Governing body meaning

Purpose of this Checklist This checklist supports Solvency II UK firms in aligning governance, systems and controls with the expectations of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). It should be read alongside Practice Note: Governance, systems and controls requirements for insurers, which provides a more detailed overview of the relevant requirements. Governance and organisational structure Confirm the board holds ultimate accountability for compliance with PRA, FCA and applicable legislative obligations. Establish a robust system of governance, featuring a transparent organisational structure with clearly allocated and segregated responsibilities. Regularly review and update written policies covering risk management, internal control, internal audit and, where relevant, outsourcing. Maintain documented governing body approvals for significant decisions and policy changes. Risk management Implement and embed an effective risk‑management system within decision‑making, ensuring ongoing identification, measurement, monitoring, management and reporting of risks. Incorporate comprehensive strategies, stress testing, scenario analysis and development of the own risk and...

This checklist outlines the main points to address when establishing a limited liability partnership (LLP), covering legal, regulatory and practical considerations. Number and identity of the members How many members will there be, and who are they? Eligibility: a member must not be an undischarged bankrupt, nor disqualified from acting as an LLP member or a company director. Capacity of each member: individual, company, other entity or body. For individuals, provide: full name and any former business name(s) used within the previous 20 years usual residential address (plus any CA 2006, s 243 exemption from disclosure to credit reference agencies as it applies to LLPs) service address (this can be the LLP’s registered office) country or state of residence date of birth For corporations, provide: name (and any firm name) registered or principal office registration number (for a UK company)...

Alrubie v Chelsea Football Club Ltd and another [2025] EWHC 541 (Comm) What are the practical implications of this case? This decision will particularly interest arbitration practitioners and professionals working in sports clubs, and could equally concern other organisations whose members are controlled by association rules. Commonly, those participating in professional sports clubs accept, by reason of their membership, that they are bound by the club’s rulebook and by the regulations of any national and worldwide governing bodies. Such regimes routinely incorporate arbitration agreements, owing in part to the confidentiality of arbitral proceedings, which protects against undesirable public attention, and in part to the ability to appoint arbitrators with specialist knowledge of the sport’s rules and industry practices. The case clarifies that these rules may have ‘horizontal’ contractual effect between members, as well as ‘vertical’ effect between each member and the governing body, notwithstanding the absence of any express bilateral agreement between members. It underlines how membership-based governance can, through the acceptance of rulebooks, generate binding obligations that...

In this issue: Brexit headlines Brexit SIs Post-Brexit transition guidance Constitutional and administrative law Judicial review Equality and human rights Public Procurement Subsidy control and State aid Information law Other Public Law news LexTalk®Public Law: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Brexit headlines The Foreign Affairs Committee urges a White Paper on the UK-EU reset and the publication of the Dynamic Alignment Bill. Its Third Report of Session 2024–26, From a Common Understanding to Common Ground: Building a UK EU Strategic Partnership fit for the future, assesses the government’s approach and progress on reconfiguring UK-EU relations. Aimed at shaping parliamentary scrutiny of the next phase of UK-EU engagement, it lands while discussions with the EU and internal cross-government efforts continue. The Committee concludes that, although the Lancaster House summit in May 2025 created a platform...

In this issue: TPR publishes new general code of practice Investment Pension benefits Daily and weekly news alerts Dates for your diary Trackers TPR publishes new general code of practice The Pensions Regulator (TPR) has now issued the long-awaited general code of practice, bringing together and updating ten of its existing codes into a single code made up of 51 shorter, topic-based modules. TPR says this new layout will help governing bodies to locate its expectations quickly and to confirm whether they are being met. The ten codes included cover reporting breaches of the law, early leavers, late payment of contributions, trustee knowledge and understanding, MNTs/MNDs, internal controls, dispute resolution—reasonable periods, DC governance, and public sector governance. The general code was released alongside TPR’s final response to its 2021 consultation on the general code. Following comments made to the consultation, TPR has made numerous minor changes and, in some instances, remodelled or retired certain modules. For the most...

Governing legislation The process of transferring undertakings is regulated by SI No 131/2003 European Communities (Protection of Employees on Transfer of Undertakings) Regulations 2003 (Ireland) (SI No 131/2003 (IRL)), commonly known as the TUPE Regulations 2003 (IRL). These 2003 Regulations superseded SI No 306/1980 European Communities (Safeguarding of Employees’ Rights on Transfer of Undertakings) Regulations 1980 (Ireland), as later amended by SI No 487/2000 European Communities (Safeguarding of Employees’ Rights on Transfer of Undertakings) (Amendment) Regulations 2000 (Ireland). The earlier regime gave effect to the EU Acquired Rights Directive 77/187/EEC in Ireland. Relevant transfers Numerous European Court of Justice (ECJ) rulings have clarified what amounts to a transfer for the purposes of Directive 77/187/EEC and, in turn, the TUPE Regulations 2003 (IRL). A detailed review of that body of caselaw lies outside this Practice Note and is not attempted here. In essence, a transfer arises where the undertaking keeps its identity after the handover; in other words, where the undertaking is passed on as a going concern,...

