Prospective member meaning

This checklist sets out the requirements for the content of schemes’ annual reports and accounts under the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013, SI 2013/2734. For fuller guidance on the duty on occupational pension schemes to produce annual reports and accounts, see Practice Note: Pension scheme annual reports and accounts. Requirement to prepare and disclose a pension scheme annual report Trustees of an occupational pension scheme meeting the conditions in the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013, SI 2013/2734, Sch 1, Para 1 must produce an annual report no later than seven months following the close of each scheme year. For further details, see: Disclosure requirements for occupational and personal pension schemes—the 2013 disclosure regulations—Scope of the 2013 Disclosure Regulations. The annual report must be provided to any relevant person (that is, a member, prospective member, their spouse or civil partner, a beneficiary or a recognised trade union) who: requests the document within five years...

ARCHIVED: This Checklist is archived and no longer maintained. CORONAVIRUS (COVID-19) Numerous arbitral organisations have addressed the coronavirus pandemic by issuing practical guidance and adjusting standard procedures and ways of working. To understand how this content and related arbitration proceedings might be affected, see Practice Note: Arbitral organisations and coronavirus (COVID-19)—practical impact [Archived] [Archived]. For further information, see: Coronavirus (COVID-19) and arbitration—overview. HKIAC’s Administered Arbitration Rules are widely adopted institutional rules, administered by HKIAC in Hong Kong, and applied globally. This Checklist outlines the arbitration process under the 2013 HKIAC Rules. For guidance on the 2018 HKIAC Rules, refer to the ‘Related documents’. Preliminary steps Determine the available claims and any counterclaims. Assess the scope of the arbitration clause and whether those claims and counterclaims can be resolved by arbitration. Select your preferred arbitrator, either for sole appointment or as your party nominee on a three-member tribunal. Note any prospective limitation issues. ...

In its 25 March draft regulatory technical standards, ESMA set out essential guidance on the data that must be submitted to national competent authorities (NCAs), which will oversee the vetting of proposed acquisitions of a qualifying holding in relevant CASPs. By way of context, MiCA establishes a harmonised authorisation regime for running a CASP across the European Union and for accessing the EU passport. The overarching aim is to foster fair competition among CASPs and a more secure landscape for crypto-asset investors by verifying the robustness and reliability of authorised service providers, together with their leadership and shareholders, regardless of the member state that granted authorisation. Thereafter, any subsequent alteration to the governance or ownership of an authorised CASP stemming from a merger or acquisition must undergo prior scrutiny by the NCA supervising the target. This review is poised to materially influence how future M&A deals involving a CASP are structured, turning sound foresight and comprehension of the assessment criteria into a central task. Against this backdrop, a close examination...

Here are five cases to watch over the next year. NextEra Energy v Spain, 9REN Holding v Spain and Blasket Renewable Investments v Spain In August 2024, the DC Circuit ruled that about US$377m in arbitral awards against Spain are enforceable, even though they are treated as invalid under EU law. The stage is therefore set for a possible US Supreme Court clash in 2025, which EU investors will monitor closely. Whatever the justices determine will have wide-reaching implications, as courts within the EU continue to decline enforcement of intra-EU awards like those in these disputes. The DC Circuit also found that US district courts hold jurisdiction to enforce awards issued against Spain stemming from the rollback of economic incentives for renewable energy projects. Its ruling bears on enforcement not only of these particular awards, but also of over a dozen other outstanding awards against Spain, together with any other past and prospective arbitral awards granted to EU investors against EU member states...

In this issue: Sustainable finance and ESG round-up Aviation finance Sustainable finance Debt capital markets Derivatives Securitisation and structured products Regulation for banking lawyers Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG round-up For this week’s highlights in Sustainable finance and ESG, see: Sustainable finance and ESG weekly round–up—10 October 2024. Aviation finance AerCap contests insurers over stranded aircraft as trial opens There is ‘no scope’ for leading insurers to reject billion-dollar claims for aircraft taken by Russian airlines, lawyers for major lessor AerCap told the High Court on 2 October 2024, on the first day of proceedings expected to act as a test case for other claims. For more details, see News Analysis: AerCap battles insurers over stranded jets as trial begins. Putin aided airlines’ survival, insurers contend in stranded jets trial The Russian Government did not direct the country’s private...

