Multi-tenancy meaning

Non-controlling minority shareholdings This Checklist identifies the jurisdictions worldwide where acquisitions of non‑controlling minority shareholdings must be notified, provided the other jurisdictional thresholds are satisfied. In this context, ‘non‑controlling minority shareholdings’ means any degree of influence falling short of what the EU Merger Regulation terms ‘decisive influence’—namely, the capacity to exercise a significant level of control over an undertaking’s strategic commercial behaviour. That influence can be exercised through a variety of routes, including share ownership, voting rights (in particular, veto rights), or contractual arrangements, and does not necessarily involve holding a majority shareholding...

To bring a business tenancy to an end on the contractual expiry date or at any point thereafter, a tenant may rely on a notice given under section 27 of the Landlord and Tenant Act 1954 (LTA 1954). This Checklist sets out the circumstances and procedure for serving such a notice. For wider guidance on ending LTA 1954 tenancies, refer to Practice Note: LTA 1954 business lease renewal—termination. It outlines timing and the method of service in clear terms. Is the tenancy for a fixed term? A section 27 notice is available only where the tenancy is for a fixed term. It is not available for periodic tenancies. Nevertheless, a tenant may end a periodic tenancy by giving a common law notice to quit (see Practice Note: LTA 1954 business lease renewal—termination under the heading Termination of LTA 1954 tenancies). Have any other notices been served? Once a tenant has served a section 26 request, they cannot then serve a section 27 notice...

More than 150 jurisdictions operate merger control, or regimes akin to it. Within these systems, competition regulators may prohibit a deal entirely, or approve it subject to remedies, whether agreed or imposed. This Checklist sets out practical points to bear in mind when managing filing obligations across multiple jurisdictions. For overviews of merger control rules in every jurisdiction, see MJ merger grid—jurisdiction and MJ merger grid—procedure. For distilled takeaways, consult Key learning points from MJ reviews—anomalies, absurdities and potential pitfalls. It also flags issues commonly seen in practice. Guidance is provided in those resources. What transactions fall within merger control rules? Relevant transactions Across most regimes, including the EU, merger control captures any deal that places formerly independent undertakings under common control. Control is often defined broadly. Acquisitions of control—sole v joint control Control can rest with a single party, or be shared with one or more others: sole control: a shareholder that acquires control can take strategic decisions for the target without...

This Checklist is intended for situations where: a leasehold property is being purchased and the tenant (or a predecessor in title) entered into an agreement for lease prior to completion of the lease; or a reversionary interest is being bought and the reversioner (or a predecessor in title) entered into an agreement for lease before completion of an existing occupational lease, or an agreement for lease remains in place pending completion of a lease. In each case, the agreement for lease predates completion of the relevant lease. You should confirm whether any outstanding or continuing obligations in the agreement for lease (eg to rectify defects or undertake works) will bind the purchaser. Any surviving obligations that bind successors in title could adversely affect the property’s investment value. Note that this Checklist is not comprehensive and, depending on the nature of the transaction, other issues may arise from the agreement for lease and require consideration. This Checklist also does not address limitation periods...

Under the Landlord and Tenant Act 1954 (LTA 1954), a business lease carries on automatically after the end of the contractual term if the tenant remains in occupation for business purposes. Either party can bring those statutory rights to an end by serving one of the prescribed termination notices. This flowchart explains the steps for an unopposed business lease renewal under the LTA 1954. For the procedure where renewal is opposed, see: LTA 1954 opposed lease renewal procedure—flowchart. For further detail on LTA 1954 security of tenure and the court process, consult Practice Notes: LTA 1954 business lease renewal—proceedings and LTA 1954 business lease renewal—termination. Note 1 Diarise a date at least 12–18 months before the contractual expiry of the existing lease. See Practice Note: LTA 1954 business lease renewal—termination. Note 2 Information must be supplied within one month of service of the notice. A party is obliged to correct any information provided for six months after receiving the notice. This applies to both parties equally...

