Office-holder meaning

Introduction to freezing injunctions and scope of this checklist A freezing injunction (also known as a freezing order) is a temporary court order that prevents a respondent from disposing of or transferring its assets out of the relevant jurisdiction—namely England and Wales—or, in the case of a worldwide freezing order (WFO), from moving them anywhere in the world. The court’s principal aim in granting such relief is to preserve the respondent’s assets so that, if the applicant later obtains judgment against the respondent, there will be assets available for recovery by the applicant and, if necessary, enforcement action. This Checklist explains how to make an application for a freezing injunction where claims are contemplated or already underway in a corporate or personal insolvency context. As the precise circumstances of each matter must be assessed, this Checklist does not claim to be exhaustive; rather, it provides an overview of the key considerations at each stage when seeking an order of this kind. The focus throughout is asset preservation pending determination...

Checklist The Office of Financial Sanctions Implementation (OFSI), a part of HM Treasury, is responsible for communicating, implementing and enforcing financial sanctions in the UK. It also holds powers to grant licences that permit an activity or transaction which would otherwise be prohibited under the UK financial sanctions regime. OFSI may only issue licences connected to financial sanctions. If your application concerns a different sanction, such as trade or immigration, you must send it to the appropriate Department. See further Practice Note: Understanding the financial sanctions regime. This Checklist brings together the requirements for applying to OFSI for a financial sanctions licence, alongside recommendations to help make your application faster and easier. These are drawn from multiple sources, including the Sanctions and Anti-Money Laundering Act 2018 (SAMLA 2018) and regulations made under it, various OFSI guidance materials, and guidance from the Solicitors Regulation Authority (SRA). This Checklist also signposts relevant content to support compliance with these requirements and suggestions. A section is provided for you to indicate completion...

General partners Does the limited partnership agreement permit the appointment of a new general partner? If so, what steps must be followed? If not, which additional documents are needed (for example, a deed of variation)? Will the current general partner step down or be removed from office? Please state the name and address of the incoming general partner...

STOP PRESS: This document is currently being updated to take account of the full implementation of the Data (Use and Access) Act 2025 (DUAA 2025), which amends both the UK GDPR and the Data Protection Act 2018. For further guidance on the compliance consequences of DUAA 2025, see Practice Note: Data (Use and Access) Act 2025—compliance implications. The UK General Data Protection Regulation (UK GDPR) grants data subjects several rights, including, among others: access to their personal data rectification erasure restriction of processing data portability a right of data subjects Individuals may ask an organisation at any time of their choosing to exercise one or more of these rights, and strict time limits and deadlines apply to responding to such requests promptly. See Practice Note: How to handle data subject requests. This Flowchart sets out a process for dealing with data subject requests made under the UK GDPR and reflects the requirements in the UK GDPR together...

FORTHCOMING CHANGE: Following the Government’s response to the Ministry of Justice and the Office of the Public Guardian (OPG) consultation, Modernising Lasting Powers of Attorney, the Powers of Attorney Bill was granted Royal Assent on 18 September 2023, becoming the Powers of Attorney Act 2023 (PAA 2023). Once commenced, PAA 2023 will amend the Mental Capacity Act 2005 (MCA 2005) to provide a more modern lasting power of attorney (LPA) service...

Procurement process flowchart This Procurement process flowchart outlines the sequence a procurement might follow and highlights the factors to weigh and the considerations involved to maintain a transparent and appropriate procedure. It further points to the Precedents on hand to support you through the procurement steps. This Flowchart serves as a worked illustration and is not meant to be exhaustive. While organisations may adopt quite varied approaches, it offers a useful baseline or point of reference. Any contract value amounts shown here are for demonstration purposes only...

In this issue: Electricity and gas market regulation and licensing Networks and network connections Renewable energy Capacity Market, balancing services and energy system flexibility International energy Daily and weekly news alerts Dates for your diary Trackers Electricity and gas market regulation and licensing DESNZ launches consultation on regulating TPIs in the retail energy market The Department for Energy Security and Net Zero has opened a consultation to bring Third Party Intermediaries in the retail energy market under regulation, bolstering consumer protection and aiding the shift to a cleaner energy system. Triggered by cases of consumers and businesses being targeted by unregulated rogue brokers and other TPIs, this forms part of the government’s ongoing support for Ofgem to develop an effective market for non-domestic customers, alongside implementing recommendations from Ofgem’s July 2023 non-domestic policy consultation. The consultation closes on 15 November 2024. See: LNB News 20/09/2024 36. Ofgem launches statutory consultation on SoLR Levy Offset...

