Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Due diligence definition

What does Due diligence mean? In legal practice, due diligence describes (1) compliance steps to prevent offences; and (2) pre‑transaction investigation in corporate and finance work. As a statutory defence to many strict‑liability and regulatory offences (for example under the UK Consumer Protection from Unfair Trading Regulations 2008 and the Food Safety Act 1990, and under Ireland’s Consumer Protection Act 2007 and food legislation), it requires the defendant to show that all reasonable precautions were taken and all due diligence was exercised to avoid the commission of the offence. Depending on the statute, this may place a legal or evidential burden on the defendant,...

Private sector pensions due diligence for TUPE asset sales: transferring rights, Beckmann liabilities, minimum benefits, warranties and indemnities

Published by a LexisNexis Pensions expert

Practice notes

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THIS PRACTICE NOTE APPLIES TO ALL PRIVATE SECTOR PENSION SCHEMES

Business sales (sometimes called asset sales) involve a seller disposing of part, or all, of its tangible business to a buyer. The buyer then assumes ownership of the contracts and assets set out expressly in the business sale agreement. Those contracts will typically include, for example, commercial agreements and the employment contracts for some, or all, of the seller’s staff (employees transfer by law), together with any plant, machinery, property, goodwill, and similar items. This Practice Note should be read alongside the following Practice Notes:

Pension issues on a business sale—acting for the buyer
Pension issues on a business sale—acting for the seller
TUPE—what pension benefits should the transferee provide?

The purpose of due diligence

Due diligence is the process by which a buyer obtains information about the seller's business and the accompanying liabilities. Lawyers acting for the buyer are frequently provided with access to an actual or virtual data room which holds copies of documents that provide information on the seller and its business...

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Web page updated on 21/05/2026

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