Recognised transfer meaning

Under an asset purchase, the purchaser takes only the selected assets and assumes only the specific liabilities it opts to accept, as detailed in the asset purchase agreement. After completion, issues highlighted by due diligence may require the purchaser to address environmental, health and safety (EHS) matters. For example, the purchaser might need to transfer or apply for a permit, join a recognised packaging waste compliance scheme, or strengthen health & safety documentation following completion. Typical post-completion EHS actions in asset purchase transactions include the following: transferring environmental permits verifying whether the deal triggers any new duties under environmental regimes, such as producer responsibility, energy efficiency and carbon schemes tackling points raised in environmental audits and reports, and any contractual conditions advising on the scope of environmental insurance and other risk-mitigation strategies putting in place reliance agreements or collateral warranties to allow reliance on environmental reports Transfer of environmental permits In an asset sale, the name of the operator/permit...

This Checklist sets out an overview of the principal legal and practical matters that may call for attention during a transfer of undertakings carried out under SI No 131/2003 European Communities (Protection of Employees on Transfer of Undertakings) Regulations 2003 (Ireland) (SI 131/2003 (IRL) (TUPE Regulations 2003 (IRL)), as amended by the Workplace Relations Act 2015 (Ireland) (WRA 2015 (IRL)). Information and consultation Both the transferor and the transferee alike bear statutory duties in relation to information and consultation before, during, and after the transfer process. The scope of those statutory responsibilities is ultimately fixed by reference to the date of transfer. Up to the transfer date, the transferor remains liable for all statutory obligations concerning information and consultation on the transfer process and the potential impact on employees’ rights linked to their contract of employment. See further Practice Note: Ireland-TUPE-Information and consultation for further details. From the date of transfer onwards, the transferee is liable for any statutory obligations relating to information and consultation in this...

Nimbus: The Disability Consultancy Service Limited v HMRC [2026] UKFTT 38 (TC) The Appellant created and rolled out an ‘Access Card’ to assist disabled people in communicating their access needs to venues and service providers, and to act as recognised proof of those needs. To apply for an Access Card (or a Digital Access Pass), a customer uploads evidence of disability such as confirmation of disability living allowance, personal independence payments, or particular medical information. They also upload photographic identification, for example a driving licence or passport. The Appellant then examines this material to determine access requirements. If the application is approved, an Access Card (or Digital Access Pass) is issued to the successful applicant. The card carries printed symbols indicating the holder’s specific access requirements...

In this issue: Brexit highlights Brexit SIs Post-Brexit transition guidance Public procurement Equality and human rights Constitutional and administrative law Subsidy control and State aid State security and intelligence Other Public Law updates Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Brexit highlights Weekly summary of EU–UK TCA Specialised Committees' publications—8 October 2024. This digest sets out details of documents issued by the Specialised Committees created under the EU–UK Trade and Cooperation Agreement (TCA) covering 2 to 8 October 2024. See: LNB News 08/10/2024 45. Brexit SIs Syria (Sanctions) (Overseas Territories) (Amendment) Order 2024 SI 2024/986: This instrument revises the Syria (Sanctions) (Overseas Territories) Order 2020, SI 2020/1580, reflecting changes to the Syria (Sanctions) (EU Exit) Regulations 2019, SI 2019/792, introduced by the Syria (Sanctions) (EU Exit) (Amendment) (No 2) Regulations 2024, SI 2024/833, concerning sanctions. It is made using...

Financial services developments PRA publishes final policy on recognised exchanges policy and transfer of main indices The Prudential Regulation Authority (PRA) has issued policy statement PS6/26—Recognised exchanges policy and transfer of main indices. The statement delivers feedback on responses to consultation paper CP3/25—Recognised exchanges policy and transfer of main indices, and to the subsequent CP19/25—CRR Definitions: restatement in the PRA Rulebook, but only to the extent these relate to the PRA’s proposals in CP3/25. In addition, PS6/26 sets out the PRA’s final policy position on CP3/25. The appendices to PS6/26 present the PRA’s final policy to CP3/25, namely: PRA Rulebook: CRR Firms: Recognised Exchanges Instrument 2026 (Appendix 1) PRA Rulebook: CRR Firms: (CRR) Amendment Instrument 2026 (Appendix 2) corresponding CRR rules (Appendix 3) This PS also confirms the PRA’s final policy to delete supervisory statement SS20/13—Third country equivalence aspects of the credit risk provisions in the CRR, and recognised exchanges, in its entirety. The implementation date for the PRA’s rules...