Thiel-Czerwinke and another (joint liquidators of Courtside Recycling Ltd) v Crabb [2024] EWHC 337 (Ch) What are the practical implications of this case? This ruling underlines the uncompromising obligation on directors to maintain trading records, and accepts that discarding or failing to retain them was, on these facts, a constituent part of the director’s fraudulent design. It also clarifies that once office-holders demonstrate that company assets or cash were transferred to a director, the absence of documents showing that the funds or property were applied for the company’s advantage renders the director liable to repay the whole amount to the company. That outcome applies even though the judge did not doubt that Mr Crabb did in fact use some of the cash when making payments for Courtside... What was the background? Mr Crabb served as the Company’s sole director; the business dealt in scrap metal. For the trading periods from August 2014 to February 2018, the Company submitted VAT returns declaring sales, net of VAT, totalling...

What are the most significant changes introduced by the Act that pension scheme trustees need to prepare for? The most notable reforms in the Act that trustees should be ready for are: Data subject complaints: complaints about the handling of personal data must be acknowledged within 30 days and answered without undue delay. ICO enforcement powers: the Information Commissioner’s Office (ICO) now has authority to compel interviews and require the production of documents to assess compliance. Data subject access requests (DSARs): the Act codifies the ICO’s existing guidance, meaning (i) trustees must apply a ‘reasonable and proportionate’ search standard when responding; and (ii) the ‘stop the clock’ rule pauses the one-month deadline for a response. Automated decision making (ADM): the Act allows reliance on the full set of lawful bases — including ‘legitimate interests’ — when non-special category personal data is used for significant automated decisions about an individual, provided suitable safeguards are in place. ...

Family office The phrase ‘family office’ spans a wide array of circumstances, so there is no universally agreed definition. The Family Firm Institute, however, characterises a family office as: ‘A separate entity apart from the operating business (and sometimes created with the assets realised after the sale of a family enterprise) consisting of a diversified wealth portfolio held for the benefit of the family’ (Family Enterprise; understanding Families in Business and Families of Wealth Wiley 2014 (not reported by LexisNexis®)). Such offices are largely, and more commonly, the preserve of high net worth—indeed ultra high net worth—families (ie those with investable assets above $30m), with varied holdings and complex affairs. That complexity can create scope for disputes. Nonetheless, with a well-designed structure supported by a clear strategy and effective family governance, a family office can yield substantial advantages. These benefits accrue not only to the family members themselves but also, through coordinated philanthropic efforts, to the broader community. Likely features of a family office include: a...

Quick view This Practice Note explores whether an employee can be engaged by two or more employers for the same role at the same time—joint employment (also termed dual employment or multiple employment). It examines the general assumption, the issue of vicarious liability, and the position of agency workers, office-holders and teachers. It also considers the setting of collective bargaining, the effect of TUPE 2006, and tax questions that may arise. Finally, it reviews the factors relevant to written contracts that involve multiple employers. Joint employment is typically discussed in relation to vicarious liability, for instance negligence (see: Vicarious liability, below). Regarding an individual’s employment rights, it appears reasonably clear that the prevailing presumption—that an employee cannot have more than one employer for the same work at the same time—can be displaced in these situations: where the person has two roles with separate employers and the roles are compatible; and where two or more employers act together within a partnership or joint venture ...

People with significant control (PSC) regime The architecture of the people with significant control (PSC) regime, which first commenced on 6 April 2016, is contained in Part 21A of the Companies Act 2006 (CA 2006). Its purpose is to tackle worries about the lack of transparency in corporate ownership, where historically the register captured only the legal holder of shares, not always the beneficial owner. By requiring a PSC register, more precise and up‑to‑date details are available about who ultimately owns and directs companies and other bodies, and this information is made public via the central register at Companies House and remains accessible to the public. It assists prospective investors in their decision‑making. It likewise aids law enforcement bodies with money laundering enquiries. LLPs formed under the Limited Liability Partnerships Act 2000 must keep a record of persons with significant control over the LLP under the Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016, SI 2016/340 (the LLP Regulations), as amended by the Information about People...

