Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Warrants definition

What does Warrants mean? Warrants (also called equity or share warrants) are contractual rights that allow the holder to subscribe for new shares in a company at an agreed (fixed or formula-based) exercise price within a stated period. They operate like a call option but are issued by the company, so exercise results in the allotment of new shares rather than a transfer of existing shares. The term is a market expression rather than a defined company law concept in the UK or Ireland, though warrants are generally treated as transferable securities under financial services regulation. Key features include the exercise price, expiry/maturity, conditions...

Variation of Deferred Prosecution Agreements in England and Wales: grounds, procedure, publication obligations and key case law

Published by a LexisNexis Corporate Crime expert

Practice notes

For guidance on what deferred prosecution agreements (DPAs) are and how they work, see Practice Note: Deferred prosecution agreements, which explains their operation.

In what circumstances can a DPA be varied?

The statutory power to amend a DPA sits squarely in paragraph 10 of Schedule 17 to the Crime and Courts Act 2013 (CCA 2013) itself.

A DPA may require alteration in two situations:

where the court invites the parties to vary the DPA under CCA 2013, Sch 17 Pt 1, para 9(3)(a), namely where the organisation has breached the agreement and the court wants the parties to put forward proposals to cure the organisation’s non-compliance, by agreement between the parties as invited by the court, accordingly (see Practice Notes: Financial penalties as a term of a DPA—Late payment and breach of a DPA and Breach of a DPA)
where a variation is required to prevent the organisation failing to comply with its obligations in circumstances that were not, and could not reasonably have been, anticipated by the prosecutor or the organisation when the DPA was concluded at the time that the DPA was agreed

There is a risk that, if a DPA is regarded as something that can be...

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Web page updated on 22/05/2026

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