Schedule of Amendments meaning

Timeline—developments from 1 January 2024 onwards This timeline charts UK-focused changes to the anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing (CPF) legal and regulatory frameworks affecting financial services firms. It captures the evolution and implementation record of the UK AML, CTF and CPF legislative landscape, including updates to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs), together with AML/CTF-related outputs from HM Treasury (HMT), the Financial Conduct Authority (FCA) and the Joint Money Laundering Steering Group (JMLSG). It further reflects supranational AML/CTF/CPF activity from the Financial Action Task Force (FATF), Basel Committee on Banking Supervision (BCBS), International Association of Insurance Supervisors (IAIS), International Organisation of Securities Commissions (IOSCO), the Egmont Group of Financial Intelligence Units (FIUs) and the Wolfsberg Group. A schedule of forthcoming dates is available in: Key dates for Financial Services—horizon scanner. For earlier developments up to 31 December 2023, see: AML/CTF legal and regulatory regimes for financial services firms—timeline to 31 December 2023 [Archived]...

Within a JCT contract, the Agreement, Recitals, Articles and Contract Particulars at the outset record the project-specific particulars of the works to be undertaken. It is crucial these sections are completed in full and accurately, to prevent uncertainty and disagreements over the scope. This Checklist offers practical steps for filling in those particulars, with links to pertinent Practice Notes that explain each area in depth. It is intended for users who are relatively new to JCT contracting. Commonly, an employer asks the architect/contract administrator or another consultant to draft the particulars at the outset, then has its lawyer review the contract prior to execution. Alternatively, a lawyer may complete all entries, but will require the client’s or consultants’ input on the information to include. The Checklist can serve as a reference when preparing or verifying the particulars. Accurate completion from the outset reduces ambiguity about what is required and helps prevent disputes. It also serves as reference when checking particulars. Guidance here shows how to complete required information, supported by...

Use this checklist when finalising a building contract for signature. It is intended to reduce mistakes when assembling or reviewing construction documents before the parties sign and the process is completed. Consistency with other documents From the outset, coordinate with the professional team member preparing the contract documentation—for example, the Preliminaries and Employer’s Requirements—to confirm they align with the schedule of amendments and faithfully express, and accurately record, the parties’ intentions. Early engagement helps prevent inconsistencies between these documents and the agreed amendments. For more on drafting a building contract, see: Drafting a building contract/schedule of amendments—checklist. Details of the parties Provide full particulars for every contracting party—the complete company name and address, together with the registered company number (if applicable), as company names may change in future. Confirm the particulars are correct at Companies House (where relevant)...

In this issue: Electricity and gas market regulation and licensing Networks and network connections Capacity Market, balancing services and energy system flexibility Oil and gas Air emissions, efficiency, and climate change International energy Daily and weekly news alerts New and updated content Dates for your diary Trackers Electricity and gas market regulation and licensing DESNZ publishes Secretary of State’s designation of energy codes and central systems DESNZ has released a designation notice from Secretary of State for Energy Security and Net Zero, Ed Miliband, setting his decision to designate specified energy codes and central systems as qualifying documents and central systems for the purposes of Schedule 12 to the Energy Act 2023. This designation enables Ofgem to use its transitional powers to deliver reform of energy code governance. See: LNB News 29/01/2025 44...

In this issue: Budgets and Finance Bills Companies and corporation tax Brexit and tax Real estate tax Individuals and income tax Stamp and transfer taxes VAT Daily and weekly news alerts New and updated content Dates for your diary Trackers New Q&As Useful information Budgets and Finance Bills King’s Speech 2024 His Majesty the King outlined the government’s priorities, agenda and intended measures for the forthcoming parliamentary session during the State Opening of Parliament on 17 July 2024. Initial reactions from the Private Client community to the announcements have been collated. See: LNB News 17/07/2024 92. CIOT letter to the new Exchequer Secretary to the Treasury The CIOT has written to the incoming Exchequer Secretary to the Treasury, James Murray MP, setting out tax matters for the new administration. See: LNB News 17/07/2024 22. Companies and corporation tax Supreme Court finds advisers’ fees were capital in...

