Short meaning

Non-controlling minority shareholdings This Checklist identifies the jurisdictions worldwide where acquisitions of non‑controlling minority shareholdings must be notified, provided the other jurisdictional thresholds are satisfied. In this context, ‘non‑controlling minority shareholdings’ means any degree of influence falling short of what the EU Merger Regulation terms ‘decisive influence’—namely, the capacity to exercise a significant level of control over an undertaking’s strategic commercial behaviour. That influence can be exercised through a variety of routes, including share ownership, voting rights (in particular, veto rights), or contractual arrangements, and does not necessarily involve holding a majority shareholding...

This flowchart outlines the steps an employer should take once a performance or capability concern is identified, including collecting key documents such as the contract of employment and appraisal records, considering mediation, appointing who will carry out performance monitoring, arranging informal and then formal meetings, deciding on dismissal or another sanction, and overseeing the appeal stage. Click below to view or print the full-size PDF version: Note 1—identifying whether there is a performance issue If an employee’s output falls short of the required standard, the employer may choose to address it under its performance procedure. For an example procedure, see Precedent: Policy and procedure—performance and capability. A clear distinction should be drawn between misconduct and underperformance. Where conduct is the concern, a disciplinary process is the correct route—see Practice Note: Managing performance—Dealing with poor performance. Before commencing any formal action, review the terms of the employer’s performance procedure and check, for example, whether specific time periods are required between each stage...

Flowchart This Flowchart assists in identifying and selecting which Precedent agreement for the supply of services is best suited for use in a particular situation or circumstance. An at-a-glance table likewise summarises the principal underlying drafting assumptions for each of the Precedent agreements, providing an alternative means of deciding the most appropriate Precedent to deploy in any given situation or context. Only business-to-business (B2B) Precedent options are addressed by the Flowchart together with the accompanying table...

This flowchart shows how to determine whether you need to carry out a data protection impact assessment (DPIA) for a specific project, and the steps to complete one if required. It also outlines post‑DPIA tasks, including weaving the DPIA’s findings into your project plan and keeping the assessment under review. See also Precedents: Data protection impact assessment—DPIA and Data protection impact assessment—DPIA—short form, which draws on a template issued by the Information Commissioner’s Office (ICO). The ICO’s comprehensive Data Protection Impact Assessments guidance sets out seven steps to running a DPIA. This flowchart is designed to cover those seven stages, and it also mirrors the ICO’s expectations for post‑DPIA activity, namely: integrating the outcomes of your DPIA into your project plans, and monitoring the ongoing performance of the DPIA Note 1: Identify the need for a DPIA If you have a data protection officer (DPO), seek their advice. For further information, see Practice Note: How to complete a data protection impact...

ARCHIVED: This Flowchart, now archived, outlines the key enquiries to consider when assessing international jurisdiction in employment matters—namely the possible fora for bringing claims and both the appropriate courts and/or tribunals to hear them—where proceedings were instituted on or before the IP completion day (11pm on 31 December 2020). For further detailed guidance on the impact of IP completion day, consult Practice Note: International jurisdiction—allocating employment cases between national courts and tribunals pre-1 January 2021 [Archived]—Brexit impact. For more general guidance on determining jurisdiction, see the Practice Note: International jurisdiction—allocating employment cases between national courts and tribunals pre-1 January 2021 [Archived]...

Overriding principles The DMCC’s core requirement is that a product’s “total price” must be shown prominently in every invitation to purchase (ITP). (For what constitutes an ITP, see here.) The total price covers all amounts the consumer will inevitably pay, which therefore includes any compulsory delivery charges. There is a limited DMCC exception. Where, owing to the nature of the product, a compulsory delivery charge cannot reasonably be worked out in advance, every ITP must explain how that charge will be calculated. This explanation must appear with the same prominence as the total price and must enable the consumer to determine the overall cost. Typically, equal prominence means placing this information beside or immediately below the total price. Before relying on this carve‑out, traders should be satisfied that the compulsory delivery charge genuinely cannot be calculated beforehand. The CMA has indicated that the exception will be applied narrowly...