FORTHCOMING CHANGE : The Renters’ Rights Act 2025 obtained Royal Assent on 27 October 2025. For guidance on the Act’s effect on residential tenancies in England, see Practice Note: Renters’ Rights Act 2025—key provisions. This Flowchart outlines how to end an assured (AT) or assured shorthold tenancy (AST) via section 8 of the Housing Act 1988 (HA 1988), including: service of a section 8 notice issuing proceedings the steps in the case leading to an order for possession Where HA 1988 applies, unless the tenant agrees to leave voluntarily, a landlord may recover possession only by using the procedures in HA 1988, sections 8 or 21, obtaining an order for possession and enforcing it. See Practice Note: Assured and assured shorthold tenancies—terminating. The section 8 process is available where the tenant has defaulted on tenancy obligations (for example, failing to pay rent) or the landlord qualifies for possession on another HA 1988, Sch 2 ground, whether during a fixed...

CureVac On 27 March 2025, CureVac announced that the EPO has formally permitted it to retain a revised version of its mRNA technology patent. As of 28 March 2025, the EPO’s full written decision was not yet publicly available. In a statement, Alexander Zehnder, CureVac’s Chief Executive, said the bid to secure the patent is a ‘multi-step process’ in Europe and the US. He added that the ruling is a significant milestone on a journey they expect will result in acknowledgement of CureVac’s substantial contribution to safe and effective COVID-19 vaccines as one of the earliest pioneers of mRNA technology...

Illuminate Skin Clinics Ltd v HMRC [2025] UKUT 341 (TCC) The appellant’s services were carried out by Dr Shotter, a registered medical practitioner acting for the appellant. It was common ground that a number of those supplies, including make-up and retail skincare products, also attracted the standard rate of VAT. The question was whether other services, for example procedures that reduce fat cells, fell within the exemption in item 1, Group 7, Schedule 9 to the Value Added Tax Act 1994 (VATA 1994)...

Putney Power Ltd and another v Revenue and Customs Commissioners [2026] UKUT 105 (TCC) What are the practical implications of the case? This ruling confirms there is no definitive legal ‘test’ for pinpointing when a trade starts for EIS relief. The question set by statute is when a given taxpayer began carrying on its own trade, answered through a multi-factorial enquiry into the particular facts before the court, applying the legislation’s ordinary language. The judgment clarifies the proper approach whenever a statute calls for a multi-factorial assessment, with ramifications that extend far beyond the EIS sphere. It underscores that the enquiry is fact-sensitive, turns on the totality of the circumstances, and is steered by the legislation’s words, not any rigid checklist or bright-line rule. In undertaking such an exercise, the FTT may take account of relevant factors noted in earlier cases, but those points must not be treated as glosses on the statutory wording in issue. Further, when weighing the facts, the FTT should distinguish between decisions of...

Over the course of the past month, annual adjustments have been made to merger control thresholds in Canada, Italy and the Philippines, while Montenegro has revamped its regime, introducing swifter timetables and more adaptable filing provisions. Canada—thresholds remain the same in 2026 On 2 March 2026, the Canadian Competition Bureau (CCB) confirmed, after its yearly review, that Canadian merger notification thresholds will stay exactly as they are for 2026. The thresholds remain (in brief): size of transaction test: the target must be, or control, an operating business in Canada with more than CDN$93m (approximately €58.9m/US$66.6m) in Canadian assets (book value) or gross revenue produced by those assets from sales in, from or into Canada (ie domestic plus export sales), and size of parties test: all parties and their affiliates (in aggregate) must together hold over CDN$400m (approximately €253.4m/US$286.3m) in Canadian assets or gross revenues derived from sales in, from or into Canada (ie domestic sales, exports and imports) (this threshold is unchanged and...

What is a service charge? A service charge is a sum a tenant may have to pay to a landlord under a commercial lease to reimburse the landlord for services they provide in connection with the common parts and for the upkeep of the property. Commonly, this applies where multiple tenants occupy one property, for example a shopping centre, and the landlord looks after the communal parts of the building for everyone’s benefit. In most contemporary leases the tenant pays the service charge on account, before the landlord incurs the expenditure, calculated from an estimate of the next year’s costs. At the close of the accounting period a reconciliation is prepared and any shortfall or surplus is settled by or to the tenant. Sometimes, earlier forms of lease stipulate that the landlord must meet the outlay first. For more detail on service charges ordinarily charged to tenants of multi-occupied buildings by commercial landlords in Scotland, see Practice Note: Service charge and outgoing provisions in commercial leases in Scotland. ...

