Priority Date meaning

ARCHIVED This document is archived and no longer maintained. For more recent updates, see Checklists: UK securitisation regime-timeline and EU Securitisation Regulation-timeline. In September 2015, the European Commission unveiled the Action Plan for Capital Markets Union (the Plan). The Plan aims to integrate capital markets across the EU’s Member States, stimulate investment and support growth within the EU. It set out five principal steps to deliver a Capital Markets Union, including strengthening banks’ ability to lend, with a priority on reviving simple, transparent and standardised (STS) European securitisation. On 28 December 2017, Regulation (EU) 2017/2402 (the EU Securitisation Regulation) and the related Securitisation Prudential Regulation (EU) 2017/2401-amending the Capital Requirements Regulation (EU) 575/2013-were published in the Official Journal of the EU. These rules entered into force on 17 January 2018 and have applied directly across the EU from 1 January 2019. They cover securitisation transactions where the securities are entered into on or after that date, and any securitisation that creates new securitisation positions on or after...

This Checklist is applicable for the sale and purchase of a vessel by a company when acting for a corporate buyer and where the ship will be registered in the UK When representing the buyer, the priority is to confirm that the seller’s papers are adequate to deliver good title, secure the vessel’s permanent registration in the UK, and demonstrate that both parties possess the requisite power and authority to conclude the transaction... Request a Transcript of Registry from the UK Ship Register to verify the current registered owner and identify the existing security position affecting the vessel. A fee is payable for this (and several of the other documents noted below), with a full schedule available on the UK Ship Register website. Make the request promptly on receipt of instructions and repeat the search on the closing date... Confirm that any class inspection or other survey specified in the sale contract has been conducted and that the results are satisfactory...

In this issue: Criminal procedure and evidence Proceeds of crime Appeal and judicial review Sentencing Bribery, corruption, sanctions and export controls Cybercrime and data protection offences Environmental offences Financial services and pensions offences Food safety and hygiene offences Fraud, forgery, tax and theft offences Health and safety and corporate manslaughter offences Local authority prosecutions Money laundering International LexTalk®Corporate Crime: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Criminal procedure and evidence Court delays soar as backlogs break records Between April and June 2025, the criminal courts in England and Wales amassed an unprecedented caseload of almost 440,000, with incoming matters exceeding disposals and a system hampered by long-standing funding shortfalls. In response, the Ministry of Justice (MOJ), together with The Rt Hon David Lammy MP, confirmed extra resources to accelerate outcomes for...

The CLLS has issued an updated 2024 version of its Letter of Intent (CLLS LOI), accompanied by associated guidance notes. In this analysis, we set out and assess the amendments that have been made. The prior iteration, dating from 2007, required several tweaks to bring it into line with developments in law—most notably the Construction (Design and Management) Regulations, which in 2015 superseded the 1994 regime cited in the 2007 CLLS LOI—as well as a change to the relevant clause reference concerning the insurance provisions within the JCT contracts released in 2011, 2016 and 2024. In addition to these updates driven by changes in law, the CLLS LOI has been refreshed in a range of other respects, which are explained in more detail below. Those textual and regulatory updates sit alongside broader drafting refinements. CDM Regulations and Building Regulations The 2007 CLLS LOI included an optional paragraph 12 requiring the Contractor (where that clause was adopted) to act as a designer, planning supervisor (subsequently replaced by the CDM...

On 19 December 2023, the government issued its long‑awaited reply to the consultation on national planning policy reform alongside the updated NPPF, confirming that the changes answer concerns raised by locally elected members about weaknesses in the planning system. The update offers firmer Green Belt protections, clearer guidance on assessing future housing supply in plans, certainty that urban authorities must play their full role in meeting housing need, and safeguards for the character of valued neighbourhoods by preserving the gentle density of suburbs and ensuring family homes remain for the next generation. Taken with other provisions in the Levelling Up and Regeneration Act, the revisions cement the importance of beauty in new development, enable better infrastructure delivery, respect the democratic voice of local communities, secure improvements to the natural environment and create quality new neighbourhoods. Key changes Purpose The NPPF’s stated purpose continues to be to provide a framework through which locally prepared development plans can deliver ‘sufficient’ housing and other development. It now also confirms that...

