Treasury Bill meaning

ARCHIVED: This Practice Note has been archived and is no longer maintained. On 20 December 2017, the European Commission set out plans to reform the prudential regime for investment firms across the European Union, with the aim of delivering a framework that is more proportionate and more sensitive to risk. Those proposals ultimately resulted in the Investment Firms Regulation (EU) 2019/2033 (EU IFR) and the Investment Firms Directive (EU) 2019/2034 (EU IFD). As the EU regime only started to apply from 26 June 2021 (ie after the end of the implementation period that followed the UK’s withdrawal from the EU), it therefore did not automatically take effect in the UK. In June 2020, HM Treasury outlined, via the Financial Services Bill, its intention to legislate for an Investment Firms Prudential Regime (IFPR) that would broadly mirror the EU IFR and EU IFD while being tailored to the UK. The Financial Services Bill received Royal Assent on 29 April 2021 and became law as the Financial Services Act 2021 (FSA...

In this issue: Budgets, Autumn Statements and Finance Bills Tax treatment Corporate governance Trackers Dates for your diary Weekly highlights from other practice areas Budgets, Autumn Statements and Finance Bills Treasury announces date of ‘Legislation Day’ Draft legislation for the Finance Bill 2026 will be issued on Monday 21 July 2025. In a written statement, James Murray, Exchequer Secretary to the Treasury, confirmed that the UK Government will publish draft clauses on that date, capturing policy changes already trailed. Alongside the draft text, there will be explanatory notes, tax information and impact notes, consultation responses and other supporting documents. The UK Government’s Tax Policy Making Principles paper also reaffirms consulting on draft Finance Bill measures over the summer, together with an intention, where appropriate, to release technical consultations at other points in the cycle far enough ahead of the Finance Bill’s introduction to ease demands on stakeholders. See: Written Statement made on 4 July 2025...

In this issue: Brexit headlines Brexit SIs Post-Brexit transition guidance Constitutional and administrative law Judicial review Equality and human rights Public Procurement Subsidy control and State aid Information law Other Public Law news LexTalk®Public Law: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Brexit headlines The Foreign Affairs Committee urges a White Paper on the UK-EU reset and the publication of the Dynamic Alignment Bill. Its Third Report of Session 2024–26, From a Common Understanding to Common Ground: Building a UK EU Strategic Partnership fit for the future, assesses the government’s approach and progress on reconfiguring UK-EU relations. Aimed at shaping parliamentary scrutiny of the next phase of UK-EU engagement, it lands while discussions with the EU and internal cross-government efforts continue. The Committee concludes that, although the Lancaster House summit in May 2025 created a platform...

In this issue Equality and human rights Constitutional and administrative law Judicial review Public procurement Subsidy control and State aid Post-Brexit transition guidance Information law Other Public Law news Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information No Weekly Highlights on 24 April 2025 Equality and human rights Supreme Court rules that the EqA 2010 terms ‘man’, ‘woman’ and ‘sex’ denote biological sex (For Women Scotland Ltd v The Scottish Ministers). In For Women Scotland Ltd v Scottish Ministers [2025] UKSC 16, the UK Supreme Court unanimously concluded that these terms identify biological sex rather than ‘certificated sex’. The court determined that those holding a Gender Recognition Certificate (GRC) are not included within the EqA 2010 definition of their acquired gender. The ruling confirms that trans people remain safeguarded by the Act’s gender reassignment provisions and may pursue sex discrimination claims where...

This Practice Note compiles material on fiscal events across the 2025–26 tax year, beginning with the Spring Statement 2025 on 26 March 2025. For further detail on the Budget and Finance Bill procedures, as well as the broader fiscal timetable, see Practice Note: The Budget and Finance Bill process. Spring Statement 2025 On 26 March 2025, the Chancellor of the Exchequer, Rachel Reeves, delivered the Spring Statement 2025 to Parliament. The government outlined consultations and policy papers on substantive and administrative tax measures and other prospective developments. For more on the announcements, see News Analyses: Video analysis—Spring Statement 2025: Private Client perspective Spring Statement 2025—Tax analysis Tax update spring 2025: simplification, administration and reform On 28 April 2025, the Exchequer Secretary to the Treasury, James Murray, issued a written ministerial statement setting out a package of measures to simplify and reform the tax system and improve tax administration. HMRC and HM Treasury released a complementary set of documents comprising a...

Applicable legislation Insolvency legislation typically includes bespoke measures for insurers, reflecting the sector’s regulated nature and the significance of insurance to the wider economy. The Financial Services and Markets Act 2023 (FSMA 2023) revises the UK framework for insurer insolvency, clarifying certain aspects and broadening safeguards for insurers and their policyholders undergoing insolvency or write-down processes—the government consulted on these reforms in 2021 and issued its response in April 2022 (refer to News Analysis: Financial Services Markets Bill sets out post-Brexit framework for UK financial services, HM Treasury publishes response to consultation on insolvency arrangements for insurers—LNB News 07/04/2022 78 and Practice Note: The Financial Services and Markets Act 2023—essentials). The Prudential Regulation Authority (PRA) released consultation paper CP3/23, Dealing with insurers in financial difficulties, outlining proposed rules and policy in light of the FSMA 2023 changes (see: LNB News 08/02/2023 70). Those rules came into force in September 2023. HM Treasury has also published the outcome of its consultation on a new Insurer Resolution Regime (IRR) and intends...

This month, the Australian Competition & Consumer Commission (ACCC) completed the waiver notification form and announced that the revised asset thresholds and control thresholds will take effect on 1 April 2026 (instead of 1 January 2026); the Common Market for Eastern and Southern Africa (COMESA) Council of Ministers endorsed the new COMESA Competition and Consumer Protection Regulation (2025) and Competition and Consumer Protection Rules (2025) (which introduce changes to merger control); the New Zealand Government introduced a bill to reform its competition law (including merger control); major amendments were proposed in Norway to revise the Competition Act (also covering merger control); the Swiss Parliament approved significant reforms to the Competition Act, including a comprehensive overhaul of merger control; and the Taiwan Fair Trade Commission (FTC) proposed changes to merger filing and monopoly thresholds. Australia—ACCC finalises waiver notification form and April 2026 start date for the new asset thresholds and control thresholds On 1 December 2025, the Treasury and the ACCC provided a major update on rolling out Australia’s...