Unit trust meaning

In this issue: Clinical Negligence Interim payments, periodical payments and provisional damages Employer’s Liability Public authorities and the state Claims involving fraud and fundamental dishonesty Other PI and Clinical negligence news Daily and weekly news alerts LexTalk®PI & Clinical Negligence: a Lexis®Nexis community LexisNexis® Webinars Useful information Clinical Negligence High Court grants £2m interim award under the first limb of Eeles In DBH (a child proceeding by his mother and Litigation Friend TE) v Northern Lincolnshire and Goole NHS Foundation Trust, the court authorised an interim payment of £2,193,810.39—amounting to 90% of a prudent valuation—under the first limb of Eeles v Cobham Hire Services Ltd [2009] EWCA Civ 204, to meet the claimant’s pressing accommodation requirements and therapy provision pending trial. The judge declined to make any further award under the second limb of Eeles, holding that the material before the court fell short of establishing that the cost of the...

In this issue: Sustainable finance and ESG round–up UK and international sanctions Economic Crime and Corporate Transparency Act 2023 Registered Office Address (Rectification of Register) Regulations 2024 Service Address (Rectification of Register) Regulations 2024 Principal Office Address (Rectification of Register) Regulations 2024 Finance Bill Lending Secondary trading Security over land Intercreditor Sustainable finance Debt capital markets Derivatives Structured products and securitisation Fintech Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG round–up Sustainable finance and ESG weekly round–up For a summary of this week’s Sustainable finance and ESG developments, refer to: Sustainable finance and ESG weekly round-up—11 January 2024. UK and international sanctions DBT updates guidance on compliance with sanctions related to Russia The Department for Business and Trade (DBT), together with the Export Control Joint Unit, has issued an updated guide entitled ‘Complying with...

In this issue: Key developments and horizon scanning Residential tenancies Trespass and adverse possession Rent and rates Disputes and remedies Service charges Repairing obligations and dilapidations Electronic communications Easements and covenants Additional Property Disputes updates LexTalk®Property Disputes: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Latest Q&As Key developments and horizon scanning BPF and Law Commission comment on draft Commonhold and Leasehold Reform Bill The British Property Federation (BPF) has replied to the draft Commonhold and Leasehold Reform Bill, warning that mooted ground rent caps may undermine investments held by pension schemes and other institutional backers. It argued that those investors, who acted in good faith to meet pension promises, ought to receive appropriate compensation, highlighting that current government statements do not address this. The BPF backs elements of the commonhold overhaul, such as revised funding for major...

This Practice Note examines UK tax considerations for the operation and termination of a joint venture conducted through a partnership. For the purposes of this note, it is assumed that: the joint venture parties are UK tax resident corporate entities the joint venture partnership vehicle is also UK tax resident, and the venture’s activities are undertaken in the UK For information on: the establishment of a joint venture partnership, see Practice Note: Tax implications of establishing a joint venture partnership, and joint ventures with a non-UK element, see Practice Note: Tax implications of international joint ventures This Practice Note does not address certain investment partnerships that are unit trust schemes which may not be treated as transparent for tax purposes. Tax implications of operating a joint venture partnership In broad terms, a joint venture partnership operates in the same manner as any other partnership, since partnerships are, by definition, joint undertakings. Accordingly, what...

An offshore unauthorised property unit trust provides a means to hold UK real estate as an investment. These trusts are most often set up in the Channel Islands—typically Jersey or Guernsey—or in the Isle of Man, though they can also be constituted under the laws of another non-UK jurisdiction. This Practice Note describes such property unit trusts, wherever formed, as JPUTs (reflecting the prevalence of Jersey property unit trusts). For the purposes of this Practice Note, it is assumed that a JPUT holds UK real estate as an investment and not as trading stock. For an explanation of that distinction, see Practice Note: Dealing in property or property investment? Historically, JPUTs were favoured because UK real estate could be transferred into a JPUT without incurring stamp duty land tax (SDLT). That treatment arose under a specific exemption called ‘seeding relief’, which was withdrawn with effect from 22 March 2006, as noted in Practice Note...

This Practice Note sets out the principal regulatory considerations when replacing the trustee of an authorised unit trust (AUT), covering the steps to implement the change, the approach to selecting a new trustee, and the related disclosure and notification obligations. What is an authorised unit trust An AUT is an investment fund and, under section 237(3) of the Financial Services and Markets Act 2000 (FSMA 2000), means a unit trust scheme authorised by an order made under section 243 of FSMA 2000. an undertaking for the collective investment of transferable securities (UCITS) a non-UCITS retail scheme (NURS) a qualified investor scheme (QIS) a long term asset fund (LTAF) a charity authorised investment fund In some respects, the Financial Conduct Authority’s (FCA) rules for AUTs vary according to classification. For more information, see Practice Note: Authorised unit trusts (AUTs)—What is an AUT? Changing the trustee of an AUT In limited circumstances, the FCA may apply to the...

PARTICULARS Date [ date ] Landlord [ name ] [ of OR incorporated in England and Wales (company registration number [ number ]) whose registered office is located at ] [ address ] (Landlord) Tenant [ name ] [ of OR incorporated in England and Wales (company registration number [ number ]) whose registered office is located at ] [ address ] (Tenant) [ Guarantor ] [ [ name ] [ of OR incorporated in England and Wales (company registration number [ number ]) whose registered office is located at ] [ address ] (Guarantor) ] Property [ description ] [ as more particularly described in Schedule 1, Part 1 ] [ Building OR Centre ] [ description ] [ identified [ edged OR coloured OR hatched ] [ colour ] on [ the [ [ name ] ] Plan OR Plan [ number ] ] ] Term the period set out in clause 2.1 [ to be included only if...