Self-dealing rule meaning

ARCHIVED: This checklist is kept for historical reference only. It sets out Part 36 of the CPR as it applied before 6 April 2015. Where you have received a Part 36 offer on or from 6 April 2015, you should consult CPR 36 in force and our Practice Notes, Checklists and Precedents dealing with this, see: Part 36 offers—overview. If you are in receipt of a Part 36 offer that pre-dates 6 April 2015, then the version of the Part 36 rules that was in force before that date applies...

Annulment: payment in full Under section 282 of the Insolvency Act 1986 (IA 1986), a bankrupt may apply to have their bankruptcy annulled where they can discharge in full, and in particular in their entirety, the bankruptcy estate’s costs, expenses and claims, or, alternatively, provide security for those sums, as applicable. This Checklist and timeline sets out the procedure for annulment applications on this basis, identifying each step sequentially after settlement of the estate’s costs, expenses and claims, from payment through to the making of the annulment order, together with the matters that must be addressed once the order has been made, thereafter. It shows the stages in order. This Checklist and timeline does not apply to, or address, applications brought on the alternative ground in IA 1986, s 282(1)(a), namely a contention that the bankruptcy order should not have been made. For a Checklist and timeline dealing with applications on that alternative basis, see: Summary checklist and timeline for annulment applications where bankruptcy order ought not...

Annulment: bankruptcy order ought not to have been made One of the grounds in section 282 of the Insolvency Act 1986 (IA 1986) on which a bankrupt may seek annulment is that the bankruptcy order should not have been made. This Checklist and timeline summarises the procedure for applications brought on that basis, setting out the journey from preparing the application for issue right through to the making of the annulment order, together with matters to be addressed once the order is made. Drafting the application for issue Making of the annulment order Post-order matters to be dealt with This Checklist and timeline does not apply to applications relying on the alternative ground under IA 1986, s 282—where the costs, expenses and claims of the bankruptcy estate are paid in full or secured. For a Checklist and timeline dealing with that alternative, see: Summary checklist and timeline for annulment applications where payment in full—the position under the Insolvency (England and Wales)...

In this issue: Investigating criminal conduct Criminal procedure and evidence Proceeds of crime Bribery, corruption, sanctions and export controls Consumer protection and cartels 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 International Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Investigating criminal conduct Home Office issues guidance on Economic Crime and Corporate Transparency Act The Home Office has released guidance on the information-sharing measures in the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023). It outlines provisions to help ensure businesses comply with the new measures, together with practical points for organisations, including arrangements for cross-sector sharing, obligations for law enforcement reporting, UK General Data Protection Regulation (GDPR) compliance, and customer redress. See: LNB News 04/10/2024 39. Criminal procedure and evidence...

In this issue: Authorisation, approval and supervision Prudential requirements Risk management and controls Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Regulation of derivatives Banks and mutuals Consumer credit, mortgage and home finance Payment services and systems International—financial services and related sectors Fintech and cryptoassets LexTalk®Financial Services: a Lexis®Nexis community Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary Authorisation, approval and supervision HM Treasury issues a policy statement describing its intended approach to the regulation of Appointed Representatives within UK financial services. The paper suggests targeted adjustments to enhance oversight and bolster consumer protection, while preserving the regime’s function in fostering competition and innovation. See: LNB News 11/08/2025 28. The Financial Conduct Authority has updated its Conduct Rules webpage to clarify...

The DMA As the EU’s flagship rule for digital platforms, the DMA seeks to curb the influence of giants such as Apple, Amazon, Google and Microsoft. It lays down obligations around interoperability, default choices and the sharing of data, designed to let business users challenge digital marketplaces. The regime starts on 6 March 2024; and on 15 January 2024, Google adjusted its services to meet the prohibition on merging personal data between distinct platforms...

