Statement of funding principles meaning

In this issue: Key DR developments Claims and remedies Cost and funding Case management Scottish Dispute Resolution New content Dates for your diary Useful information Daily and weekly news alerts Key DR developments Court information HMCTS updates Form N215 certificate of service HM Courts & Tribunals Service (HMCTS) has issued a revised English Form N215 Certificate of Service for civil proceedings, which also brings in a new statement of truth. While the layout has been updated, the details required remain unchanged, with extra notes added to assist with completing the form. For further detail, see: HMCTS updates Form N215 certificate of service—LNB News 27/01/2026 36. Additional permanent courtrooms to boost capacity The government will make four former Nightingale Courts in Fleetwood, Telford, Chichester and Cirencester permanent, creating 11 additional courtrooms across England and Wales to increase capacity for criminal, family and civil work and help cut delays. For further detail, see:...

In this issue Key DR developments Costs and funding Service Injunctions Evidence and disclosure New content Dates for your diary Useful information Daily and weekly news alerts Key DR developments Litigation Funding Agreements (Enforceability) Bills Litigation Funding Agreements (Enforceability) Bill introduced The Litigation Funding Agreements (Enforceability) Bill (the Bill) had its first reading in the House of Lords on 19 March 2024. It seeks to amend section 58AA of the Courts and Legal Services Act 1990 (CLSA 1990) to address the enforceability of litigation funding agreements. If enacted, it would overturn the Supreme Court’s decision in R (on the application of PACCAR Inc) v Competition Appeal Tribunal [2023] UKSC 28, which classified litigation funding agreements as damages-based agreements and thus unenforceable. The proposed amendment would apply retrospectively. The Bill’s second reading is listed for 15 April 2024—see: LNB News 20/03/2024 60—Bill introduced into House of Lords to reverse PACCAR ruling. Reports, publications...

Restructuring & Insolvency weekly highlights—25 April 2024 In this issue: Key R&I developments Corporate insolvency procedures Restructuring Directors and insolvency Insolvency disputes Property insolvency Insurance and insolvency International restructuring and insolvency Daily and weekly news alerts Key dates for R&I professionals New content Key R&I developments The UK Jurisdiction Taskforce (UKJT), created by the LawtechUK panel, has issued a legal statement on digital assets and English insolvency law. Although not binding, it offers helpful guidance on the overarching principles relevant to cryptoassets, distributed ledger technology, smart contacts and related technologies within English insolvency. It concludes, amongst other points, that digital assets constitute property for the purposes of the Insolvency Act 1986 (IA 1986) and that insolvent estates may retain proprietary rights in such assets. However, a statutory demand cannot presently be validly served in respect of a debt of a digital asset. See: LNB News 24/04/2024 27...

Practice Note for UK defined benefit (DB) occupational pension schemes This Practice Note is archived and is not maintained. It reviews the Pensions Regulator’s approach to funding defined benefit pension schemes for valuations with an effective date before 22 September 2024, in line with the Code of Practice on funding defined benefits dated 29 July 2014, alongside the relevant annual funding statements. It also summarises the Pensions Regulator’s approach prior to July 2014. For information on the Pensions Regulator’s approach for scheme valuations with an effective date on or after 22 September 2024, see Practice Notes: DB pensions funding reforms 2024 and The scheme-specific funding regime. When considering scheme funding issues, trustees and employers should take into account the Pensions Regulator’s approach to funding defined benefits (DB benefits). How would the Pension Regulator communicate its approach to DB scheme funding? The Pensions Regulator’s position in relation to DB scheme funding was mainly conveyed through the following documents: a code of practice on funding defined...

Archived : This Practice Note draws on provisions repealed on 1 April 2013 and is retained solely for historical reference purposes. Who determines the guideline hourly rates The Guideline Hourly Rates (GHR) are at present set by the Master of the Rolls. From January 2013, this function will pass to the Civil Justice Council, and it is anticipated that a CJC sub-committee will be created to take on that responsibility. For information about the change, see the WMS from the MOJ here. Guideline hourly rates Solicitors may charge any hourly rate they choose for their services, but those amounts might not be recovered in full at a costs assessment. When considering the rates charged, the court will examine them alongside the GHR. The Senior Courts Costs Office publishes the Guide to the Summary Assessment of Costs (the Guide), which includes guideline hourly rates for differing levels and grades of fee earner across the country. It is important to note that the Guide: does...

The Planning Act 2008 (PA 2008) brought in development consent orders (DCOs) for nationally significant infrastructure projects (NSIPs). Under this framework, compulsory acquisition powers can be authorised within the DCO itself, removing the need to obtain separate compulsory purchase order powers for such NSIPs. This position applies to schemes in England. For projects in Wales, where compulsory acquisition is needed for associated development, a distinct compulsory purchase order must still be pursued. For further background, see: Compulsory acquisition for NSIPs—introduction and principles. This Practice Note proceeds on the basis that the inclusion of compulsory acquisition powers in the draft DCO has already been decided, and examines the draft compulsory acquisition provisions and accompanying material for the DCO application, together with the procedure following acceptance of the DCO application by the Examining Authority (ExA) under PA 2008. See also Practice Notes: Compulsory acquisition for NSIPs—introduction and principles Compulsory acquisition for NSIPs—examination, making the DCO, costs, implementation and material change applications Compulsory Acquisition for NSIPs—special categories...

Effective from [ insert date ], this statement of investment principles applies. 1 Statement of investment principles 1.1 Purpose of statement This document outlines the principles that steer decisions on investing the assets of the [ insert name ] Pension Scheme (the Scheme). It is published by the Trustees of the [ insert name ] Pension Scheme (the Trustees) to meet the requirements of the Pensions Act 1995, s 35. 1.2 Review The statement will be assessed each year. The Trustees may conduct an ad hoc review at any time if they consider there has been a material change in investment policy, or any other circumstances affecting the Scheme. 1.3 Advice The Trustees have received and evaluated written advice on the contents of this statement in a letter from [ insert name of investment consultant or actuary ]. [ insert name ] have confirmed to the Trustees that, through their ability and practical experience in financial matters, and with appropriate knowledge...

THE [ insert name of pension scheme ] PENSION SCHEME This statement of investment principles takes effect from [ insert date ]. 1 Statement of investment principles 1.1 Purpose of statement This document outlines the principles that guide decisions on investing the assets of the [ insert name ] Pension Scheme (the Scheme). The Trustees of the [ insert name ] Pension Scheme (the Trustees) issue this document to meet the requirements of section 35 of the Pensions Act 1995. 1.2 Review The statement will be reviewed each year. The Trustees may conduct a special review at any time if they consider there has been a material change in investment policy or any other circumstances affecting the Scheme. 1.3 Advice The Trustees have received and considered written advice on the contents of this statement in a letter from [ insert name of investment consultant or actuary ]. [ insert name ] have confirmed to the Trustees that, through practical expertise in financial...