A risk with employment cessation events is that they can be set off unintentionally, for example because the last remaining active member of an employer in a multi-employer defined benefit scheme has left. The Employer Debt Regulations, SI 2005/678 were amended with effect from 6 April 2008 to introduce grace periods, a device intended to help employers deal with accidental employment cessation events. For further information on employment cessation events and other section 75 triggers, see Practice Note: When is a section 75 debt triggered? When can a grace period be used? When can a grace period be used? An employer in a multi-employer defined benefit scheme may notify the trustees that it wishes to enter a grace period (by giving a grace period notice) if: that employer ceases to employ active members at a time when at least one other employer still employs active members, thereby creating an employment cessation event, and it intends to employ at least one individual who is an...

This agreement is dated [ insert day and month ] 20[ insert year ] Parties [ Insert name of company in which the shares are held ], incorporated in England and Wales with company number [ insert company number ] and having its registered office at [ insert address ] (the Company), [ Insert name of company in which the shares are held ], incorporated in England and Wales with company number [ insert company number ] and having its registered office at [ insert address ] (Newco 2), [ Insert name of company in which the shares are held ], incorporated in England and Wales with company number [ insert company number ] and having its registered office at [ insert address ] (Newco 3), The various persons named and addressed in Schedule 1 (together, the Managers), and The various persons named and addressed in Schedule 3 and any other such person as defined in clause 1.4 (the Investors) ...

[ AT THE COUNTY COURT AT [ INSERT ] OR IN THE HIGH COURT OF JUSTICE ] [ [ SPECIFY DIVISION ] ] [ DISTRICT REGISTRY AT [ INSERT LOCATION ] ] Claim No: Between [ Insert name ] Claimant and [ Insert name ] Defendant ________________________________________________ SCHEDULE OF LOSS CALCULATED TO [ INSERT DATE OR INSERT THE DATE OF TRIAL ] ________________________________________________ Note On 2 December 2024, the Lord Chancellor declared that the discount rate would move to positive 0.5%. This positive 0.5% rate comes into effect on 11 January 2025. Schedule A1 to the Damages Act 1996 stipulates that later reviews are to occur within five years of the end of the preceding review, which means the next review must start on or before 2 December 2029. The Claimant reserves the ability to revise, amend, or supplement this schedule at any point up to and including trial. A....

[ IN THE COUNTY COURT AT [ INSERT ] OR IN THE HIGH COURT OF JUSTICE ] [ [ SPECIFY DIVISION ] ] [ [ SPECIFY SPECIALIST COURT ] ] [ [ INSERT LOCATION ] DISTRICT REGISTRY ] Claim No: Between [ A B ] Claimant and [ X Y ] Defendant ______________________________________________ COUNTER SCHEDULE OF LOSS ______________________________________________ The Defendant retains the right to vary, revise or supplement this Counter Schedule of Loss at any time up to and including the trial. PAST LOSSES 1 Previous loss of earnings (i) Loss of earnings to [ insert date eg 26 February 2019 ] are accepted in the pleaded claim at £[ insert amount ]. (ii)–(iii) Loss for the period [ insert date eg 26 February 2019 ] to [ insert date eg 25 August 2019 ] is not admitted. As a matter of principle, the Defendant accepts that it may take time to secure work of equivalent remuneration. However, the Claimant’s evidence does...

Section 213 of the Housing Act 2004 (HA 2004) sets out the obligations on landlords who take a deposit in relation to an assured shorthold tenancy. Every deposit must be handled in line with an authorised scheme (HA 2004, s 213(1)), and the scheme’s initial requirements must be met within a period of 30 days from receipt of the deposit (HA 2004, s 213(3))...

Section 17 of the Landlord and Tenant (Covenants) Act 1995 (LT(C)A 1995) provides that: (1) This provision applies where a person (“the former tenant”) has, as a consequence of an assignment, ceased to be the tenant under a tenancy, but either: namely that (a) in the context of a new tenancy, has, under an authorised guarantee agreement, guaranteed his assignee’s performance of a tenant covenant of that tenancy under which any fixed charge is payable; or (b) in relation to any tenancy, still remains obliged by that covenant under that tenancy, notwithstanding assignment...

Right to rent scheme The duties imposed by the right to rent scheme extend to all relevant lettings described in Practice Note: Residential tenancies—a tenant’s right to rent under the Immigration Act 2014, except where a letting is an excluded tenancy set out in Schedule 3 to the Immigration Act 2014 (IA 2014), also cited in that Practice Note. Be aware that social housing—as defined in IA 2014, Sch 3—is outside scope entirely...