This Practice Note sets out the core principles, meaning and rationale for privilege. It identifies the main categories and explains how they operate: legal advice privilege and litigation privilege (together, ‘legal professional privilege’ (LPP)) common interest privilege joint privilege public interest immunity (PII) closed material procedures (CMP) It examines the effect of privilege on disclosure and inspection, distinguishes confidential documents from privileged material, and considers who owns the right, how long it lasts, and its impact on case management. Practical tips on handling privilege are also provided. What is privilege? In English law, privilege is a fundamental right enabling a party, or its successors in title, to refuse production of certain documents (see the Court of Appeal decision in Addlesee v Dentons Europe). Where privilege applies, it generally does not remove the duty to disclose that a document exists, but it prevents production of the document to other parties or the court. For further guidance, see Do you...

Termination—contractual and common law rights As commercial solicitors, we are commonly engaged to advise on setting up a commercial relationship. While we, much like family practitioners preparing pre-nuptial agreements, often consider the consequences of a relationship ending, only in more recent economic conditions are we more frequently asked how to unwind the relationship in the first place. It is vital to remember that a right to terminate may arise at common law (for example, for repudiatory breach) as well as under the contract’s express terms. Where an agreement is silent on termination, the courts will, in any dispute, apply common law principles. To minimise uncertainty, parties typically include clear contractual provisions dealing with termination. As a general rule, contractual termination rights are additional to, and not a substitute for, common law rights. In the absence of wording to the contrary, the default assumption is that an express contractual right to terminate does not exclude termination at common law (see, for example, Kulkarni v Gwent Holdings Ltd)...

Pensions disputes are frequently intricate and expensive, drawing in multiple participants, throwing up a wide range of questions and, in the end, dealing with very large sums. The result can bear upon the rights and interests of scheme members. Because many schemes have large memberships, and different groups may have competing interests in the outcome, it is generally impractical to join every member. In practice, representative beneficiaries (‘rep bens’) are used as a procedural and pragmatic device to simplify pensions litigation and are a routine element of most claims. That label can mislead, since individuals who are neither within the represented class nor beneficiaries at all may act in that representative role. This Practice Note addresses the making of representation orders in pensions litigation... What is a representative party? The representative rule originated in the procedure of the Court of Chancery before the Supreme Court of Judicature Act 1873, and is now contained in rules 19.8 and 19.9 of the Civil Procedure Rules (CPR). Note that those provisions...

PART ONE—GENERAL PROVISIONS 1 Definitions and interpretations This Rule sets out the glossary for the Plan and how those terms should be read. Defined expressions cover, among others: Awards and outcomes: Contingent Awards, Restricted Awards, Matched Awards, Options and Cash Awards, together with Date of Grant, Option Price, Exercise Price, Market Value, Dividend Equivalent and the concept of Vesting; People and entities: the Company (acting through the Board or a duly authorised committee, which may include the Remuneration Committee), Eligible Employees, Participants (and their personal representatives), the Group and its Subsidiaries, Associated Companies, the Grantor, the Nominee, the Trustee and Trust, and HMRC; Timeframes and dealing: Financial Year, Dealing Day, Closed Period, Grant Period, Holding Period, Relevant Period and the Plan Period; Shares and schemes: Shares, Employees’ Share Scheme and Company Share Scheme, Invested Shares and Invested Share Amount, and Matched Awards linked to such co‑investment; Legal and tax concepts: Control (as in ITA 2007, s995), ITEPA, Tax liabilities and any...

We take it that both buyer and seller are unconnected third parties, dealing at arm’s length for these purposes; the asset being conveyed is situated in England and Wales; and the effective date is the date of completion. Although the seller might have a charge secured over its interest in the property, that does not automatically mean the sale to the buyer is caught by that charge by itself. Whether it is depends on what the parties agree. As a rule, a transfer is not taken subject to an existing mortgage. The notes below consider a transfer that is subject to a mortgage, and one that is not. Transfer subject to seller’s existing mortgage Where a property is conveyed to a buyer subject to the seller’s subsisting mortgage, the purchaser assumes the seller’s liability...