Preferred security meaning

Brexit highlights In this issue: Brexit highlights Brexit SIs Post-Brexit transition guidance Constitutional and administrative law Public procurement Judicial review Information law Subsidy control and State aid State security and intelligence State accountability and liability Other Public Law news LexTalk®Public Law: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information HM Treasury and European Commission publish joint statement on Withdrawal Agreement payments HM Treasury and the European Commission issued a joint update confirming ongoing progress on the Withdrawal Agreement’s financial settlement after the eleventh meeting of the Specialised Committee on Financial Provisions on 25 June 2025. The UK and the EU exchanged updates on work within the Committee’s remit and reviewed the annual reporting package delivered at the end of March 2025, alongside the ninth invoice sent by the Commission in April 2025. In accordance with...

R (on the application of Together Against Sizewell C Ltd) v Secretary of State for Energy Security and Net Zero and another company [2023] EWCA Civ 1517 What are the practical implications of this case? This ruling is notable in light of the pressing requirement for additional nuclear generating capacity highlighted in the energy national policy statements, alongside EN-6’s identification of Sizewell C as a potentially suitable location for new nuclear development. The judgment’s treatment of how utilities infrastructure necessary for a major project should be evaluated has wider significance beyond this scheme. The court rejected the appellant’s stance that utilities infrastructure must be incorporated within the development itself, finding that approach could induce a ‘sclerosis in the planning system’. Decision-making on the main scheme would then be held up pending a utility provider’s choice of preferred method of supplying water, electricity, gas or sewerage, thereby risking delay. It was further held that the environmental effects of any future utilities infrastructure could properly be considered through...

What is the background to the TMO4+ grid connection reforms? TMO4+, short for ‘Target Model Option 4 Plus’, is an extensive suite of reforms led by NESO (originally initiated by its predecessor, National Grid Electricity System Operator (NGESO)), and supervised—and now approved—by Ofgem, reshaping the process for securing connections to the electricity transmission and distribution networks in GB. The TMO4+ package developed from earlier ‘TMO4’ proposals (‘first ready, first connected’) put forward by NGESO as its preferred option in the Connections Reform: Final Recommendations Report (December 2023). That work aimed to deliver the ambition set by the Department for Energy Security and Net Zero (DESNZ) and Ofgem of grid ‘transmission connection dates being offered to customers on average no more than 6 months beyond the date requested for viable, net zero aligned projects…’ The revised framework departs from the existing ‘first come, first served’ model for GB grid connections. In its place is a more centrally co-ordinated arrangement that ranks projects by evidential readiness and strategic fit, commonly...

Who insures? Joint insurance From a tenant’s standpoint, the preferred arrangement is for the premises to be insured in the joint names of the landlord and the tenant. For the tenant, the key advantages are: both parties are alerted before the policy comes up for renewal or lapses any insurance proceeds are payable jointly to landlord and tenant, giving the tenant influence over how the funds are applied (and therefore over the reinstatement of the premises) there are no detrimental effects if the landlord enters liquidation before reinstatement is carried out the insurers cannot rely on their right of ‘subrogation’ (see Subrogation below) against the tenant for damage the tenant caused or contributed to Nevertheless, in many cases arranging insurance in joint names will not be practical...

Types of security Under English law, four principal forms of security exist: Mortgage Charge Pledge Lien This Practice Note sets out: the nature of a charge (as contrasted with other security interests) the distinction between a fixed charge and a floating charge the asset classes commonly subjected to fixed charges perfection of fixed charges priority issues when taking a fixed charge The Note mainly centres on fixed charges. Practice Note: Floating charges offers fuller detail on floating charges, including factors to weigh when taking a floating charge, and matters of crystallisation and re-characterisation. Special rules govern agricultural charges; for details, see Practice Note: Agricultural charges under the Agricultural Credits Act 1928. Key takeaways Nature of a charge – it grants the secured creditor an equitable proprietary interest without passing title or possession, setting it apart from mortgages, pledges and liens. Fixed vs floating – a...

Summary A secured creditor enjoys a range of remedies through which it can realise value from its security. Even so, it remains prudent for any such creditor to work through a series of checks before exercising those powers. The secured creditor will, unsurprisingly, be driven by the goal of maximising the prospect of being repaid in full, and will want to be sure that taking enforcement action is the most appropriate means of achieving that aim. Where a decision to proceed is reached, the security holder must then determine which enforcement route offers the most effective and efficient way to meet the overall objective. This Practice Note sets out the main issues that a secured creditor should examine before deciding to enforce its security. is there a workable alternative to enforcement, eg a consensual restructuring of the debt or a voluntary programme of disposals to reduce the debt? is the security entirely valid and sufficiently comprehensive in scope so that the preferred remedy can be...

These guidelines set out practical advice and pointers to support you when working from home. Please also consult our separate Homeworking policy for further detail and reference. Keeping in touch We actively encourage all colleagues to stay in frequent contact with homeworkers, and in particular for managers and the people they supervise to arrange regular catch-ups. These catch-ups should take place regularly by mutual arrangement. The preferred method of contact should be mutually agreed, eg by email, video call and/or telephone. Wherever feasible, please make use of [ insert details of any company-provided messaging software, eg Microsoft Teams, OR available technology ] to hold face-to-face, video-based conversations. Both parties share responsibility for maintaining communication with one another at all times. Reporting sickness or injury Homeworkers must follow our usual sickness absence reporting procedures at all times. Please see our [ insert eg, sickness and attendance policy ]. If you encounter any health and safety issues whilst working at home, you must inform your line manager at...