In this issue: Arbitration in England & Wales International Arbitration Investment treaty arbitration Institutional and ad hoc arbitration Daily and weekly news alerts New and updated content Arbitration in England & Wales Arbitration Bill reaches Committee Stage The Arbitration Bill entered the House of Lords’ Committee Stage on 11 September 2024. It has been scrutinised clause by clause, with potential changes capable of being adopted. A marshalled schedule of proposed amendments has also been compiled. See: LNB News 11/09/2024 53. Law Society publishes report hailing England and Wales as world's legal centre The Law Society’s International Data Insights Report concludes that England and Wales sit at the global heart of arbitration and commercial dispute resolution. Per the report, English law governs trillions of pounds in cross-border contracts and transactions. The London Commercial Court issues more written judgments annually than the leading commercial courts of other jurisdictions. See: LNB News 11/09/2024 40. International Arbitration ...

Forthcoming change: Sections 6–7 of the Finance Act 2026 provide that, with effect from 6 April 2027, an individual’s property income will be subject to income tax at the property basic rate of 22%, the property higher rate of 42%, and the property additional rate of 47% for a given tax year. A person’s property income is treated as the highest portion of their income, save where they also have savings and/or dividend income. Where savings and/or dividend income arises, the property income is taken to be the portion of the person’s income that falls immediately before the savings and/or dividend income. FA 2026, Schedule 1, makes consequential amendments to ITA 2007. For these purposes, property income means income that is: chargeable under Chapter 3 of Part 3 of ITTOIA 2005 (profits of a UK property business or an overseas property business) chargeable under Chapter 7 of that Part chargeable under Chapter 8 of that Part chargeable under Chapter 9...

This Practice Note addresses the arbitration procedure under the 2023 Arbitration Rules of the Stockholm Chamber of Commerce (SCC) Arbitration Institute. The institution has adopted the name ‘Stockholm Chamber of Commerce (SCC) Arbitration Institute.’ The 2023 SCC Rules govern arbitrations filed with the SCC on or after 1 January 2023, unless the parties agree otherwise. A revised SCC Schedule of Costs applies to 2024 SCC arbitrations; see here. The SCC Arbitration Institute The SCC ranks among the most widely recognised arbitral bodies globally. As with peer institutions, it administers the resolution of disputes through arbitration. It does not adjudicate cases itself; decisions are made by arbitrators appointed in accordance with the SCC Arbitration Rules. The organisation comprises a Secretariat, led by the Secretary‑General, and an international Board of prominent arbitration practitioners, which convenes monthly to take administrative decisions. The SCC is especially noted worldwide for ‘east‑west’ cases. Each year roughly 150–200 new arbitrations are initiated at the SCC, involving parties from more than 40 countries. Disputed sums...

Montreal Protocol on Substances that Deplete the Ozone Layer 1987. Protocol to the Vienna Convention for the Protection of the Ozone Layer 1985 (1985 Vienna Convention) Parties: Universally ratified—the first United Nations (UN) treaty to achieve global application. Location: Montreal, Canada. In force: 1 January 1989. Subject: safeguarding the ozone layer. Revisions Adjustments: 1991, 1992, 1993, 1995, 1996, 1997, 1998, 1999, 2000, 2007 and 2018 Amendments: London 1990, Copenhagen 1992, Montreal 1997, Beijing 1999 and Kigali 2016 What is the Montreal Protocol? The Montreal Protocol operates under the 1985 Vienna Convention, a framework agreement, and is designed to: limit actions that are liable to harm the ozone layer promote cooperation in collecting and sharing information on how human activities affect the ozone layer It establishes a clear schedule to phase out and ultimately eliminate the manufacture and use of substances that deplete the ozone layer...