Background and introduction to SEPA After the euro was introduced in 11 EU countries in 1999, it became evident that domestic and cross-border retail payment services did not deliver comparable service levels. In September 1999, the European Central Bank (ECB) issued a report on enhancing cross-border retail payment services (the ECB 1999 Report). The report recognised that cross-border credit transfers within the euro area lagged significantly behind domestic credit transfers, even though a single currency environment called for a Single European Payment Area (SEPA). To initiate the debate and send a clear signal to the banking and payment systems industry, the Eurosystem (consisting of the ECB and the national central banks of countries that had adopted the euro) set out seven objectives for the industry to meet: Improved systems/services to be in place by 1 January 2002 Place priority on cross-border credit transfers Substantially lower the price of cross-border credit transfers Ensure settlement times are comparable for domestic and cross-border payments As...

This Practice Note examines the key issues around applications made by dependent partners of individuals on work, investment and study pathways. Most of these routes include provision for dependent partners and children. The principal exceptions are the Youth Mobility Scheme, which permits no dependants at all, and the Student, Graduate and Skilled Worker routes, which impose certain restrictions. For the position in those routes, see Practice Notes: Applying under the Skilled Worker route — Dependants, Applying under the Graduate route and Student: eligibility — Dependants. Partners in this context means: spouses civil partners, and unmarried partners who have lived in a relationship akin to marriage or civil partnership for at least two years — this type of relationship is now termed a ‘durable relationship’ Before their simplification, the rules governing dependent partners and children in these routes were found in Part 8 of the Immigration Rules (for dependants of relevant Points-Based System migrants and Appendix W workers), or in Part 5...

FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: From 2027, stamp duty and SDRT will be replaced by a single, self-assessed tax on securities—the securities transfer charge (STC)—which will be paid and reported via a new online portal. The STC’s features will largely reflect the proposals for that tax set out in the 2023 consultation. Finance Bill 2026 (FB 2026) provides a power, commencing on Royal Assent, to introduce secondary legislation so taxpayers can pilot the digital service by self-assessing their stamp taxes on securities liabilities and submitting transactions electronically. For more on the modernisation of stamp taxes on securities, see: News Analyses: Budget 2025—Tax analysis—Stamp and transfer taxes Tax update spring 2025—Stamp taxes on shares modernisation Tax update spring 2025—Tax analysis—Stamp and transfer taxes TAMD 2023—Stamp taxes on shares modernisation TAMD 2023—consultation—stamp taxes on shares Tax Administration and Maintenance Day—27 April 2023—Stamp and transfer taxes...

ARCHIVED: This Precedent has been archived and is no longer maintained. Provided for background purposes only, it points to international data transfer templates once valid under the United Kingdom General Data Protection Regulation, Assimilated Regulation (EU) 2016/679 (UK GDPR) that have since been replaced. Those templates stopped being acceptable for use as international transfer mechanisms for contracts signed after 21 September 2022, and for all contracts, regardless of signature date, from 21 March 2024. For details of current international data transfer mechanisms recognised under the UK GDPR, see Practice Note: UK GDPR—transfers of personal data internationally and to international organisations. In brief This Precedent links to: a template produced by the UK Information Commissioner's Office (ICO) for the ‘Set II’ or ‘2004’ EU Standard Contractual Clauses (also referred to as the Model Clauses or SCCs), originally adopted by Commission Decision 2004/915/EC of 27 December 2004, and previously used to enable the transfer of personal data from controllers in the EEA to a controller...