Jurisdiction(s):
United Kingdom

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Assent definition

What does Assent mean? In probate practice, an assent is the act or instrument by which personal representatives (executors or administrators) transfer estate assets to a beneficiary in satisfaction of a will or intestacy entitlement. Only personal representatives can give an assent. It is usually used once debts, taxes and expenses are provided for and the beneficiary’s interest is confirmed. An assent gives effect to the gift: after assenting, the personal representatives hold the asset on bare trust for the beneficiary until any remaining formalities (such as land registration or re-registration of shares) are completed. Use and terminology are broadly consistent across...

UK Modern Slavery Act 2015, s54 (Transparency in Supply Chains): preparing and publishing statements—scope, group structures, 2025 Guidance updates, timing, approval and enforcement

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Practice notes

The Modern Slavery Act 2015 (MSA 2015)

The Modern Slavery Act 2015 (MSA 2015) gained Royal Assent on 26 March 2015. Under Section 54, certain firms are required to prepare and make public a statement addressing modern slavery and human trafficking, for each and every Financial year of the organisation. The government has issued guidance (the Guidance), which was updated on 27 March 2025. The 2025 revision marks the first wholesale replacement of the Guidance since its initial issue in October 2015, displacing earlier incremental updates. The Guidance states plainly that organisations ought to release their statement as soon as is reasonably practicable after the close of their financial year, and preferably no later than six months after the organisation’s year end. Accordingly, a company with a 31 March year end should, in effect, have its statement available by 30 September of that same year, in line with the stated expectation. Organisations may prefer to time publication to coincide with other Annual accounts, following their usual cycle. Beyond the regulatory obligations, organisations should anticipate commercial pressure from a wide variety of stakeholders and third parties to observe and comply with the provisions set out therein...

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Web page updated on 22/05/2026

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