Statement of investment principles meaning

In this issue: Air emissions and climate change Energy for environmental lawyers Environmental disputes and proceedings Environmental permits and consents Environmental taxes, reliefs and incentives ESG and sustainability Hazardous substances and chemicals Marine Nature, biodiversity and habitat conservation Waste Waste producer responsibility regimes Water, flooding and drainage Daily and weekly news alerts New and updated content Air emissions and climate change DESNZ releases quarterly waste data reporting template for the UK ETS. The Department for Energy Security and Net Zero (DESNZ) has issued a template for quarterly waste data submissions under the UK Emissions Trading Scheme (UK ETS). It is designed for waste operators to use when sending quarterly data reports to their regulator during the voluntary monitoring, reporting and verification (MRV) period. See: LNB News 19/02/2026 50. AFME responds to European Commission consultation on climate resilience legislative framework. The Association for Financial Markets in Europe (AFME) has provided...

Pharmaceuticals—regulatory framework European Parliament adopts Critical Medicines Act proposal to address supply shortages The European Parliament has endorsed plans to bolster the availability and supply of essential medicines across the EU, approving the proposals by 503 votes in favour, 57 against and 108 abstentions. The package seeks to lessen the EU’s reliance on non‑EU countries and strengthen pharmaceutical competitiveness by backing strategic industrial projects to expand and modernise manufacturing capacity within the Union. Under the proposals, contracting authorities would be required to apply procurement criteria that favour manufacturers producing a significant share of critical medicines in the EU, with price no longer the sole determinant for contract awards. The measures also lower the bar for joint cross‑border procurement from nine to five countries and create an EU co‑ordination mechanism for national stockpiles of critical medicines, empowering the Commission, as a last resort during shortages, to reallocate medicines between Member States. Industry has reacted critically to the current text, warning that certain provisions could dilute the original intent of...

In this issue: Key developments and materials Air emissions and climate change Energy efficiency and buildings Energy efficiency of products Energy for environmental lawyers Environmental disputes and proceedings ESG and sustainability Hazardous substances and chemicals Marine Nature, biodiversity and habitat conservation Waste Water, flooding and drainage Daily and weekly news alerts New and updated content Trackers Useful information Key developments and materials Northern Ireland’s first Environmental Improvement Plan On 27 September 2024, the Department of Agriculture, Environment and Rural Affairs (DAERA) unveiled Northern Ireland’s (NI) inaugural Environment Improvement Plan (EIP). Brendan Martyn, Director, and Caitlin McPeake, Solicitor, at Cleaver Fulton Rankin, share their views on the EIP. See News Analysis: Northern Ireland’s first Environmental Improvement Plan. UK Industrial Strategy Green Paper and Legal Services Invest 2035, the government’s industrial strategy green paper, was introduced at the International Investment Summit on 14 October 2024. A finalised...

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...

The doctrine of contractual estoppel has been employed in a number of varied commercial scenarios, but most notably and particularly in more recent times in disputes within the financial sector. This Practice Note identifies several key cases since the 2006 Court of Appeal decision in Peekay v ANZ Banking Group. It should be carefully read in conjunction with Practice Note: Contractual estoppel. Peekay v ANZ Banking Group (2006) The Court of Appeal’s ruling in Peekay v ANZ Banking Group is widely regarded as the foremost and controlling authority on contractual estoppel. The claimant executed a ‘Risk Disclosure Statement’ for investments arranged through the defendant bank, recording an acknowledgement that the signatory fully appreciated the nature of the transaction and the contractual relationship then being entered into by it at the time. The Court of Appeal held that, in light of this, the claimant could not later contend or maintain that it had been induced to contract by a misrepresentation as to the nature of the investments it was...

From 1 October 2012, the duty on employers to nominate and facilitate access to a stakeholder pension scheme (as set out in section 3 of the Welfare Reform and Pensions Act 1999 (WRPA 1999)) ceased, as the new requirement by employers to enrol workers automatically into an automatic enrolment scheme (introduced by the Pensions Act 2008) took effect thereafter. However, unless a relevant exception applies (eg where an employer is notified that a designated stakeholder pension scheme has begun winding up), employers remain under an ongoing obligation, as applicable, in respect of relevant employees, to deduct employee contributions to any existing stakeholder scheme from pay, as appropriate, and forward them to the trustees or managers of the schemes. In addition, both existing and newly created stakeholder pension schemes must continue to be run in line with the statutory requirements applicable to such schemes, as necessary. Ongoing familiarity with the legal requirements governing the establishment, maintenance and eventual winding-up of stakeholder pension schemes is therefore essential, and the purpose of this...

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...