceeds of Crime Act 2002 (POCA 2002). Under POCA 2002, s 40 (which provides for restraint orders), an investigator or prosecutor is afforded the pre-emptive power to restrict a person's assets where that person is suspected of, or being investigated for, an acquisitive offence, and even before any arrest on the alleged offence. A restraint order made pursuant to POCA 2002 also operates to freeze both identified and yet-to-be identified property so as to preserve assets regarded as necessary to satisfy a confiscation order following prosecution and conviction (see below: Legislative steer under POCA 2002, s 69). The order expressly bars any specified person from dealing with the property in question, including third parties who hold property in which a suspect or defendant is thought to have an interest...

Charity trustees’ responsibilities—and the resulting potential liabilities—fall into three groups: statutory duties, fiduciary obligations owed to the charity, and common law duties owed to third parties. The Charities Act 2022, which revises the Charities Act 2011 (CA 2011) following the Law Commission Report on various technical matters in charity law, has not yet come fully into force. The main unresolved point relates to ex gratia payments by charities, eg to a deserving yet disappointed beneficiary under a Will that, owing to a technicality, leaves a benefit to a charity. Any enquiry in this area calls for checking the most current legislative position. Statutory duties The CA 2011 sets out a range of specific duties for charity trustees...