Specific implement meaning

This comprehensive pack provides a staged guide to setting up a fresh enterprise management incentives (EMI) share option scheme and issuing EMI options under it. Use this pack when a standard suite of EMI rules is to be created for the scheme, as opposed to separate standalone share option contracts. For broader guidance on EMI arrangements, refer to Practice Note: How EMI schemes work and key features. See also Practice Note: How to establish an EMI scheme and grant first EMI options under it. Step Details of step Resources required to implement step Timing of step 1 Determine whether the company qualifies to operate an EMI scheme The EMI framework is exacting and specifies multiple conditions that must be satisfied at grant, including those applying to the company issuing the options. It is vital first to confirm that the company whose shares are subject to option qualifies to run an EMI scheme. The intended option holder(s) and the shares must...

In this issue: Key EU developments Competition and state aid Data protection and cybersecurity Financial services Environment Insurance and reinsurance Life sciences TMT International trade Daily and weekly news alerts New and updated content Trackers Key EU developments EU introduces competitiveness compass The European Commission has unveiled the competitiveness compass, a strategic blueprint to steer its programme over the next five years, setting out priority measures to bolster Europe’s competitiveness. It marks the first flagship move of this Commission’s mandate. The compass draws on the recommendations in the Draghi report, ‘The future of European competitiveness’, issued in September 2024 (see: LNB News 10/09/2024 44). The ambition is to secure Europe’s leadership in designing, producing and commercialising next-generation technologies, services and clean products, while progressing towards climate neutrality. Although productivity growth has trailed that of other major economies for two decades, the EU retains the ingredients to turn the tide — a...

European Union Dual regulatory framework The MDR and IVDR set out requirements addressing risks linked to medical device software; yet they do not expressly cover risks unique to AI systems. The AIA complements the MDR/IVDR by introducing obligations that target hazards and risks to health, safety, and fundamental rights that are specific to AI. This combined application obliges manufacturers to achieve compliance with both frameworks concurrently. Manufacturers of MDAI may choose, where appropriate, to incorporate the necessary testing and reporting activities, as well as the information and documentation required for their MDAI, into the documentation and procedures already established under the MDR/IVDR. In practice, alongside the MDR/IVDR and the AIA, numerous other EU regulations will often apply to these devices. With this in mind, streamlining and aligning the various processes is of paramount importance. Quality management systems The AIA requires providers and manufacturers to implement quality management systems (QMS) for AI systems to ensure conformity with the AIA, covering substantive requirements and procedural obligations, and applied in...

Key takeaways The CMA Guidance, derived from the Code, sets out detailed expectations for any environmental or sustainability claims by fashion brands about products or ranges, plus steps to achieve compliance. The emphasis is on giving enough information so claims are clear, specific, accurate, and supported by evidence. Businesses are encouraged to implement strong internal controls to ensure the accuracy of environmental claims in line with the Guidance. This means having suitable policies, routine staff training, and mechanisms to check product listings and supplier assertions. The Guidance precedes the CMA’s forthcoming enforcement powers under the Digital Markets, Competition and Consumers Act 2024 (DMCCA 2024), which will permit financial penalties of up to 10% of a business’s global turnover for breaches of consumer protection law. The CMA has already contacted 17 fashion brands over concerns about their environmental claims, signalling active oversight and an expectation of compliance. Background to the CMA's guidance On 18 September 2024, the CMA published the Guidance to...

A glossary of frequently used terms and phrases in Scottish Private Client law, with the closest England and Wales equivalents (where applicable) and links to helpful websites Ab intestato Meaning From someone who dies without a will; describes property taken under the laws of intestate succession. Nearest English equivalent None Action of specific implement Meaning A court action seeking an order compelling a party to carry out a particular act. In Scotland there is no division between equitable and legal remedies, unlike England and Wales. Nearest English equivalent Specific performance (an equitable remedy for breach of contract that can be ordered alongside, or in place of, damages) Advance notice Meaning An entry in the relevant property register that protects the grantee of a deed intended for registration in the Land Register of Scotland. The protected period of 35 days begins on the day after registration....

1. What is the applicable legislation? The rules governing foreign direct investment are set out in: Competition Law No. 21 of 10 April 1996, as later amended and republished, most recently by Government Emergency Ordinance (GEO) No. 17/2026 of 13 March 2026 (Competition Law 1996) Regulation on economic concentrations adopted by Order No. 432/2017 of the President of the Romanian Competition Council (RCC) Supreme Council for State Defence (CSAT) Decision No. 73/2012 concerning the application of article 46 paragraph (9) of the Competition Law 1996 GEO No. 46/2022 implementing Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 establishing a framework for the screening of foreign direct investments into the Union (FDI GEO 2022), published on 18 April 2022 and approved by Law No. 164 of 31 May 2023, further amended by GEO No. 108 of 29 November 2023, Law No. 231/2024 of 17 July 2024, GEO No. 152/2024 of 18 December 2024, and GEO No. 17/2026...