Re: Z (Prohibition on Cross-examination: No QLR) [2024] EWFC 22, [2024] All ER (D) 99 (Feb) What are the practical implications of this case? A succinct restatement of the statutory framework governing the appointment of a QLR appears at paras [4]–[20] of the judgment, providing a handy overview for deciding if a QLR is required. In day-to-day practice, however, QLRs are in short supply—principally because the available remuneration is limited—so securing one is often unlikely, as occurred here. Where no QLR can be identified, the court must work through all feasible alternatives. If those options are exhausted, a judge may conclude that, in the interests of justice, they must assume the QLR role. Where a judge or magistrate steps into that position, careful wording is essential: the court should not be described as cross-examining a party, but rather as ‘asking questions that the other party wishes to have asked or a similar phrase’ (para [35])...

Representation of Zedra Trust Company (Suisse) SA re C and D Trusts [2023] JRC 213 What are the practical implications of this case Although resolved on its own facts, the court offered broadly useful guidance for trustees managing dynastic trusts intended to support multiple generations. As a family’s philosophy evolves, trustees should assess whether the trust still embodies that shift and, if not, consider whether substantive modifications are required. The ruling will interest practitioners as it confronts public policy and human rights considerations within the framework of trust deed provisions and settlors’ expressed wishes. It underlines that letters of wishes are not binding on trustees, and certainly not on the court, and demonstrates judicial backing for a trustee departing from a settlor’s clear wishes to prevent family discord, here arising from the exclusion of the female line from benefitting from the Trusts. In short, the decision encourages trustees of long‑running family trusts to think carefully about alignment with changing family...

This Practice Note examines core aspects of the UK framework for money market funds (MMFs) that stems from Regulation (EU) 2017/1131 (the EU MMF Regulation). It also looks at suggested changes to the framework, with the Financial Conduct Authority (FCA), HM Treasury and the Bank of England (BoE) working jointly to bolster its resilience and align it with post‑Brexit regulatory objectives. For background on the EU MMF Regulation, see Practice Note: EU MMF Regulation—essentials. What is an MMF? Money market funds (MMFs) are investment funds that invest in short‑term debt instruments and so play a significant role in the short‑term financing of the economy. In particular, MMFs are open‑ended, liquid investment funds that invest in fixed income through short‑term debt, for example money market instruments issued by banks, governments or companies (including treasury bills, commercial paper and certificates of deposit) which pay interest. They therefore form an important connection between demand for, and the supply of, short‑term debt. Further information on the eligible assets of an MMF is...

ARCHIVED: This Practice Note is archived and not kept up to date. Practical implications of West Tankers In short, the current position arising from the West Tankers saga (so far) is: Any EU Member State court seised of proceedings must rule on its own jurisdiction to determine the dispute. Under Brussels I and Brussels I (recast), courts of another Member State cannot remove that competence from it. An arbitral tribunal has jurisdiction to award damages for breach of an obligation to arbitrate. Where jurisdiction is disputed (as it often is), consider advising clients to obtain a standalone final award addressing jurisdiction at the outset, and then seek to have it recognised and enforced by the court (the application would be made under the procedure set out in CPR 62). This should prevent a conflicting court judgment taking precedence, on the basis of issue estoppel. Thereafter, the parties can proceed to the liability and quantum issues within the arbitration. West Tankers—the...

Follow the link below to download the presentation. Contents Updates to APR/BPR Transfer between spouses Reasons asset targeting falls short APR/BPR trust clause Funding the trust Case study Case study solution Anti‑fragmentation Administration checklist Client communications Pitfalls and risks Summary These PowerPoint slides are designed as a foundation for a training session on Agricultural and Business Property Relief for the relevant fee earners. The presenter can tailor them—by trimming or expanding the points—to match the audience. How to use these slides Allow around two minutes per slide, and use the case study for a 20‑minute breakout. If more depth is required, the content can be delivered over two or three separate training sessions. Further reading Autumn Budget 2024—Private Client analysis Hot topic—the reform of business property relief and agricultural property relief Change in the approach to IHT planning for farmers Tax—Finance Act 2026...

