Hold out/holding out meaning

The Investigatory Powers Act 2016 (IPA 2016) reshapes the statutory regime governing covert surveillance conducted by public authorities, a regime largely, but not entirely, previously contained in the Regulation of Investigatory Powers Act 2000 (RIPA 2000). This Checklist carefully sets out those public authorities that hold the power to apply for authorisation to obtain communications data under IPA 2016, Pt 3, preserving the established focus and scope throughout. Authorisations to secure communications data may only be granted where defined conditions are satisfied, by the Investigatory Powers Commissioner under IPA 2016, s 60A, by designated senior officers under IPA 2016, s 61, or by designated senior officers in urgent circumstances under IPA 2016, s 61A. In operational practice, the Office for Communications Data Authorisations carries out this function on the Commissioner’s behalf. The table below specifies which public authorities may apply to access communications data, the kinds of communications data they are permitted to request, together with the purposes for which such data may be obtained, whether...

ARCHIVED : This Practice Note is archived and is no longer maintained. The LEI is a 20-character, alphanumeric identifier created by the International Organisation for Standardisation (ISO). Under Article 5 of Commission Delegated Regulation (EU) 2017/590, a Level 2 instrument under MiFID II, from 3 January 2018 firms carrying out transactions must hold a valid LEI at all times and ensure their LEI is used to identify them in transaction reports. For detail on this obligation, refer to Practice Note: EU MIFID II & MIFIR—Transaction Reporting. The Global LEI System High Level Principles and the FSB’s recommendations were issued in 2012 and received G20 endorsement...

Number and identity of the partners How many partners will there be, and who are they? What is each partner’s status: individual, company, another partnership, or other entity/body? Do all partners possess the requisite qualifications? Will any be salaried or fixed‑share partners? What rights and duties will they hold? Will they sign and be bound by the partnership agreement? Can new partners be brought in; if so, must they sign a deed of adherence? Is unanimous approval required to admit new partners? Business details What activities will the partnership undertake? Is it an ongoing venture or a one‑off project (or projects)? Are any regulatory consents, approvals and licences needed? What will the partnership be called; does the name clash with an existing one? Carry out searches at Companies House and the Trade Marks Registry. Will a domain be needed; check availability and register it. Where will the partnership...

Aim of this flowchart Under section 19 of the Financial Services and Markets Act 2000, anyone who carries on a regulated activity in the UK in the course of business, without an applicable exclusion or exemption, must hold authorisation from the Prudential Regulation Authority (PRA) and/or the Financial Conduct Authority (FCA). This requirement is referred to as the general prohibition. For further detail on the general prohibition and the scope of regulated activities, consult the Practice Notes: The general prohibition and implications of its breach, and What are regulated activities? This flowchart is intended to assist in deciding whether a person is undertaking the regulated activities of effecting and carrying out contracts of insurance as principal, pursuant to article 10(1) and (2) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO). Any references here to PERG are to the FCA’s Perimeter Guidance Manual, which provides regulatory guidance within the FCA Handbook. It serves as a guide to the FCA Handbook...

In this issue: UK mergers UK antitrust UK subsidy control UK competition policy EU antitrust EU mergers EU State aid EU market studies New and updated content Daily and weekly news alerts Caselex UK mergers Government consults on further changes to the draft Enterprise Act 2002 (Mergers Involving Newspaper Enterprises and Foreign Powers) (No 2) Regulations The Department for Culture, Media and Sport (DCMS) has published a consultation on proposed further amendments to the Enterprise Act 2002 (Mergers Involving Newspaper Enterprises and Foreign Powers) Regulations 2025 (the Regulations). Through changes to the Enterprise Act 2002, the Digital Markets, Competition and Consumers Act 2024 introduced a foreign state intervention (FSI) regime for newspapers and periodic news magazines, preventing foreign state ownership, control, or influence over these publications. The Regulations carry forward the government’s decision to provide narrow exemptions to the FSI framework. Under the proposals, defined state-owned investors (SOIs) could hold up to...

