Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Options definition

What does Options mean? In legal practice, an option is a contractual right, not an obligation, to buy (a call) or sell (a put) an identified underlying (for example shares, commodities or currency) at an agreed strike price either on the expiry date (European-style) or at any time up to expiry (American-style). The holder pays an option premium for this right; key terms include the underlying and quantity, strike, expiry and the settlement method (physical delivery or cash settlement). Options are used to hedge risk, obtain price protection or leverage exposure, and are fundamental in derivatives, corporate finance and remuneration structures. The term is...

Construction law developments—2017 archive: legislation, procurement, standard forms, dispute resolution, appellate cases, infrastructure and policy.

Published by a LexisNexis Construction expert

Practice notes

ARCHIVED

This Practice Note is archived and no longer updated. The Construction horizon scanner showcases key forthcoming developments for construction lawyers; when a development materialises, it is placed in the archive for the appropriate year. This page collects events that happened in 2017. For case law, refer to: Construction case tracker—2017 [Archived].

Legislation

Tax: Outcome of consultation on supply chain fraud — 22 November 2017. HMRC consulted from 20 March to 9 June 2017 on measures to tackle supply‑chain fraud involving labour provision in the construction industry. In the Autumn Budget 2017 (see below), the government announced a VAT domestic Reverse charge aimed at preventing VAT losses. See News Analysis: Fraud on provision of labour in construction sector—consultation on VAT and other policy Options.
Payment Reporting: First deadline to report on payment practices — 4 November 2017 (for organisations with a first reporting period beginning on 6 April). The Reporting on Payment Practices and Performance Regulations 2017, SI 2017/395 and the Limited Liability Partnerships (Reporting on Payment Practices and Performance) Regulations 2017, SI 2017/425 took effect on 6 April 2017, obliging large organisations to publish...

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