Panel meaning

This is an illustrative timetable for a takeover structured as a scheme of arrangement. It sets out the typical stages of a scheme, spanning the necessary court procedures and the obligations arising under the City Code on Takeovers and Mergers (the Code). In broad terms, it captures each step required in a standard scheme process. For schemes, Rule 31 of the Code, which governs the timing of an offer, does not apply; instead, timing matters are addressed principally in Section 3 of Appendix 7 to the Code. Because the court process must be accommodated, the Takeover Panel (Panel) permits greater flexibility on the scheme timetable than on an offer. Even so, the Code imposes certain constraints on the scheduling of a scheme, including: where the offeror’s firm intention announcement contains a statement from the offeree board that it intends to recommend the scheme, the scheme circular, combining an offer document and the offeree circular, must be posted within 28 days of the firm intention...

This Checklist offers a concise examination of the hands-on elements involved in the tribunal secretary’s role. Its scope is to steer legal practitioners on considerations when choosing and collaborating with a tribunal secretary. The Checklist expresses no opinion on whether appointing a tribunal secretary is suitable; that determination lies with the parties and the arbitral tribunal case by case—see Practice Note: Tribunal secretaries in international arbitration—the advantages and disadvantages. It draws on the legal framework (primarily arbitration rules), case law/jurisprudence, soft law (guidelines and practice notes), professional experience, and prevailing market practices. Taxonomy Tribunal secretary is an umbrella term for a person who supports an arbitral tribunal (a sole arbitrator or a panel) during arbitration proceedings, assisting the tribunal throughout the conduct of proceedings as the arbitration process advances further...

This Checklist outlines the key considerations for an in-house lawyer when settling engagement terms with an external law firm on a banking and finance matter. It is intended for banking and finance practitioners based in banks or other financial institutions. For guidance on points to assess when deciding which external law firms to instruct, see Practice Note: Selecting external law firms—a guide for in-house banking and finance lawyers. Type of engagement The structure and level of detail in the engagement documents will depend on the pre-existing relationship between the bank or financial institution and the relevant law firm. Points to verify include: whether the firm to be appointed sits on the bank’s or financial institution’s legal panel. For further details, see Practice Note: Selecting external law firms—a guide for in-house banking and finance lawyers whether any standing engagement terms exist between the parties, for example a panel agreement. If they do, those documents are likely to capture the majority of the standard terms of...

In this issue Electricity and gas market regulation and licensing Renewable energy Nuclear energy Air emissions, efficiency, and climate change International energy LexTalk®Energy: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Electricity and gas market regulation and licensing Ofgem has confirmed changes to the Regulatory Financial Performance Reporting (RFPR) template and guidance for RIIO‑2, intended to sharpen and clarify what network licensees must report. The revisions apply from 28 June 2024 and follow Ofgem’s earlier notice proposing amendments to the RFPR template and guidance for RIIO‑2. See: LNB News 01/07/2024 9. Electricity Code Modifications: National Grid ESO’s Modification Tracker now brings together all live changes to the Connection and Use of System Code (CUSC), the Grid Code (GD), the System Owner -Transmission Owner Code (STC) and the Security and Quality Supply Standard (SQSS). The tracker outlines each proposal’s purpose, the stakeholders impacted, Panel views...

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...

In this issue: Horizon scanning Directors Status and worker categories Cross-border, international and jurisdictional issues Recruitment Protected characteristics Prohibited Conduct (discrimination etc) Diversity and gender pay gap Maternity, parents and carers Financial services and banking: employment issues Data protection and employee information Bribery, modern slavery, tax evasion and fraud Employment Tribunals Scotland Ireland LexTalk®Employment: a Lexis®Nexis community Dates for your diary Trackers New Q&As Employment resources on Lexis+® Daily and weekly news alerts Horizon scanning BTC launches call for evidence on Employment Rights Bill The Business and Trade Committee (BTC) has opened its first request for evidence for a new inquiry into the Employment Rights Bill (ERB). The inquiry will collect written and oral submissions to steer the Bill’s subsequent passage through Parliament and to gauge whether it is set to meet its stated aims. Written evidence should be submitted by Friday...