Long-trailed changes appended to the Crime and Policing Bill 2025, laid before Parliament by Home Secretary Yvette Cooper on 25 February 2025, aim to broaden corporate criminal liability and fortify investigations to recoup the assets of fraudsters. The draft law would likewise curb the financial risks borne by enforcers in litigation. Here, Law360 flags three aspects of the government’s new Bill you may have overlooked. Corporate criminal liability widens The centrepiece for white-collar specialists is a plan to extend the spectrum of offences for which a corporate body can face criminal liability when they are committed by senior managers. After years of prosecutorial frustration, the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) overhauled the legal test, allowing authorities such as the Serious Fraud Office (SFO) to hold companies liable for economic offences carried out by their senior managers. These fresh measures would go further. The Bill would reshape the legal test, known as the identification doctrine, so it embraces all kinds of crime in principle and...

Mitchell and others v Al Jaber; Al Jaber and others v JJW Ltd [2024] EWCA Civ 423 What are the practical implications of this case? In most cases, once a company enters liquidation, directors recognise they have no ongoing function after a liquidator is appointed and simply meet their obligation to co-operate with the liquidator. If they nevertheless choose to make decisions or take action after liquidation, they risk being treated as intermeddlers. As intermeddlers, directors assume a fresh suite of duties and, if these are breached, the liquidator may bring a claim against them. Though it is uncommon for directors to try to continue directing or influencing a company in liquidation, this judgment allows liquidators to remind directors to yield to the liquidator’s authority and, if a director still acts rashly, to hold them liable for any losses or damage resulting from such ill-advised behaviour as intermeddlers. It is an additional, if somewhat niche, tool for liquidators in carrying out their role. What was the background?...

This Practice Note summarises the law, guidelines and market practice in relation to holding a general meeting It serves both practitioners and company secretaries dealing with and advising companies whose equity shares are listed on the Main Market of London Stock Exchange plc (listed companies), as well as companies with equity shares admitted to AIM (AIM companies). For details on the notice requirements for a general meeting of a listed or AIM company, refer to Practice Note: General meetings—notice requirements for listed public companies for further information and context. Members of a company may convene and hold a general meeting at any time, and as frequently as required within a year, as needed, so that they can pass resolutions to implement specified changes or to authorise particular actions. The Companies Act 2006 (CA 2006) sets out detailed provisions governing the calling and conduct of general meetings. The CA 2006 also imposes additional obligations on a public company that is a traded company or a quoted company. This captures listed...

Meaning of ‘non-executive director’ The broad definition of ‘director’ is not closed. Under the Companies Act 2006 (CA 2006), a director is any person who occupies the office of director, whatever title they hold. Accordingly, this covers both executive and non-executive directors (NEDs). Executive directors are typically authorised, either by the company’s constitution or by authority delegated from the board, to manage the company’s day-to-day affairs, and they usually have a full-time service contract. NEDs generally: have no executive powers play a pivotal role in the company’s corporate governance are not employees of the company There are a number of challenges around granting shares to NEDs. This Practice Note considers the issues to assess when offering shares or share-based remuneration to NEDs, including: the potential impact on the NED’s independence the share dealing provisions of Assimilated Regulation (EU) 596/2014 for the UK, and the Market Abuse Regulation (Regulation (EU) 596/2014) previously and for the EU ...

This Practice Note has been created in collaboration with Shafaq Sadiq of Wedlake Bell. In Islam, the ethic of ‘giving and helping’ lies at the heart of faith, as such acts greatly please Allah Subhanahu Wa Ta'ala (swt—the most glorified, the most high). The Islamic institution known as the ‘Waqf’ enables the dedication of wealth and is regarded as a very noble practice encouraged by Islamic law. for charitable or religious purposes; and as a means of family wealth management, offering financial stability to the donor’s family during their lifetime or after their death. Waqf The core idea of Waqf is sustainability, ensuring a continuing charitable endowment. The term derives from the Arabic ‘Waqafa’, meaning to halt or hold; in essence, ownership ceases by transferring the property wholly to Allah swt. Waqf is a distinctive instrument within Islam. There is no specific verse in the Quran that sets out the concept of Waqf; however, there are numerous verses in the Quran...

