Executive arrangements meaning

In its press release, TPR urged trustees of smaller DC pension schemes with assets below £100m to assess if members’ interests are better served within larger schemes. Driving consolidation remains central to TPR’s three-year corporate plan, launched in May 2024. The regulator argues that smaller arrangements are more likely to exhibit weaker governance. “All savers deserve to be in schemes with strong governance,” said Gaucho Rasmussen, TPR’s executive director of regulatory compliance. “Where trustees cannot match the best in the market, on value or governance, they should consider whether moving to a better-value scheme is best for their savers.” Trustees were encouraged to prioritise value and governance when deciding...

In this issue: Save As You Earn Corporate governance Useful information Dates for your diary Weekly highlights from other practice areas Save As You Earn HMRC updates guidance on SAYE savings arrangements and deductions from pay HMRC has revised its guidance at ETASSUM34120 to confirm that employees cannot use third‑party loans or other finance to boost the amounts saved under an SAYE scheme. The scheme must instead be operated in line with the SAYE prospectus, which specifies that contributions are made via deductions from pay. This further clarification appears to respond to market products where participants receive an immediate refund of monthly contributions from a third party funder, in exchange for an arrangement fee and a share of any profit ultimately realised when the SAYE option is exercised and the shares are sold. For more detail on the requirements applying to SAYE‑linked savings contracts, see Practice Note: How SAYE schemes work and key features. See: ETASSUM34120...

Original news Mr K (CAS-44560-Q1C8)—12 September 2025 Summary The Pensions Ombudsman upheld a complaint concerning a scheme’s inadequate due diligence on a high-risk investment. The professional trustee was found to have breached both common law and statutory duties by committing funds to storage pods and airport parking. As the investments lacked diversification and were overly speculative, no reasonable trustee would have proceeded. The determination underscores that a professional trustee can be accountable for investment losses even where the member was heavily engaged in making the decision... What were the facts? Mr K was a member of the Blick-Horsham Limited Executive Pension Scheme (the Scheme), a small self-administered scheme (SSAS). The Scheme’s trustees were Rowanmoor Trustees Limited (RTL) and Mr K. He proposed investing in storage pods and airport parking via Store First Limited (Store) and Park First Limited (Park). In February 2015, RTL warned Mr K that the proposed investments featured a two-year break clause and advised him to consider how a replacement tenant might be...

The Control of Major Accident Hazards Regulations 2015 (COMAH 2015), SI 2015/483, seeks to avert major workplace accidents and establish controls so that, if an incident does occur, the consequences for people and the environment are limited. COMAH 2015 operates by defining core duties for all obligated sites/businesses and also sets a tiered regime, imposing tighter controls on businesses handling dangerous substances above stated thresholds. The Health and Safety Executive (HSE) issues guidance on applying the COMAH regime, and operators are urged to follow it, and to review and update, where necessary, risk assessments and emergency arrangements under COMAH. This supports ongoing compliance and risk reduction. Legislative framework COMAH 2015 received Royal Assent in March 2015 and came into force on 1 June 2015. COMAH 2015 implemented the requirements of Directive 2012/18/EU of the European Parliament and of the Council of 4 July 2012 on the control of major accident hazards involving dangerous substances, amending and subsequently repealing Directive 96/82/EC (Seveso III), which was published in July...

Practice Note This Practice Note consists of two strands created to help dispute resolution practitioners remain up to date with developments in case law that affect their field, or which influence civil litigation procedure more generally: selected forthcoming appeals to the Supreme Court are highlighted below; see Key forthcoming appeals to the Supreme Court—2022 summaries of significant appeal decisions in England and Wales (ie rulings of the Court of Appeal and Supreme Court and, where appropriate, certain judgments of the Competition Appeal Tribunal, Judicial Committee of the Privy Council, Court of Justice of the European Union), and ECtHR, which we have covered; see: Key forthcoming appeal cases—2022 You can navigate this content using the table of contents in the left-hand margin. Alternatively, search this tracker using [CTRL]+[F]. This material is not intended to be a comprehensive register of every appeal or major decision relevant to dispute resolution practitioners. Key forthcoming appeals to the Supreme Court—2022 Tort and negligence ...

ARCHIVED: This Practice Note is archived and no longer maintained. It outlines the legal consequences for Scotland arising from the UK’s departure from the EU. Notably, these implications stem from the United Kingdom’s devolution arrangements, which allocate legislative and executive authority to the Scottish Parliament and the Scottish Government under the Scotland Act 1998 (SA 1998), subsequently and progressively expanded—principally to increase legislative and taxation powers—by the Scotland Act 2012 (SA 2012) and the Scotland Act 2016 (SA 2016) (collectively, the Scotland Acts). For additional guidance on Brexit, see: Scotland collection. Scotland's constitutional arrangements The starting point remains that Scotland’s status within what is now the United Kingdom of Great Britain and Northern Ireland finds its constitutional basis in the Act of Union between Scotland and England. Although devolution has re-ordered aspects of internal governance, the UK’s character as a single and continuing sovereign State is unaffected by the enactment of the Scotland Acts and endures unchanged. The Scotland Acts confer a wide range of legislative competences upon...

[ Insert name and address of employee ] Dear [ enter name ] Draft service agreement I am sending a service agreement for your consideration and review, prepared by [ your employer OR your employer’s solicitors ]. [ You will notice that there are sections in square brackets where I will need your direction. ] When you have had time to read the draft in full, please contact me at your convenience so we can talk through any further changes to recommend to your employer. This sort of contract is generally designed for a more senior employee on a conventional working pattern and structure. If you will be working irregular hours or have (or wish to have) any flexible arrangements, do please tell me, as the agreement will require adjustment to reflect this. I set out below some specific key points on certain clauses in the draft [ and have flagged some of the more important points on which you may wish to negotiate variations ]. [...

Part [ I ] Letter from the chair of [ offerEE ] (a company incorporated in [ England and Wales ] under registration number [ insert number ]) Registered office: [ insert address ] Directors: [ List names of directors and positions, for example, Chair, Chief Executive, Chief Financial Officer, Non-Executive Director ] [ insert date ] To: [ Offeree ] Shareholders and, for information only, persons with information rights [ , OR and ] participants in the [ Offeree ] Share Option Schemes [ and [ Offeree ] Warrantholders ] Dear Shareholder Recommended Cash Offer for [ Offeree ] by [ Offeror ] 1 Introduction Following discussions between them, on [ insert date ] the boards of [ Offeror ] and [ Offeree ] confirmed they had agreed the terms of a recommended cash offer for the whole of the issued and to be issued ordinary share capital of [ Offeree ] [ not already owned by the Offeror ]...

Project [ insert project name ]For the attention of [ Insert addressee name ][ Insert date of report ] INDEX Report A. Introduction B. Executive summary C. Detailed report Corporate form and structure Operations and trading relationships Intellectual property Information technology Data protection Banking and funding Staff Pensions Real property Litigation and disputes Insurance Regulatory and compliance Taxation D. Scope and constraints E. Definitions Schedules Engagement letter List of documents reviewed Due diligence questionnaire and replies Corporate and structural matters Summaries of key contracts Summaries of principal IPR Summaries of key staff Freehold and leasehold properties Pensions Aged debtor ...