Interest policy meaning

This checklist guides you to take appropriate measures to spot, monitor and handle risks linked to conflicts of interest, and to comply with the SRA’s requirements. It mirrors the SRA Standards and Regulations. Requirement Compulsory or recommended Comments (if any) ☐ Implement a robust system to recognise and assess conflicts of interest, ensuring you do not act where a conflict exists unless an exception applies. See: -Practice Note: Conflicts of interest-systems and controls -Precedent: Conflicts, confidentiality and disclosure policy-law firms Compulsory - SRA Code for Firms, paras 2.1, 2.5, 6.1 and 6.2 (Insert any comments you may wish to make regarding your firm’s arrangements) ☐ Create a register of interests held by partners and staff, which you can consult to identify own‑interest conflicts. See Precedent: Register of interests to identify own interest conflicts. Recommended - This will help you identify conflicts and demonstrate compliance with the SRA Code for Firms, paras 2.1 and 2.5 (Insert any comments you may wish to make regarding your firm’s...

When carrying out due diligence on the purchase of a head lease, it is vital to identify who carries the obligation to insure, on what conditions, and whether those terms align with the insurance provisions in any occupational leases. The head-lease tenant, as the holder of a valuable interest, should also have a right to the insurance monies if the property is damaged; without that, the asset’s value and prospects for disposal or funding can be adversely affected. What are the key issues to consider in due diligence if the tenant insures? Where the tenant must keep the property in repair, the head lease may require the tenant to arrange cover, either in the tenant’s own name or in the joint names of landlord and tenant. Inadequate insurance can leave the tenant without the resources to reinstate following loss or destruction caused by an insured risk. If the lease places the duty to insure on the tenant, the buyer must confirm the policy satisfies...

FORTHCOMING CHANGE: On 11 March 2024, HM Treasury opened a consultation examining the effectiveness of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692), which impose duties on a range of businesses to identify and prevent money laundering and terrorist financing. The government published its response on 17 July 2025, followed on 2 September 2025 by a draft statutory instrument and an accompanying policy note. The draft SI proposes a de minimis exemption from the requirement to register with the Trust Registration Service where, among other conditions, a trust with no UK tax liability also satisfies all of the following: it holds no interest in UK land; it holds no assets of significant value exceeding £2,000; it has not, since creation, held property with a cumulative value above £10,000; and its income does not exceed £5,000 per annum. This exemption would not be retrospective and would apply solely to new trusts set...

In this issue: Electricity and gas market regulation and licensing Renewable energy Conventional power, waste to energy, biomass, and CHP projects Hydrogen, CCUS and emerging technologies Energy disputes Air emissions, efficiency, and climate change International energy LexTalk®Energy: a Lexis®Nexis community New and updated content Dates for your diary Trackers Energy resources on Lexis+® Daily and weekly news alerts Electricity and gas market regulation and licensing DESNZ confirms enduring governance for Smart Secure Electricity Systems DESNZ has issued its response to the 2025 consultation on enduring governance for the Smart Secure Electricity Systems (SSES) Programme, confirming that Elexon, through the Balancing and Settlement Code (BSC), will establish new Technical and Security Governance Groups to guide the technical and security frameworks that enable consumer-led flexibility. Using powers in section 245 of the Energy Act 2023, the government will amend the BSC so Elexon can run these groups as BSC Panel sub-committees and...

Thomas v Cheltenham Borough Council [2025] EWCA Civ 259 What are the practical implications of this case? This judgment will interest practitioners dealing with prior approval applications for electronic communication developments, and, more generally, those pursuing public law challenges about material considerations and appeals against High Court decisions. It reviews the Supreme Court's guidance in Friends of the Earth v Secretary of State for Transport [2021] UKSC 52 on three types of information that can amount to a material consideration. These include: information that legislation or policy, either expressly or by necessary implication, obliges the decision-maker to take into account or to ignore; and information that the decision-maker is entitled to consider where, in their own judgement and discretion, they regard it as appropriate. The judgment underlines that, within this third class, a decision-maker may choose not to refer to something others might regard as pertinent; yet, unless it was so plainly relevant that no rational decision-maker could have left it out of account, the omission to have regard...

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...

This Practice Note provides an overview of the legal framework and practical context for whistleblowing under the Employment Rights Act 1996 (ERA 1996). It offers high-level guidance for organisations and supports the drafting of your whistleblowing policy and procedures. It is not a handbook for managing whistleblowing claims, which is an employment law issue. What is whistleblowing? Whistleblowing refers to a worker disclosing information about wrongdoing (ie making a disclosure), usually—though not always—arising in the workplace. For whistleblowing protections to apply, the worker must reasonably believe they are acting in the public interest and that the disclosure points to past, current, or likely future wrongdoing within one or more of these categories: criminal offences (eg fraud) failure to meet a legal obligation miscarriages of justice risks to someone’s health and safety damage to the environment from 6 April 2026, sexual harassment concealment of wrongdoing in these categories Whistleblowing legislation is contained in the ERA 1996, as...