FORTHCOMING CHANGE: The Information Commissioner’s Office (ICO) has issued draft guidance on recruitment and selection, which was open to consultation until 5 March 2024, and has also removed the employment practices code and its supplementary guidance from the employment information page. For further details, see Practice Note: The UK GDPR and DPA 2018: key data protection issues for employment lawyers—Information Commissioner's Office (ICO) guidance. This Precedent will be updated in due course. [ Insert name of organisation ] This notice sets out what personal data (information) we will hold about you, how we obtain it, and how we will use and may share information about you during the application process. We are required under data protection legislation to provide you with this information. Please ensure you read this notice (also referred to as a ‘privacy notice’) and any similar notice we may give you from time to time when we collect or handle personal data about you. Who collects the data [ Insert name of...

[ insert address of sender ] Our ref: [ insert reference ] Your ref: [ insert reference ] [ insert address of recipient ] Date: [ insert date ] Dear [ insert organisation name ] Submission to [ insert company name ] Thank you for wishing to send a submission to [ insert company name ]. You will understand that we receive many submissions from a wide range of individuals and organisations. Our company maintains an active research and development function and, at any moment, we are engaged in numerous research and development projects across various fields. On occasion, you may provide an idea or materials relating to work you have created or research you have carried out and, independently, we may have developed or researched something similar, or already hold comparable information. In those circumstances, by agreeing to keep the information within your submission confidential, we would not wish to be limited in what we can do with...

[ insert name of company who granted the option pursuant to the long term incentive plan (LTIP) ] ( Company ) [ insert name of LTIP ] ( Plan ) Name Number of Shares under Option Option Price per Share Date of Grant Normal Vesting date [ , subject to satisfaction of Performance Targets ] End of Holding Period We hereby confirm that you hold an Option permitting you to acquire up to the maximum number of Shares in [ insert name of Company whose shares are being granted under option ] as shown in the table above. The Option was issued on the Date of Grant set out above under a global deed of grant entered into by the Company [ and is conditional upon the Performance Target(s) attached to this certificate ]. The Option Price due per Share when the Option is exercised is likewise specified in the table above...

For the purposes of this Q&A, it is assumed that: the leasehold property forms part of the unadministered Estate the Estate bears the primary responsibility to pay the service charge the beneficiaries in occupation have a right to occupy the leasehold property Whilst the Estate is being administered, legal ownership of the deceased’s unadministered assets is vested in the personal representatives (PRs) for the purposes of administration and to carry out that administration. In the meantime, no beneficiary, whether taking under the deceased’s Will or by intestacy, has any proprietary interest in any particular or identifiable asset comprised within the unadministered Estate, nor any enforceable claim to such an item. See Practice Note: Beneficiaries’ rights and remedies. The PRs hold extensive powers to administer and manage the deceased’s Estate...

The regulation of consumer credit Under section 19 of the Financial Services and Markets Act 2000 (FSMA 2000), no one may perform a regulated activity, or even hold themselves out as doing so, within the UK unless they are an authorised person—authorised by the Prudential Regulation Authority and/or the Financial Conduct Authority (FCA)—or an exempt person, for example as an appointed representative. For a high-level outline of the UK regulated activities regime, see Practice Note: What are regulated activities? An activity is regulated where it is of a ‘specified kind’—that is, specified in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO), SI 2001/544—and is carried on by way of business...

An Energy Performance Certificate (EPC) An EPC assesses how energy efficient a building is, scoring it from A to G, with A representing the greatest efficiency. It is illegal for a landlord to let a commercial property with an F or G efficiency rating unless a valid exemption is in place. A landlord must hold an EPC in these situations: when renting out or selling the premises; when a building that was under construction is completed; or when changing the number of areas intended for separate occupation and this includes providing heating, air conditioning or ventilation systems. An EPC is valid for ten years. Certain exemptions apply, including both short and long tenancies...