Jurisdiction(s):
United Kingdom

Key definition

Law definition

What does Law mean? In legal practice, Law describes the body of binding rules governing parties’ rights and obligations in the relevant jurisdiction(s). It is not a single statutory or case-law definition; in contracts it is a descriptive catch‑all used to capture all sources of applicable law. Law includes: (a) any primary or secondary legislation (including regulations, statutory instruments and byelaws) in force from time to time that applies to a party or to the place the Services are provided; (b) the common law and, where applicable, equity; (c) any binding court order, judgment or decree; (d) any applicable industry code,

Scots law companies and partnerships: practical differences from England & Wales, including Companies House practice, security registration, separate personality and insolvency, PSC regime, and Scottish Charitable Incorporated Organisations

Published by a LexisNexis Banking & Finance expert

Practice notes

STOP PRESS

The Economic Crime and Corporate Transparency ACT 2023 (ECCTA 2023) obtained Royal Assent on 26 October 2023. Part 1 of ECCTA 2023 comprises a significant suite of measures that bolster the function of Companies House and increase the transparency of UK corporate entities, furthering the openness of UK corporate bodies. The ECCTA 2023’s provisions will be introduced gradually over time, over an extended period. Numerous elements of the statute depend on detailed secondary legislation and guidance, alongside the development of fresh technical systems and tools to deliver the changes.

For further details, see Practice Notes: The Economic Crime and Corporate Transparency Act 2023—what Banking & Finance lawyers need to know and The Economic Crime and Corporate Transparency Act 2023—tracker.

This Practice Note draws out the practical distinctions between legal entities in Scotland and those in England and Wales. It also addresses the legal framework for Scottish Charitable incorporated organisations (SCIOs), an entity unique to Scotland and found only there. Matters that are identical for legal entities on both sides of the border are not addressed here. For additional information on those entities, see Practice Note: Types of borrowers...

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Web page updated on 21/05/2026

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