A limited liability partnership (LLP) A limited liability partnership (LLP) is a corporate body established under the Limited Liability Partnerships Act 2000 (LLPA 2000). Most rules governing LLPs derive from modified company law rather than partnership law (see Practice Note: The nature of a limited liability partnership and its legal framework). The requirements for incorporation are prescribed in the LLPA 2000 and the Companies Act 2006 (CA 2006), as adapted by the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009, SI 2009/1804 (LLP (Application of CA 2006) Regs 2009). The method for forming an LLP closely mirrors the procedure for company incorporation...

Film and TV glossary A–B Film and TV glossary E–H Film and TV glossary I–L Film and TV glossary M–P Film and TV glossary R–S Film and TV glossary T–W CAP Code for non-broadcast media The UK Code of Non-broadcast Advertising and Direct & Promotional Marketing (the CAP Code) serves as the principal framework governing non-broadcast adverts, promotional sales activity and direct marketing messages. It is drafted by the Committee on Advertising Practice (CAP), a self-regulatory body whose membership comprises organisations representing advertising, sales promotion, direct marketing and media industries. The Advertising Standards Authority (ASA) polices the CAP Code and may require the withdrawal or amendment of any advertisement that contravenes these standards. Refer to Practice Note: Advertising law and regulation. Channel 4 Channel 4 operates as a ‘publisher-broadcaster’: it produces no programmes internally, commissioning content from production companies across the UK. Cinematograph film Under the Copyright Act 1956 (CA 1956), films gained protection as...

1 Definitions and interpretation These Conditions define key terms and set the rules for reading the Contract. Defined expressions include (among others) Acceptance Conditions, Adequate Procedures, Affiliate, Applicable Law, Associated With, BA 2010, Bribery Laws, Business Day, CFA 2017, Conditions, Confidential Information, Contract, Control, ECCTA 2023, Force Majeure, Foreign Tax Evasion Offence, Fraud Offence, Goods, Intellectual Property Rights, IPR Claim, Location, MSA 2015, MSA Offence, Order, Prevention Procedures, Price, Services, Specification, Supplier, Supplier Associated Person, Supplier Personnel, UK Tax Evasion Offence and VAT. References to the Contract include these Conditions, the Order and any schedules, appendices and annexes. Headings are for convenience only and do not affect interpretation. “Party” means the Supplier or the Customer and includes successors and permitted assigns; “person” includes natural and corporate bodies; “company” covers any body corporate. Gender includes all genders; singular includes plural and vice versa. Terms such as “including” and similar are illustrative and not limiting. “Writing” or “written” covers legible, non‑transitory forms. ...

1 Definitions and interpretation In these Conditions, key terms include: Adequate Procedures (as per BA 2010); Affiliate (entities under common Control); Applicable Law (binding laws and guidance across relevant jurisdictions); Associated Person/Associated With (as defined for bribery, tax evasion and fraud by BA 2010, CFA 2017 and ECCTA 2023); Business Day (excluding weekends and bank/public holidays); Conditions (these sale terms); Confidential Information (commercial, technical or other identified confidential material); Contract (the agreement comprising these Conditions and the Order); Control (as specified); Customer and Supplier (the purchasing and supplying parties); Documentation; Force Majeure (events beyond reasonable control); Goods; Intellectual Property Rights and any IPR Claim; Location; MSA 2015; Order; Prevention Procedures; Price; Specification; VAT; and Warranty Period. Interpretation rules: references to the Contract include its schedules and annexes; headings are for convenience; references to a party include successors and permitted assigns; person includes natural and corporate bodies; company covers any body corporate; gender and number include each other; “including” and similar expressions are illustrative only; writing covers legible, non‑transitory...

On [ date ], the parties enter into this Agreement, namely: 1 [ ] of [ ] (the ‘ Administering Authority ’); 2 [ ] of [ ] (the ‘ Scheme Employer ’); 3 [ ] of [ ] (the ‘ Admission Body ’); and 4 [ ] of [ ] (the ‘ Guarantor ’). Background (A) Under the Regulations, the Administering Authority is an administering authority. It runs and upholds the Scheme in line with the Regulations and has delegated authority to make determinations under section 25(5) of the Public Service Pensions Act 2013 regarding employees of admission bodies. (B) The Scheme Employer falls within the definition of a Scheme employer for the purposes of the Regulations. (C) The Admission Body is an admission body as described in [ ] of Schedule 2 to the 2013 Regulations and intends to enter into the Admission Agreement. [ It supplies the [ services ] [ assets ] referenced in the Contract and, in carrying out...

Neither the legislation—Part 4, Schedule 6 of the Education and Inspections Act 2006 (EIA 2006)—nor the guidance—Governance handbook and Schools causing concern—Statutory guidance for local authorities—addresses whether a duty to consult persists where a local authority intends to exercise its EIA 2006, s 65 powers to appoint an Interim Executive Board (IEB) after the entire governing body has stepped down. Warning notice As stated at page 14 of the guidance, a warning notice under Part 4 of the EIA 2006 must be provided in writing to the school’s governing body and must include: the matters on which the local authority’s concerns are based...