This Agreement, dated [ • ] 20[ • ], is entered into between the following parties: Parties [ insert name of Borrower ], a company incorporated in England and Wales with registered number [ insert company number ], whose registered office is at [ insert address ] (the Borrower); and [ insert name of Lender ] of [ insert address ] (the Lender). Background (A) [ insert description of background to transaction ]. (B) The Lender has agreed to provide the Facility (as defined below) to the Borrower on the terms and conditions contained in this Agreement...

Agreement concerning [ insert brief details of the works/project ] at [ insert address of works ] (incorporating, among other things, the JCT Standard Building Sub-Contract Agreement 2024 (SBCSub/A 2024) and the JCT Standard Building Sub-Contract Conditions 2024 (SBCSub/C 2024), each as amended and supplemented as set out in this Agreement and in the Schedules to it). This Agreement is dated the [ insert number ] day of [ insert month ] 20[ insert year ] Parties [ insert name of the Contractor ] (company registration number [ insert number ]), whose registered office is at [ insert address of the Contractor ] (“the Contractor”) [ insert name of the Sub-Contractor ] (company registration number [ insert number ]), whose registered office is at [ insert address of the Sub-Contractor ] (“the Sub-Contractor”) Now it is agreed that: 1 Interpretation In this Agreement, words and expressions carry the meanings respectively attributed to them in the JCT SBCSub/A 2024 and...

The Contract comprises the completed Standard Building Contract Without Quantities for use in Scotland 2016 published by the SBCC subject to the following amendments: Recitals and Articles updated: contractor to provide a master programme and Schedule of Information Requirements; CDP responsibility accepted; Principal Contractor duties priced; arbitration deleted; Schedule of Amendments prevails; Third Party Agreements duties. Contract Particulars: arbitration entries removed; Rectification Period set at 12 months; fluctuations and certain PII/guarantee entries deleted. Conditions: key definitions revised (Practical Completion, Copyright Material, Design sub‑contractors, Funder, Site); Scottish jurisdiction; approvals mean principles only; entire agreement; variations in writing. Design/materials/programming: contractor accepts ER/CP; quality and non‑deleterious materials; programme reporting; site risk; drawings/info supply; tighter discrepancy notices. Time/defects: mitigate and advise on delay; narrower Relevant Events; Practical Completion clarified; stronger rectification, consequential damage and indemnity; phased as‑built/occupation information. IP/confidentiality/BIM: broader licence, moral rights waivers and delivery; confidentiality reinforced; BIM where adopted. Management/sub‑contracting: access, approved Site Manager, meetings; prescribed sub‑contracts; collateral warranties/third‑party rights; CDM duties; insurance...

On 19 June 2020, the version of section 21 of the Housing Act 1988 (HA 1988) in force allowed the court to make a possession order for a dwelling house once satisfied that the tenant had been duly served with three months’ written notice. This was because paragraph 7 of Schedule 29 to the Coronavirus Act 2020 (CA 2020) substitutes within HA 1988, s 21 the wording ‘three months’ for the usual ‘two months’. The prescribed form for a section 21 notice is found in the Assured Tenancies and Agricultural Occupancies (Forms) (England) Regulations 2015, SI 2015/620, Schedule, designated as form 6A...

A disabled person’s trust A disabled person’s trust benefits from distinctive inheritance tax (IHT) treatment. To access this favourable regime, certain qualifying requirements must be satisfied. Specifically, the trust must be one of the forms authorised by section 89 of the Inheritance Tax Act 1984 (IHTA 1984), taking account of subsequent amendments to IHTA 1984, and there must be a qualifying disabled beneficiary. For IHTA 1984 purposes, the criteria a beneficiary must satisfy to be treated as a disabled person are set out in IHTA 1984, s 89(4A), together with Schedule 1A to the Finance Act 2005 (FA 2005), which prescribe the relevant tests and definitions...