This Agreement is entered into on [ date ] Parties [ Insert name of party ] [ of OR a company incorporated in England and Wales under number [ insert registered number ] with its registered office at ] [ insert address ] (Party 1); and [ Insert name of party ] [ of OR a company incorporated in England and Wales under number [ insert registered number ] with its registered office at ] [ insert address ] (Party 2), each of Party 1 and Party 2 being a party and, together, the parties. BACKGROUND Party 1 supplies [ insert description of goods and/or services ]. Party 2 supplies [ insert description of goods and/or services ]. The parties intend to submit a Bid as a joint tender to the Customer in answer to the Invitation to Tender. The parties seek to state their obligations and manage their rights concerning the Bid and, if the...

Legal professional privilege (LPP) is a core legal protection that permits [ insert organisation’s name ] to resist producing evidence to a third party or the court. It enables the organisation to seek expert legal guidance, setting out all pertinent facts to our legal advisers without concern that they will later be revealed and used against us. This short guide sets out what legal professional privilege (LPP) is and how we can best preserve it. 1 What is legal professional privilege? LPP is an umbrella term covering: legal advice privilege (LAP) litigation privilege LPP safeguards the confidentiality of written and verbal communications between lawyers and clients. It is a fundamental entitlement, allowing a party to withhold material from disclosure to any third party or a court. Legal advice privilege Legal advice privilege applies to all confidential communications between a client and their lawyer made for the purpose of giving or obtaining legal advice...

1 Introduction 1.1 Keeping corporate records in an orderly and dependable manner is vital to meet our statutory and regulatory duties, for example concerning data protection, taxation and employment. Doing so also lowers costs and mitigates the risks of holding superfluous information. 1.2 This records management policy guides staff in the correct handling of [ insert organisation name ]’s records. It explains: 1.2.1 the meaning of records; 1.2.2 the methods for classifying and storing records; 1.2.3 the retention periods for different categories of record; 1.2.4 the approach to disposing of records. 2 Responsibility and application 2.1 [ Insert name, department or role holder ] has overall responsibility for this policy. 2.2 This policy covers everyone working for us, including employees, temporary and agency workers, other contractors, interns and volunteers. All staff must read and follow it. 2.3 This policy is not a term of any employment contract and [ insert organisation name ] may add to...

A Post-Employment Notice Pay (PENP) calculation It uses a set calculation that lets employers identify the taxable portion of a severance package on termination of employment when the basic salary actually paid falls short of what would have been earned had proper or full notice been worked. The method takes basic pay, multiplies it by the remaining notice days, then divides by the number of days in the relevant pay period, before deducting in full any amounts paid net of tax, except for holiday pay and termination bonuses. The requirement to perform a PENP calculation stems from reforms that took effect from 6 April 2018, making all such payments in lieu of notice chargeable to tax and national insurance...

A periodic tenancy may qualify as a business tenancy for the purposes of the Landlord and Tenant Act 1954 (LTA 1954), conferring security of tenure on tenants. This sets periodic tenancies apart from other arrangements, such as a tenancy at will, a service tenancy, or a short-term business tenancy within LTA 1954, s 43(3), which cannot obtain any protected tenancy status under LTA 1954...

Whether a covenant is infringed hinges on the facts and the precise wording of the lease covenant. Assigning underletting, parting with or sharing possession Assignment A promise 'not to assign' or 'not to assign or otherwise part with' the premises is breached only where there is a legal assignment of the whole remainder of the term (Gentle v Faulkner). Accordingly, granting someone exclusive possession without effecting a legal assignment of the full term does not offend the covenant. In short, exclusive possession alone, absent such an assignment, will not amount to breach. See Commentary: Covenants against assignment or parting with possession: Hill and Redman's Law of Landlord and Tenant [1]...