Justification—the ‘justification defence’ This Practice Note explores the concept of justification—often termed the ‘justification defence’—within discrimination under the Equality Act 2010 (EqA 2010). It addresses what may amount to a proportionate means of achieving a legitimate aim. It assesses proportionality in cases of indirect discrimination (EqA 2010, s 19(2)(d)), including where the objective is to prevent discrimination linked to other protected characteristics. It reviews the notion of a provision, criterion or practice (PCP) and considers issues arising in relation to direct and indirect age discrimination (EqA 2010, s 13(2)) and the Heyday case. In doing so, it evaluates objective justification, defence (no discrimination), the burden of proof, the approach a tribunal should adopt, and circumstances where discrimination rights come into conflict. This Practice Note includes references to case law of the Court of Justice of the European Union (CJEU). For guidance on whether judgments of the Court of Justice are binding on UK courts, see Practice Note: Assimilated law—Assimilated case law. Domestic measures enacted to fulfil UK obligations under...

1 Definitions 1.1 In this Agreement: Change denotes any alteration to the Services and/or the terms of this Agreement, excluding a minor operational alteration as referenced in clause 2.2; Charges refers to the fees, costs and expenses payable by the Customer to the Supplier for the delivery of the Services, as specified in Schedule [ insert schedule number ]; Change Control Note means the document submitted to support a Change Request under the Change Control Procedure, in a form materially comparable to the pro-forma change control note in the Appendix to Schedule [ insert schedule number ]; Change Control Procedure signifies the method by which any Change is agreed, as set out in Schedule [ insert schedule number ]; Change Request indicates a request, in the format of a Change Control Note, lodged by a party seeking to implement a Change; Charge Review Procedure describes the process for reviewing and providing information concerning a prospective increase or reduction in the Charges,...

1 Investing in the future (legal and commercial investments) To capitalise on our firm’s core strengths, deliver outstanding client service, and elevate brand recognition and value To allocate resource to the planned programme of activities so we continue to attract and retain top talent To dedicate [ x ]% of turnover to reinforcing our business platforms: operations, systems, risk management and environment 2 Governance/management To evaluate the management structure and processes, and develop options for consideration that streamline and strengthen the firm’s management To review and reshape the focus, timing and management of senior meetings to emphasise strategic planning, innovation and appraisal of prepared proposals To implement business planning for each legal service and operational area 3 Risk management To progress agreed actions that raise risk awareness across the firm, supported by an open-door policy and a no-blame culture To continue providing the infrastructure, systems, training and support to manage...

Defined terms : In addition to the definitions set out below, this Precedent also uses the defined terms ‘Agreement’, ‘Business Day’, ‘Customer’, ‘party’ / ‘parties’, ‘Services’ and ‘Supplier’, which are general rather than specific to data processing and are assumed to be defined separately in the relevant agreement. Refer to the drafting notes for further guidance. The Schedule 1 Definitions and interpretation 1.1 In this Schedule: Adequacy Regulation means any valid adequacy regulation referenced in Article 45A of the GDPR; Attached Standard Contractual Clauses means the provisions set out in [ Annex [ insert ] to ] Appendix 7; Binding Corporate Rules means the binding corporate rules referred to in Appendix 6; Controller has the meaning given in Data Protection Laws; Data Protection Impact Assessment shall be interpreted in line with Data Protection Laws; Data Protection Laws means all applicable laws relating to the processing, privacy and/or use of Personal Data, as applicable to either party or the Services,...

The Energy Performance of Buildings (England and Wales) Regulations 2012 (EPC Regulations), SI 2012/3118 The Energy Performance of Buildings (England and Wales) Regulations 2012 (EPC Regulations), SI 2012/3118 have applied since 9 January 2013. They place specific duties on owners of buildings they plan to sell or let to third parties. They implement Directive 2010/31/EU of the European Parliament and of the Council dated 19 May 2010 on the energy performance of buildings. It is useful first to consider what is meant by a building under the EPC Regulations, SI 2012/3118. Under reg 2(1), a building is a roofed structure with walls where energy is used to regulate the indoor climate, and this will generally also cover a building unit within that building. The same regulation provides that a building unit is a section, storey or apartment within a building designed or adapted for separate use. It follows that the term extends to any building fitted with some form of heating or air-cooling plant that consumes energy. In addition,...