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ACT definition

What does ACT mean? In corporate and banking practice, ACT usually refers to the Association of Corporate Treasurers, the UK-based professional body for corporate treasury professionals, rather than a statutory “Act”. It is not defined in legislation or case law; the acronym is market terminology used in transaction documents and governance materials. The Association of Corporate Treasurers promotes professional standards in liquidity management, funding, cash and risk management, foreign exchange and derivatives. It publishes guidance and a code of ethics and awards recognised qualifications (including AMCT and FCT). In legal contexts, references to “ACT-qualified” personnel or to ACT good practice may appear in treasury policies,...

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From House of Lords to the Supreme Court of the United Kingdom: practical changes to rules, procedure, terminology and jurisdiction, including devolution

Practice notes
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ARCHIVED: This Practice Note is archived and not kept under review. NOTE: THIS PRACTICE NOTE IS FOR HISTORIC PURPOSES ONLY.

Introduction—the nature of the changes and transitional arrangements

The principal aim behind creating the Supreme Court was to disentangle the judicial role of the House of Lords from its parliamentary function. A further objective was to improve openness and ease of use of the appellate process at the nation’s highest court. These reforms did not amount to a complete overhaul of Access. The avenues for appealing to the Supreme Court mirror those that previously led to the House of Lords.

In the main, the reforms are not far-reaching, save, arguably, for bringing within the Supreme Court’s jurisdiction the determination of devolution issues (formerly heard by the Privy Council). Beyond that, the alterations are largely presentational: refreshed terminology, a different procedural style and tone, and a more modern setting. The transitional provisions for matters already before the House of Lords are set out in SCR 55, which simply confirms that the new Rules apply to cases still pending...

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Web page updated on 21/05/2026

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