Permitted investments meaning

This decision tree outlines a logical route for deciding whether you can carry out live telephone marketing and, if permitted, who you may contact. For guidance on other forms of marketing, see: Direct marketing decision tree—postal—data protection and Direct marketing decision tree—email and other electronic mail marketing—data protection. Direct marketing refers to the communication (by any means) of advertising or promotional material directed at specific individuals. Live or automated telephone calls? This decision tree is not intended for automated calls, as the rules governing automated calls are far more stringent than those for live calls. You must not make automated marketing calls to an individual unless they have given explicit consent to receive that precise type of call from you. General marketing consent, or consent applicable only to live calls, is insufficient—it must expressly include automated calls. Consequently, there is little value in a decision tree for automated marketing calls—this tree covers live marketing calls only. See Practice Note: Direct marketing compliance—Automated calls. Claims management services ...

In this issue: Key developments and horizon scanning Transferring property Leasing property Property management Residential property Environment, energy and buildings Easements, rights and covenants Property development Property taxes Property in Wales Property in Scotland LexTalk®Property: a Lexis®Nexis community Additional property updates this week Daily and weekly news alerts New and updated content Trackers New Q&As Key developments and horizon scanning BPF and Law Commission comment on draft Commonhold and Leasehold Reform Bill The British Property Federation (BPF) has issued its views on the draft Commonhold and Leasehold Reform Bill, warning that proposed caps on ground rents could undermine investments held by pension funds and institutional investors. It said investors who acted in good faith to meet pension liabilities should be compensated, and noted that government announcements do not address this point. While it supports parts of the commonhold package, including adjustments to funding for major works,...

Funding, surplus and investment Government urged to amend Pension Scheme Bill’s reserve powers to allow pension funds access to private markets through investment trusts On 25 July 2025, the Association of Investment Companies (AIC) published a press note and an accompanying letter, dated 22 July 2025, to Torsten Bell, Minister for Pensions, urging changes to the current Pension Schemes Bill mandation provisions. The AIC asked the government to enable pension funds to invest in private assets via investment companies, also known as investment trusts, which are presently outside the scope of the Bill’s proposed reserve powers. As drafted, the Bill would grant the government reserve powers to require defined contribution (DC) schemes to allocate a share of their assets to UK private investments. However, the AIC argues that, in its current form, the legislation would stop DC schemes from meeting any mandation where investment trusts are used, as they are excluded from the permitted range of assets for pension schemes, despite their considerable role in financing UK growth...

Original news Mr T(PO-28491)/Mr T(PO-28218)—14 November 2019 Summary The Pensions Ombudsman rejected a grievance alleging a Self-Invested Personal Pension (SIPP) improperly levied an £800 yearly charge on pension assets valued at £1. The SIPP had pursued a speculative property investment that became distressed, though it did not go insolvent. As the investment remained active, the provider was entitled to refuse closure of the plan, since winding it up could potentially jeopardise any FSCS recovery. Under the plan rules, the provider was also permitted to raise its fees on giving notice. This matter highlights the potentially far-reaching consequences of choosing speculative investments. What were the facts? These two determinations stem from essentially the same circumstances. Mr T was a member of a SIPP. The SIPP provider was entitled to an annual management charge, which could be increased on notice to members...

When considering entry into a joint venture, participants should carefully scrutinise the identity of the other intended parties and the experience and resources they expect to bring to the venture. They are, therefore, likely to want to ensure those parties remain engaged in the joint venture (at least for a pre‑agreed period of time) and to retain controls over to whom they may transfer their shares. The nature of any share transfer constraints adopted will also depend on, among other things, the anticipated duration of the joint venture, how the parties propose to realise their investments, the cash‑flow and fundraising requirements of the parties, and any share transfer restrictions contained in other transaction documents, e.g. financing documents. Restrictions on transfer For these reasons, most joint venture agreements (JVA) (also known as shareholders’ agreements) and/or the articles of association will include a series of restrictions governing the transfer of shares by the joint venture parties...

This Practice Note focuses on the practical issues arising on the winding-up of defined benefit (DB) pension schemes Where a wind-up is anticipated, many of the points outlined below can be addressed in advance, and, preferably, a project plan should be prepared and agreed by the trustees and the employer. In such a case, the scheme employer must also consult any employees who are affected and ensure it meets its statutory auto-enrolment duties (further details on both are provided below). Attention should additionally be given to whether changes could, or should, be made to the scheme’s trust deed or rules before winding-up begins because, subject to the scheme’s amendment power, alterations may not be permitted once winding-up has been triggered. For more information, see Practice Note: Interpretation of restrictions on pension scheme amendment powers. In certain situations, advance planning will not be possible, for example if winding-up is initiated by insolvency proceedings against the principal employer or by an employer default. Prepare and agree a trustee–employer...

ARCHIVED: This archived Practice Note sets out key dispute resolution (DR) appeals or notable appellate court rulings in the sphere of general civil litigation in England and Wales from 2023 to the present, and highlights significant pending appeal matters (to support horizon scanning) alongside reported decisions handed down by the Supreme Court, Court of Appeal, Competition Appeal Tribunal, Judicial Committee of the Privy Council (the Privy Council), Court of Justice of the European Union (Court of Justice) and the European Court of Human Rights (ECtHR). Links are provided to each judgment and any bespoke News Analysis to aid comprehension of the principles addressed in the decisions and the impact of those rulings. This Practice Note comprises two elements designed to help dispute resolution practitioners stay current with developments in case law that affect their practice area, or that bear upon civil litigation procedure more generally: selected forthcoming appeals to the Supreme Court are listed below; see Dispute resolution: key appeal cases—2023—Key forthcoming appeals to the Supreme...