Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

General Principles definition

What does General Principles mean? In takeover practice, General Principles are the high‑level standards that guide how the Takeover Code (UK) and the Irish Takeover Rules are interpreted and applied in real transactions. They set expectations of commercial behaviour by bidders, target boards and advisers. There are six General Principles, mirroring the general principles in Article 3 of the EU Takeover Directive. In the UK they are contained in the Code notwithstanding Brexit; in Ireland they derive from the Directive and are embedded in the Rules. They are expressed in broad terms and neither the Code nor the Rules defines the precise limits of their...

Financial remedies on divorce and civil partnership dissolution: needs, compensation and sharing, including matrimonial vs non‑matrimonial property, post-White, Miller/McFarlane and Standish (England and Wales)

Published by a LexisNexis Family expert

Practice notes

This Practice Note

This Practice Note outlines the overarching principles of compensation, sharing and equality, alongside needs, and explains how the court applies them when exercising discretion in financial order proceedings. It reviews the leading authorities of White v White, Miller v Miller; McFarlane v McFarlane, later decisions, and Standish v Standish. In White v White, the House of Lords charted the course for the principles governing financial orders. Prior to White, outcomes in high‑net‑worth cases were capped by the financially weaker party’s ‘reasonable requirements’; once those needs were satisfied, the wealthier spouse often retained a markedly larger portion of the resources. White repositioned fairness as the guiding aim in financial cases, assessed by what the House of Lords termed ‘the yardstick of equality’. After White, a move away from equality requires sound justification. The judicial discretion is exercised with fairness as the touchstone, rather than limiting awards to ‘reasonable requirements’. Subsequent authority, including Miller; McFarlane and Standish, reflects this approach. Thus, after needs are met, the proposed division is measured against equality, and any departure must be supported by a good reason...

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Web page updated on 21/05/2026

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