Five-way meeting meaning

Where it is proposed to wind up a solvent company voluntarily When a solvent company is to be wound up voluntarily, the directors may, at a board meeting, make a statutory declaration of solvency confirming that, after a full enquiry into the company’s affairs, they hold the view the company can pay all its debts in full, together with interest at the official rate, within no more than 12 months from the commencement of the winding-up. See Practice Notes: What is a members’ voluntary liquidation and when is it typically used? MVL—the information and documents to be provided to the liquidator by the company It should be noted that if the directors make such a statutory declaration, the company proceeds by way of a members’ voluntary liquidation (MVL). Where no declaration is made, the company instead enters a creditors’ voluntary liquidation. See Practice Notes: Placing a company into MVL What is a statutory declaration of solvency...

Procedure—Schedule 1 to the Children Act 1989 Unless an application seeks only periodical payments (ie no capital orders at all), an application under Schedule 1 to the Children Act 1989 (ChA 1989) will proceed in accordance with the standard procedure. In the same way, where a party applies to vary an existing order, the fast-track route is available only where the variation concerns a periodical payments order and no form of capitalisation is requested. See Practice Note: Fast-track (shortened) financial remedy procedure. An application under ChA 1989, Sch 1 is issued in the Family Court and is allocated to a district judge. See Practice Notes: Procedure—Schedule 1 to the Children Act 1989 and Issuing financial proceedings in Form A (standard procedure). This Procedural Guide is primarily focused on applications proceeding under the standard procedure. The pre-action protocol and the overriding objective contained in the Family Procedure Rules 2010 (FPR 2010) apply to applications under ChA 1989, Sch 1—see Practice Note: Financial proceedings—pre-application requirements—Pre-application protocol (FPR 2010, PD...

This checklist sets out the requirements for the content of schemes’ annual reports and accounts under the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013, SI 2013/2734. For fuller guidance on the duty on occupational pension schemes to produce annual reports and accounts, see Practice Note: Pension scheme annual reports and accounts. Requirement to prepare and disclose a pension scheme annual report Trustees of an occupational pension scheme meeting the conditions in the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013, SI 2013/2734, Sch 1, Para 1 must produce an annual report no later than seven months following the close of each scheme year. For further details, see: Disclosure requirements for occupational and personal pension schemes—the 2013 disclosure regulations—Scope of the 2013 Disclosure Regulations. The annual report must be provided to any relevant person (that is, a member, prospective member, their spouse or civil partner, a beneficiary or a recognised trade union) who: requests the document within five years...

AMR represents a mounting global public health threat, with some analyses attributing up to five million deaths each year. It is therefore unequivocally a core ESG priority for life sciences. In a year poised to be pivotal for coordinated action—underscored by its profile at the UN High Level Meeting in September 2023—the government has set out firm pledges. It has released the Second 5 year AMR National Action Plan for 2024–2029 (the Action Plan) (see: LNB News 08/05/2024 25), designed to advance the UK’s 20 year vision to contain AMR by 2040 and acting as a key strand of the UK’s recently revised Biosecurity Strategy. The Action Plan frames commitments across four pillars: cutting the need for, and unintended exposure to, antimicrobials; optimising antimicrobial use; driving innovation, and ensuring supply and access; acting as a responsible global partner. We highlight below ESG developments pertinent to life sciences. Market failures The Action Plan prioritises boosting R&D and remedying entrenched market...

Note: the CPRC has ceased distributing the supporting background papers alongside the minutes; accordingly, this News Analysis does not include documents elucidating the topics considered. A copy of the minutes can be found here: Minutes of the Civil Procedure Rule Committee. Welcome, action log and matters arising (item 1) The minutes of the 5 July meeting were formally approved and the action log was noted—see News Analysis: Minutes of the CPR Committee meeting—5 July 2024. The following items were considered: Ryan Morris v Williams & Co Solicitors [2024] EWCA Civ 376—the matter had previously been covered under item 4 in the Minutes of the CPR Committee meeting—held 5 July 2024...

Mergers CMA adopts new phase 2 investigation process; publishes updated merger guidance and merger notice forms The CMA has released the final updated version of its guidance on jurisdictional and procedural mergers (CMA2), following a consultation in November 2023. The revisions chiefly concern the way the CMA will run its phase 2 merger investigations. The principal changes are: There will be chances for merging parties to engage directly with the CMA at an early stage. The issues statement will be dropped; instead, the CMA will request submissions on the phase 1 decision. Typically, there will be teach-in sessions and a new initial substantive meeting. In addition, there will be more use of update calls throughout the investigation, alongside broader opportunities for economic experts to interact with the CMA’s experts. An interim report will be issued earlier in the timetable, replacing the provisional findings report and setting out the CMA’s provisional assessment of the merger’s effects on competition...

The resolution to wind-up A company can move into voluntary liquidation only if one of the following applies: its fixed duration has ended, or an event specified in its articles as triggering liquidation has occurred, and the company has approved an ordinary resolution to wind up; or it passes a special resolution to be wound up voluntarily. See: 97 Notice of meeting to pass ordinary or special resolution to wind up: Encyclopaedia of Forms and Precedents [1441] 103 Special resolution to wind up and appoint liquidator: Encyclopaedia of Forms and Precedents [1452] The former practice of proceeding by extraordinary resolution is no longer available under the Companies Act 2006. Where the directors make a declaration of solvency under section 89 of the Insolvency Act 1986 (IA 1986), the company may proceed by way of a members’ voluntary liquidation (MVL). For further information, see Practice Note: What is a members’ voluntary liquidation and when is...

The Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 introduced an updated framework for decision-making across all insolvency procedures from 6 April 2017. The detailed rules governing decision-making are contained in IR 2016, SI 2016/1024, Pt 15. The prescribed decision procedures There are five decision procedures through which a trustee in bankruptcy (trustee) may obtain a decision from a bankrupt’s creditors under section 379ZA of the Insolvency Act 1986 (IA 1986), namely: correspondence electronic voting virtual meeting physical meeting any other decision-making procedure which enables equal participation by all creditors Seeking a decision without a meeting Correspondence If a decision is sought by correspondence, creditors will only be able to accept or reject the proposal. Electronic voting This mirrors correspondence in that creditors will only be able to accept or reject the proposed decision. Where electronic voting is to be used: the notice delivered to creditors must include any...

Although structured coaching sessions away from the workstation are highly worthwhile for all involved, managers can also weave coaching into everyday tasks. Nurturing a coaching mindset and meeting each scenario with a coach’s perspective can swiftly elevate skills across the team. In this Practice Note, we explore: how to cultivate a coaching approach to management the ‘Growth Mindset’—what it means and how to foster it goal-setting—from five-minute to five-year plans integrating coaching into your day establishing coaching boundaries what to do when coaching goes off track five essential tips for coaching For more on coaching, see Practice Notes: An introduction to coaching, Coaching for coachees, and Popular coaching models and methodologies. How to develop a coaching approach to management For managers or supervisors, leading with a coaching lens can transform how you guide your team...

This Precedent includes a PowerPoint team brand workshop template with accompanying notes to help you run a session with your team to identify the key activities and values you want your business to be recognised for. It guides you and the group through sharing and refining ideas, then moves into setting concrete actions and clear next steps. 1 Meeting logistics Let the team know in advance that this will be a working session and ask them to consider how they add value to the business, arriving prepared to share their views. Have to hand paper, one pack of sticky notes per person, marker pens for everyone, and a space in the room where items can be put up on the wall. Plan for two and a half hours, including a 15-minute comfort break halfway through (based on five to ten attendees). Appoint someone in the team to help with timekeeping and to compile a list of actions, owners and timescales to capture at the end of the meeting....

Software escrow Escrow is the arrangement by which two or more parties lodge property or instruments with a dependable third party (an ‘escrow agent’). The escrowed materials are passed to one party once a pre-agreed release condition or trigger occurs, such as that party meeting its obligations or another party failing to meet theirs. Software escrow is a widely used way to protect both software licensors and licensees. Licensors are often unwilling to part with source code and commercially sensitive details about the design of their software. Yet a licensee may feel exposed to the risk of being unable to maintain or support the software if, for example, the licensor becomes insolvent or defaults on its obligations. Depositing those materials with an independent third party in...

Agenda item Supporting documentation (to be shared before or after the meeting) Comment or action 1. Purpose of the meeting and objectives Outline what you seek to achieve from the meeting and the rationale, for example: confirm legal resource aligns with the organisation’s needs explore outsourcing parts of the legal function or lowering spend on external legal support review the track record of engaging external legal advisers (who, costs, quality, etc.) clarify the future types and volumes of legal support the organisation will need [ Add your initials ] 2. Strategy and projects Questions to raise: what alterations have been made to the procurement department during the past five years? which legal advisers acted for the organisation on those changes, who appointed them, why they were selected, who managed them, and what they advised on (e.g. contractual issues, purchase orders, terms and conditions, sourcing strategy, etc.)? is any change or...

LPA’s obligations when imposing financial contributions Developers are frequently obliged to make monetary payments to the local planning authority (LPA) to fund defined projects, helping to offset the harmful effects of a scheme and thereby enable the grant of planning permission. This Q&A addresses circumstances where the section 106 agreement contains no specific express clawback mechanism. When a planning obligation (a section 106 obligation) is proposed to secure a financial contribution at the determination stage of a planning application, that contribution must satisfy the stringent legal tests in regulation 122 of the Community Infrastructure Levy Regulations 2010, SI 2010/948 (SI 2010/948, reg 122) (as amended). Only by meeting those tests can any such payment lawfully and ultimately underpin the grant of planning permission...

Worker categories For leave years commencing before 1 April 2024 there was only one worker category for holiday entitlement and pay purposes, which we describe as ‘regular’ workers. For leave years beginning on or after 1 April 2024, a new way of working out holiday entitlement and pay was introduced, but it applies only to individuals who fall within the newly established ‘part-year’ or ‘irregular hours’ categories. For anyone who does not sit within those categories, the previous method of calculating holiday entitlement and pay continues to apply. For fuller detail on what counts as a part-year worker under the Working Time Regulations 1998 (WTR 1998), SI 1998/1833, regs 2(1) and 15F(1)(b), refer to the ‘Part-year worker’ section of Practice Note: Statutory paid holiday—irregular hours workers and part-year workers. See also the government guidance: Holiday pay and entitlement reforms from 1 January 2024. In light of the question asked, the text below proceeds on the basis that the worker is within the ‘regular’ worker category rather than meeting the...