FORTHCOMING CHANGE: Agricultural Minimum Wage rates are ordinarily reviewed each year by the Agricultural Advisory Panel for Wales (the Panel). As the recruitment of a new Chair is still underway, the Panel has not been able to finalise an Agricultural Wages Order for 2026. Accordingly, from 1 April 2026 the rates set out in the Agricultural Wages (Wales) Order 2025, SI 2025/293, will continue to apply, except where superseded by changes to the National Minimum Wage (NMW) or National Living Wage (NLW). This Practice Note will be updated to reflect any amendments introduced by the Agricultural Wages Order for 2026 once it is made. FORTHCOMING CHANGE: Relevant provisions (not yet in force) of the Tertiary Education and Research (Wales) Act 2022 will create a new scheme of apprenticeships in Wales, replacing the current regime under Chapter 1 of the Apprenticeships, Skills, Children and Learning Act 2009 (ASCLA 2009), from a date yet to be determined. This Practice Note is a guide to the key elements of employment...

Looking at secondments from the law firm’s perspective Large clients have long become used to insisting on free secondees as a condition of joining or staying on a panel. Gaining a concession of this sort from a law firm might seem appealing, yet it can be a poor choice if there are other routes to client benefit that do not generate the same operational headache for the firm. No firm is keen to release its top associates on secondment; equally, if the secondee is not a strong ambassador, the client’s experience will suffer. So many associates have been hired directly by clients, or have chosen to move in-house, on the back of secondments, that firms are increasingly reluctant. Practices tend to be more open where some payment is offered and the secondment is not a five‑day‑a‑week commitment. Be clear about your aims, and ask whether different options would work better. Reflect on what you truly need from a secondee: someone to bridge a resource gap due...

THIS PRACTICE NOTE APPLIES ONLY TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMES When performing its functions, the Determinations Panel of the Pensions Regulator follows two distinct procedural pathways that must be observed, and must be followed at all times. These two sequences are known as the Standard Procedure and the Special Procedure. the Standard Procedure the Special Procedure As a reserved regulatory function of the Pensions Regulator, issuing a contribution notice or a financial support direction may only be carried out by the Determinations Panel using the Standard Procedure. The Special Procedure is adopted where there is a need to invoke the Regulator’s powers without delay to safeguard members’ interests or scheme assets. This route does not extend to contribution notices or financial support directions. For more detail on the Special Procedure, see The Pensions Regulator’s Determinations Panel—The Regulator’s procedures for exercising its functions. For additional information about the Panel, see Practice Note: The Pensions Regulator’s Determinations Panel. Stages of...

The Directors [ insert offeror's name ] ([ Offeror ]) [ insert address ] [ and ] [ The Directors ] [ [ insert name of financial adviser ] (the Adviser ) [ insert address ] ] [ insert date ] Dear Directors Proposed acquisition of [ name of offeree ] ([ Offeree ]) It is our understanding that [ Offeror ] intends to acquire (the Acquisition ) [ all ] the issued [ and to be issued ] [ ordinary ] shares of [ insert nominal value ] each in [ Offeree ] (the Shares ) for the consideration, and otherwise substantially on the terms and subject to the conditions set out in the draft press announcement enclosed with this letter (the Announcement ), subject to such modifications or additions to such terms and conditions as may be required by the City Code on Takeovers and Mergers (the Code ), the Panel on Takeovers and Mergers (the Panel ), the High Court of Justice in England and...

Precedent transfer A flexible Word edition of the TR1 precedent can be obtained via this link to download, save or print: Drafting notes to precedent transfer Panel 1—Title numbers If several properties are included, list each title number in alphanumeric sequence and, if desired, number them from one; then list the properties in the identical sequence with matching numbers. Use form TR5 if there is a large volume of registered titles. Panel 2—Property description The optional wording is intended for use where the Property is unregistered. For a transfer of the whole of unregistered land, a plan is normally unnecessary. It will usually be enough to cite the conveyance or instrument that contains the property description. A plan need only be added where the root conveyance or instrument does not allow the land to be identified fully or with certainty (for example, by containing a plan, by referring to a plan in an earlier deed, or by including or referring to a sufficiently clear...

APPENDIX [ 1 ]—Conditions and further terms of the Offer Part A 1 Conditions The Offer is subject to the following conditions: 1.1 Acceptance condition receipt of valid acceptances (and such acceptances not being validly withdrawn in accordance with the rules and requirements of the Code and the terms of the Offer) by no later than 1.00 pm (London time) on the Unconditional Date (or at such other time(s) and/or date(s) as [ Offeror ] may, subject to the rules of the Code or with the consent of the Panel, determine) in respect of Shares which, together with all other Shares acquired by [ Offeror ] (whether pursuant to the Offer or otherwise), carry not less than [ 90 ] per cent. (or such lower percentage as [ Offeror ] may decide) of the nominal value of the Shares to which the Offer relates and of the voting rights attached to those Shares, provided that (a) this Condition shall not be met unless [ Offeror...