Funding target meaning

A: Before you begin Before pursuing a merger, you and your law firm must hold a clear and candid view of your starting point—the firm’s current position, your strategic aims, and the capability to realise those aims. For further guidance, see Practice Note: Mergers—law firms. All principals should fully understand the: economics of your business, including sustainable profitability and cash flow funding requirements of the business risk and compliance framework and its track record Without such clarity, expectations may diverge and valuable time can be lost. This Checklist sets out the key issues to consider. It does not cover regulatory requirements, due diligence, warranties, deal structure and similar matters, which remain critical but will vary with the specifics of the transaction. The areas addressed here are those that, if tackled thoroughly, should give any law firm merger a significantly better chance of success...

In this issue: Air emissions and climate change Contamination and pollution Energy efficiency and buildings Energy for environmental lawyers Environmental information Environmental taxes, reliefs and incentives ESG and sustainability Hazardous substances and chemicals Nature, biodiversity and habitat conservation Waste Water, flooding and drainage Daily and weekly news alerts New and updated content Air emissions and climate change Greenhouse Gas Removals (GGR)-UK government publishes Business Model documentation On 27 August 2025, the Department for Energy Security and Net Zero (DESNZ) released a suite of papers on its proposed Greenhouse Gas Removals (GGR) Business Model and accompanying policy. The Lexis+ Energy team, working with Navraj Singh Ghaleigh, Senior Lecturer in Climate Law at the University of Edinburgh Law School, set out the context for the GGR Business Model; its relationship with the Power BECCS Business Model; the technologies the GGR framework intends to encompass; its legal footing and principal features; and how...

In this issue: COP29 Air emissions and climate change Energy efficiency and buildings Energy efficiency of products Energy for environmental lawyers Environmental taxes, reliefs and incentives ESG and sustainability Nature, biodiversity and habitat conservation Waste Water, flooding and drainage Daily and weekly news alerts New and updated content Trackers New Q&As COP29 Looking ahead to COP29 The 2024 United Nations Climate Change Conference—COP29—will take place in Baku, Azerbaijan, from 11 to 29 November 2024. Paul Collins, a senior associate at Ashfords LLP, shares insight on the conference’s objectives and anticipated outcomes. See News Analysis: Looking ahead to COP29. UK government announces new climate change goals at COP29 At COP29 in Baku, the UK government set fresh climate objectives, pledging an 81% cut in emissions by 2035 against 1990 baselines. In line with the Climate Change Committee’s advice and the UK’s sixth carbon budget, this will constitute the...

Fund managers and advisers linked to the Local Government Pension Scheme (LGPS) warned that hurried changes could depress investment outcomes, leaving local taxpayers to carry the cost. The government has proposed sweeping reforms to the £400bn LGPS, which is currently split across 86 smaller funds ranging from £300m to £30bn. The plan is to combine these holdings into several much larger megafunds, providing the scale to commit more capital to infrastructure projects. Crucially, the Treasury will set a 5% target for every LGPS administering authority to invest in the local economy...

Scope of this Practice Note This Practice Note examines the UK regulatory considerations encountered by crowdfunding platforms from a financial services standpoint. It ought to be read in conjunction with the Financial Services and Markets Act 2000 (FSMA 2000), together with relevant secondary legislation, and regulatory rules and guidance, including, in particular, provisions within the Financial Conduct Authority (FCA) Handbook and the FCA’s webpage devoted to crowdfunding. This Note briefly outlines initiatives at EU level in relation to regulating crowdfunding, which are discussed in detail in Practice Note EU Regulation of crowdfunding—the ECSP Regulation and the MiFID II Crowdfunding Directive. Crowdfunding (sometimes referred to as 'crowd sourcing' or 'crowd financing') operates on the basis that individuals seeking capital, such as entrepreneurs, present ventures or businesses on an online platform, and members of the public contribute funds through that platform. There is no ceiling on an individual contribution; however, unlike more established fundraising methods, many platforms enable participants to put in as little as £10. Typically, the entrepreneur will be...

Rights of way strategy formulation In 1987, the Countryside Commission formally set a national objective for Rights of Way. The intention behind this target was that, by 2000, every right of way would be legally defined, suitably maintained, and clearly publicised. Subsequent surveys in 1988 indicated that the likelihood of completing a two‑mile walk was no better than one in three. Although the national aim was widely supported, it rapidly became apparent that a government‑sponsored strategic framework, preferably tied to funding mechanisms, was necessary to be put in place. In response, the Countryside Commission introduced the ‘Milestones Approach’ and required authorities to adopt it if they wished to draw on available grant‑aid funding schemes. Under this approach, authorities had to prepare a strategy document (a ‘Milestones Statement’) setting out a clear sequence of milestones (benchmarks) for achieving each of the national target areas: ‘legally defined’, ‘properly maintained’, and ‘well publicised’. This strategic model, coupled with funding opportunities, brought a marked increase in resources for rights of way management, with...

ARCHIVED: This Practice Note has been archived and is not maintained. What is the ECO? The ECO is an energy efficiency obligation requiring major energy suppliers to deliver improvements in existing domestic properties. It provides support and funding of around £640m each year (at 2017 prices). Working alongside the domestic green deal, it concentrates on installing energy efficiency measures in low income households and areas, as well as homes that are harder to treat. The ECO superseded earlier domestic schemes aimed at cutting carbon and achieving energy savings—the Carbon Emissions Reduction Target and the Community Energy Saving Programme. Relieving fuel poverty and contributing to fuel poverty targets Lowering carbon emissions Reducing the cost of meeting the UK’s renewable energy target by promoting energy efficiency Encouraging innovation within the industry The legislative basis for the ECO comes from Chapter 4 of the Energy Act 2011, which empowers the Secretary of State to set targets for reductions in carbon emissions and...

Auction sale timetable—private M&A Sale of [ insert name of company or business ]: Timetable Seller preparations (IM – [ insert number ] days): appoint corporate finance and professional advisers; carry out vendor due diligence; identify and contact potential bidders; prepare the information memorandum and marketing presentation; verify disclosures if required; procure signed confidentiality agreements (Seller/Seller solicitors/Seller corporate finance advisers/Potential bidders/Potential bidders’ solicitors). First round (IM and IM + [ insert number ] days): issue the first round process letter with the IM; receive indicative offers outlining price, structure, funding, conditions and regulatory matters (Seller/Seller corporate finance advisers/Potential bidders/Potential bidders’ solicitors). Second round (IM + [ insert number ] days): shortlist bidders; circulate second round letter, draft sale and purchase agreement and vendor due diligence; open the data room; buyers conduct diligence; arrange management meetings and site visits; submit revised offers with SPA mark-up by deadline (Seller/Seller solicitors/Second round bidders/Second round bidders’ solicitors/Target management). Third round (preferred bidder stage) (IM + [ insert number...

This precedent is produced on the assumption that the drafter acts for the buyer and on the footing that the target company (the Company) is a subsidiary of the Seller. You are strongly encouraged to engage a pensions specialist at the earliest opportunity. 1 Definitions For the purposes of paragraphs 2 to 9 (inclusive): Employee means any current or former employee, officer or director of the Company [ or of any Group Company ] [ and any other person involved in managing the affairs of the Company ]; Pension Scheme[s] means [ [ name(s) of scheme(s) ] OR an arrangement or practice for the payment of, or contribution towards, an annuity, pension, lump sum, gratuity or similar benefit to be provided on retirement, ill-health, death or change in service status, or pursuant to a pension sharing order, in relation to the service or historic service of an Employee or any other person, or for the benefit of that individual’s dependants ]. ...