What is land remediation relief? (LRR) LRR provides corporation tax relief on expenditure incurred in remediating contaminated land or in bringing derelict sites back into use. In 2009, the regime was broadened to address market failure by returning long-term derelict land to use, bringing such sites back into use. An incentive applies where land, whose development has been affected by various kinds of continuing dereliction, is brought back into productive use. The extension was intended to correct market failure by encouraging activity on sites blighted by ongoing dereliction. The relief was at risk of being discontinued after 2012; however, the 2012 Budget confirmed it would continue. The October 2024 HM Treasury Corporate Tax Roadmap, published alongside Autumn Budget 2024, notes the new Labour government’s commitment to a brownfield-first approach, prioritising the development of previously used land wherever possible. Given the time since the last review of LRR, and the potential for it to help progress the government’s objectives, the Roadmap announced that a consultation would be launched to...

This Practice Note is aimed at law firms. It encapsulates the publicity obligations in the SRA Standards and Regulations, together with associated SRA guidance and warning notices. In essence, you must ensure that any publicity about your practice accords with the SRA Principles, particularly by acting in a manner that sustains public trust and confidence in the solicitors’ profession and with honesty and integrity. When delivering services to the public, or a section of it, you must also ensure that publicity about your practice is accurate and not misleading, including any statements about your charges and the situations in which interest is payable by or to clients. There are additional requirements concerning letterheads, how staff are described, your regulatory status, and price and service information, etc, which apply more broadly. See also Precedent: Publicity policy—law firms. What is publicity? Publicity includes: all promotional material and activity, including the name or description of your firm stationery advertisements brochures websites directory entries...

Conflicts, confidentiality and disclosure policy Our Conflicts, confidentiality and disclosure policy outlines our stance on when we may proceed in conflict situations. We also provide guidance for specific [ departments OR types of work ]. This guidance demonstrates how the policy might operate in varying scenarios, but it is not meant to be comprehensive or inflexible. For each matter addressed by these guidelines we must assess whether a conflict exists and, if it does, whether we are able to act...

1 Amount of interest We will credit a reasonable amount of interest to clients or third parties on any client funds we are holding for them. 2 Circumstances in which interest will not be paid We will not pay interest: 2.1 on funds we are directed to keep outside of a client account in a manner that earns no interest, eg cash held in our safe; 2.2 where the amount of interest, as assessed under this policy, falls below £[ 30 ] [ —on the basis that the costs financially associated with paying that interest are disproportionate to the amount involved overall ] ; 2.3 where we agree an alternative arrangement, in writing, with the client or third party for whom the money is held—when this occurs, we will provide sufficient appropriate information to enable the client or the third party to give informed consent (see ‘Contracting out’ at section 9 below); 2.4 [ on money held for the Legal Aid...

Definitions This Deed, between Lender and Borrower, defines key expressions used. Costs: all expenses on a full indemnity basis, including legal and professional fees. Event of Default: events in clauses 4.1.1–4.1.9. Financial Indebtedness: borrowing, bonds, finance leases, receivables financing, counter‑indemnities, and related guarantees. Insurance Policy: any current or future insurance benefiting the Borrower regarding the Real Property. Interest Rate: the stated annual rate or a closely comparable replacement if required. Legislation: UK laws and subordinate instruments, as amended, including approved codes of practice. Real Property: the assets in Schedule 1 together with buildings, fixtures and fixed plant. Receiver: any receiver (including a receiver and/or manager) appointed under this Deed or by law. Secured Obligations: all present and future liabilities to the Lender, including Costs and interest. Security Interest: any mortgage, charge, pledge, lien or similar arrangement conferring security. Security Period, VAT, Working Day: from today until full discharge; value added tax; any day except Saturday, Sunday...

What is pre-planning restrictive covenant insurance? Restrictive covenant insurance safeguards people holding an interest in land that is burdened or encumbered by a restrictive covenant. It generally also covers losses including: damages awarded against the insured expenses to modify or demolish a building or other structures to comply with a covenant abortive works costs legal costs This cover can be arranged before planning consent has been obtained for a development where the intended development site is burdened by restrictive covenants. That includes situations where planning permission has not yet been obtained. When is it appropriate to take out a pre-planning restrictive covenant insurance policy? Clearly, if a restrictive covenant looks likely to affect the proposed development, all efforts should be made to resolve matters at the earliest opportunity. Every effort should be made to iron out issues as early as possible...