This Practice Note outlines the principal issues to take into account when altering an existing facility agreement. It covers: typical drivers and rationales for changing a facility agreement key considerations when amending a facility agreement in the context of a bilateral or syndicated transaction matters to address where guarantees or security are in place ways to document an amendment, including whether to use an amendment letter, an amendment agreement, or an amendment and restatement agreement usual conditions precedent to effectiveness points concerning fees, costs and expenses This Practice Note does not address one-off waivers and consents. For further information on waivers and consents, see Practice Note: Waivers and consents. For material on amending security documents, see Practice Note: Amending security documents. For general contract law guidance on varying a contract, see Practice Note: Contract variation. Common reasons for amending a facility agreement After execution of the facility agreement and once funding has taken place, the borrower’s situation...

Applying to register a trade mark at the UK Intellectual Property Office (IPO) This Practice Note sets out guidance on seeking registration of a trade mark at the UK Intellectual Property Office (IPO) and the steps involved. It addresses matters such as carrying out searches before filing, the three‑phase application procedure, preparing and submitting the application, application fees payable, filing dates, claiming priority, classification of goods and services, the IPO’s search and examination, eligibility of the mark or sign, absolute and relative grounds for refusal, examiner’s objections, and publication of the application. It summarises the relevant provisions of the Trade Marks Act 1994 (TMA 1994). Registration of a trade mark confers on the proprietor the exclusive right to prevent others from using that mark without permission. Anyone—individual or company—intending to use a name or brand for particular goods or services ought to apply to register that mark to obtain maximum protection. For more on infringement of registered trade marks, see Practice Note: Trade mark infringement—UK. Protection of unregistered signs...

STOP PRESS The Financial Services and Markets Act 2023 (FSMA 2023) revokes the 2004 Regulations (SI 2004/353) with effect from a date still to be appointed, alongside a range of other EU‑derived legislation. The government does not intend to begin revoking individual EU‑derived instruments and provisions unless the regulators have prepared and consulted on rules that are ready for enforcement, and only where it is appropriate that the provisions are replaced with rules. FSMA 2023 also updated the UK’s insolvency regime for insurers, both to clarify certain points and to widen the protections available to an insurer and its policyholders undergoing insolvency or write‑down procedures—the government consulted on these measures in 2021, and published its response in April 2022 (see News Analysis: Financial Services and Markets Bill sets out post‑Brexit framework for UK financial services, and LNB News 07/04/2022 78). The Prudential Regulation Authority (PRA) issued consultation paper CP3/23 on insurers in financial difficulty, setting out its proposed rules and policy in respect of those changes introduced (see: LNB...

This Agreement is entered into on [ insert date ] (the Commencement Date) by and between: Parties [ insert supplier name ], a company incorporated in England and Wales, whose registered number is [ insert company number ] and whose registered office is at [ insert registered office ] (Supplier); and [ insert customer name ], a company incorporated in England and Wales, whose registered number is [ insert company number ] and whose registered office is at [ insert registered office ] (Customer). Each of the Supplier and the Customer is a party, and together the Supplier and the Customer are the parties. Background The Supplier is [ an experienced software developer and ] [ insert the Supplier’s background details and the background to the relevant transaction ]. The Customer is [ insert the Customer’s background details ]. Subject to this Agreement, the Supplier shall develop software for the Customer and will licence (or arrange...

This Agreement is entered into on [ insert date ] (the Commencement Date) between the following: Parties [ insert supplier name ], a company incorporated in England and Wales with registered number [ insert company number ] and whose registered office is at [ insert registered office ] (the Supplier); and [ insert customer name ], a company incorporated in England and Wales with registered number [ insert company number ] and whose registered office is at [ insert registered office ] (the Customer), each of the Supplier and the Customer being a party, and together the Supplier and the Customer being the parties. Background (A) The Supplier is [ an experienced developer of mobile applications and ] [ insert the Supplier’s background details and the background to the relevant transaction ]. (B) The Customer is [ insert the Customer’s background details ]. (C) The Supplier intends to develop the Mobile App (as defined below), and the Customer...

Claim No : [ insert claim number ] IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS OF ENGLAND & WALESINTELLECTUAL PROPERTY LIST (ChD)[ Patents Court OR Intellectual Property Enterprise Court ] Between:[ insert name ] Claimant/Part 20 Defendantand[ insert name ] First Defendant/Part 20 Claimant[ insert name ] Second Defendant/Part 20 Claimant Grounds of invalidity Set out below are the Grounds of Invalidity for [ GB Patent OR European Patent (UK) ] [ number ] (the Patent), as identified in the Defence and Counterclaim accompanying these Grounds, and on which the Defendants/Part 20 Claimants intend to rely. The purported invention, in all claims of the Patent, is not patentable because its subject matter lacked novelty in view of the state of the art at the Patent’s priority date [ and common general knowledge ]...