INSOLVENCY ACT APPLICATION NOTICE Case No: [ insert case number ]. Court: High Court (Business and Property Courts, Insolvency and Companies List (ChD)) OR Business and Property Courts in [ insert location ] OR County Court at [ insert location ] (Business and Property Work). In the matter of [ insert company’s name ] and the Insolvency Act 1986. Parties: [ Insert Applicant(s) ] v [ Insert Respondent(s) ]. Under IR 2016 r 18.23. Parties and addresses: Applicants [ names/addresses ]; Respondents [ names/addresses ]. Application relates to [ details ]. Judge: [ level ]. Venue: [ court/hearing centre ]. Ref: [ number ]. Orders sought: Fix remuneration at £[ insert sum ] plus VAT; disbursements £[ insert sum ]. Costs to be an expense of the [ liquidation/administration ]. Any further order or relief the court considers appropriate. Grounds: witness statement of [ name ], dated [ date ]. Service/notice: [ names/addresses, if any, or none ]. Address for...

Brief details of claim This action is brought under section 423 of the Insolvency Act 1986. The Claimant is the [ insert office held ] at [ insert name of the company ] (the Company). ...

This Agreement is dated [ date ] Parties [ insert name of the pursuer ], a company registered in Scotland (no [ insert company number ]), whose [ registered office OR principal place of business ] is at [ insert address ] (the Pursuer) [ and ] [ ; ] [ insert name of defender ], a company registered in Scotland (no [ insert company number ]), whose [ registered office OR principal place of business ] is at [ insert address ] (the Defender). Each being a Party and, together, the Parties. Whereas (A) [ Insert details of the background to the dispute eg ‘The Parties entered into a contract for the supply of certain goods etc ]. (B) A dispute has emerged between the Parties regarding [ insert details of the dispute ] (the Dispute). (C) [ Proceedings were raised by the Pursuer against the Defender on [ date ] by way of [ Summons OR...

The general rule The general rule is that when a buyer of a freehold interest enters into covenants with the seller, although the burden of restrictive obligations will in many instances bind a successor in title, positive duties requiring the covenantor to act do not run when the freehold is conveyed. A rentcharge operates as a device by which a monetary duty can pass to the successor of the initial buyer. There is no issue, as a matter of contractual privity, in imposing on the purchaser a contractual obligation to pay the seller for the supply of services relating to the land; however, matters become more intricate once the seller transfers the freehold estate to a third party. The rentcharge nonetheless entitles its holder to demand regular periodic payments of money from the owner of the freehold estate. It is not a mortgage, because it does not function as security for a debt...

A Sponsor may submit applications for multiple licence tiers concurrently; however, in the scenario raised in this Q&A it would be unwise, as approval of one would, by necessity, preclude success of the other. For a Skilled Worker licence (a Worker route), one of the criteria is that the company is lawfully operating or trading in the UK. The Home Office has, of late, taken a firm stance in rejecting Sponsor Licence applications under the Skilled Worker route where the business is not yet producing income—often described as ‘pre‑revenue’. Although limited cases exist in which a pre‑revenue enterprise might still obtain a licence, the prevailing position now is that such bids are typically declined. This reflects current Home Office practice today...

If a lease was granted at undervalue, you are the 3rd owner, and you knew it was at undervalue, if creditors ask for an order returning the property to the original owner you cannot claim relief? Transactions at an undervalue (TUVs) are regulated by the Insolvency Act 1986 (IA 1986). The relevant provisions are: sections 238, 240 and 241 of the IA 1986 for companies sections 339 to 342 of the IA 1986 for individuals These powers are available to trustees in bankruptcy, liquidators (in both compulsory and voluntary liquidations), and administrators. They permit the office-holder to review dealings made by the insolvent person or company in the lead-up to insolvency and to assess whether assets should be recovered for the insolvent estate. In particular, an order under: section 241 of the IA 1986 (for companies), or section 342 of the IA 1986 (for individuals) cannot be made against the other party to a...