Employers are legally obliged to consult with members, or their representatives, for a minimum of 60 days before introducing a “listed change” to occupational or personal pension schemes. What amounts to a “listed change” is defined in the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006, SI 2006/349 (the Pension Consultation Regs). For wider considerations that may arise when amending an occupational pension scheme, see Practice Note: Amendment of occupational pension schemes—employer and trustee considerations. Statutory framework for the pension consultation requirements The consultation duty took effect on 6 April 2006. Its operative provisions are contained in: sections 259–261 of the Pensions Act 2004 (PeA 2004), and Pension Consultation Regs, SI 2006/349 In April 2010, the DWP published guidance to assist employers in complying with the consultation duty. The guidance recommends good practice but has no legal status. Although now archived, it may still help employers to meet their obligations under the Pension Consultation Regs, SI...

Before any nuclear power station proceeds to construction, its design is scrutinised to establish whether the social, economic, or other prospective gains genuinely outweigh the health hazards or any other detriments linked to exposure to ionising radiation. This formal appraisal is referred to as ‘regulatory justification’. Brexit impact—Euratom and the UK Nuclear Sector As at 31 January 2020 (exit day), the UK ceased to be an EU Member State. At exactly 11 pm (GMT) on 31 December 2020, the Brexit transition/implementation period drew to a close. From that point (termed ‘IP completion day’ in UK legislation), key transitional measures came to an end and significant changes began to take effect across the UK’s legal framework. Departure from the EU likewise meant leaving Euratom. On 24 December 2020, the UK government confirmed it had reached agreement on the EU‑UK Trade and Co‑operation Agreement (TCA), accompanied by a range of associated declarations and agreements, including a separate Nuclear Co‑operation Agreement (NCA) with the EU/Euratom. It also contains several placeholders and...

FORTHCOMING CHANGE relating to the future withdrawal of DST : Following OECD-led talks culminating in a political accord on the two-pillar solution in October 2021, the UK reached an arrangement with the US, Austria, France, Spain and Italy to move away from the DST towards the new global tax framework, using a transitional DST credit mechanism. Under this arrangement, the UK would retain all DST receipts until Pillar One becomes operational and, once Pillar One applies, companies could offset against future UK corporation tax the difference between DST paid from January 2022 and the amount that would have been due had Pillar One applied instead, as credit against their future UK corporation tax bill. In exchange, the US—regarding digital services taxes as discriminatory towards US businesses—agreed to withdraw proposed retaliatory tariffs on certain US imports from the other five countries, and pledged to refrain from further trade measures against them over their digital services taxes for the length of the interim period. This understanding was prolonged by all six...

1 Introduction 1.1 We regard the safeguarding of confidentiality and information security as of utmost importance across the organisation at all times. 1.2 This policy aims to: 1.2.1 guard against possible confidentiality breaches and lapses in the integrity or availability of information; 1.2.2 ensure our information assets and IT resources are shielded from damage, loss, or misuse; 1.2.3 reinforce our data protection policy by making certain all staff know and follow relevant law and our internal procedures governing the processing of personal data; 1.2.4 raise firm-wide awareness and understanding of information security requirements and the duty of staff to safeguard the information they handle. 2 Roles and responsibilities 2.1 Information security is relevant to every member of staff. Nevertheless, the [ state who ] holds overall accountability for the firm’s information management and security matters, which includes: 2.1.1 overseeing and applying this policy; 2.1.2 tracking prospective and confirmed security breaches; 2.1.3 ensuring staff...

This Precedent is a formal declaration of identity relating to a site benefitting from planning permission. Its purpose is to assure any prospective purchaser or mortgagee of the following matters: the planning permission lies wholly within the recognised boundaries of the development site the entirety of the development site falls within the vendor’s or mortgagor’s registered title the site possesses all necessary accesses and services to the property to enable completion of the development; and the site enjoys all rights of access and service connections required for the completed scheme A suitably qualified architect or engineer may provide the declaration. A draft should first be sent to the deponent for approval before it is supplied to the mortgagee or purchaser. It should then be submitted to the mortgagee/purchaser for approval; however, once the foregoing points are properly addressed in drafting, no material amendment ought to be required or accepted. STATUTORY DECLARATION OF IDENTITY I, [ insert name of deponent...

An unincorporated association is not a legal entity In principle, it lacks legal personality and therefore cannot bring or face proceedings in its own name; this was the stance in London Association for Protection of Trade v Greenlands Limited. The position was examined in detail in Chancellor, Masters and Scholars of the University of Oxford v Broughton, a matter arising from a campaign by the Animal Liberation Front and related bodies. The conventional course is to seek a representation order, allowing a named member or office-holder to be joined as a party ‘on behalf of the members of the association’. Yet time pressures—particularly an approaching limitation deadline—may make obtaining such an order impracticable, prompting a prospective claimant to ask whether the association can be joined in its own name. As recorded in University of Oxford, there have been instances where the court has in fact made orders directly against an association. Several first‑instance rulings placed before the court show orders made against protest groups which have been...