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R (Greyhound Board of Great Britain Ltd) v Welsh Ministers [2026] EWHC 670 (Admin) What are the practical implications of this case? The ruling reinforces the constitutional divide between the courts and the legislature. It explains that the scheme and framework of the Government of Wales Act 2006 (GWA 2006) embody that separation of powers, and that any judicial attempt to recognise and enforce a common law obligation on Welsh Ministers to consult prior to introducing legislation in the Senedd would trespass upon that boundary. This is not a departure from established principle; case law has already upheld comparable rules for lawmakers in Scotland and at Westminster. However, this is the first express confirmation of the position for Welsh lawmakers, and the first time this dimension of the GWA 2006 has been analysed in such depth. The court examined earlier
The solution arrived through the United Nations Compensation Commission (UNCC), a quasi‑judicial body handling mass claims, created under UN Security Council Resolution 687. By addressing environmental harm—most notably via its ‘F4’ claim class—the UNCC set a seminal benchmark shaping how international law and contemporary arbitral panels allocate financial responsibility for wartime ecological devastation. With present-day wars in areas such as Eastern Europe and the Middle East bringing dam breaches, strikes on chemical facilities, and the burning of farmland, the UNCC’s legacy endures as an essential reference point for states, global investors, and companies engaged in post‑conflict arbitration. The F4 claims: Quantifying the unquantifiable Prior to the 1990s, mechanisms in international law for war reparations overwhelmingly favoured property loss, foregone earnings, and bodily injury. The natural world was commonly treated as a mute, non-compensable victim of armed hostilities...
Understanding the farming business as a business Many farms still use long-standing structures that arose by habit, not strategy. Sole traders, informal partnerships and outdated partnership deeds are common. While once effective, such setups can cause major issues around succession, tax planning and involving the next generation. A corporate team can take a fresh, business-led view of the farm, asking: Who owns the land and other critical assets? Who manages daily operations? Who carries the risk and who enjoys the return? What is the enduring plan for succession? From this review, the team can confirm whether the current setup is fit for purpose or if an alternative — for example an updated partnership agreement, a company, a limited liability partnership, or a blended model — would better meet the family’s aims. Tax efficiency through joined-up advice Tax sits at the centre of most
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Air France- KLM SA did not reveal what it will pay for the holdings, stating the price will be set on completion. The Franco- Dutch airline said it expects to close the transaction in the second half of 2026, subject to regulatory approval. No additional particulars were shared. Details of counsel for the companies were not immediately available. Benjamin Smith, chief executive of Air France, said in a statement that stronger financial performance at SAS had prompted the company’s interest in securing a controlling stake in the carrier. ‘ Following [its]’......
Domestic The CBI publishes Private Motor Insurance Report of the National Claims Information Database On 7 May 2025, the Central Bank of Ireland ( CBI) released its 2025 mid-year private motor premium report. Private motor insurance was the first line of business captured in the National Claims Information Database, created to hold aggregated claims data and enhance openness around the cost of claims. Drawing on information up to and including the first half of 2024, the publication sets out key insights and developing patterns in private motor premiums. Data indicate the average premium increased by 9% in the first six months of 2024 versus the same period in 2023, with the typical premium for that timeframe at €616. Policies with comprehensive cover continue to rise as a share of the market, representing 93% of all policies. While average premiums remain below the 2018 peak of €702, the...
European ESMA launches call for evidence on the retail investor journey under Mi FID II On 21 May 2025, the European Securities and Markets Authority ( ESMA) opened a call for evidence ( Cf E) concerning the retail investor journey within the framework of the Markets in Financial Instruments Directive II (( EU) 2014/65) ( Mi FID II). The purpose of this Cf E is to collect stakeholder input on barriers and frictions to participating in capital markets, and to gauge whether targeted simplifications could make it easier for investors to engage with those markets. In doing so, the Cf E reviews key retail market trends, the day-to-day application of Mi FID II requirements, and the experience of investors operating under the European crowdfunding framework too......
Domestic Financial Services and Pensions Ombudsman ( Amendment) Act 2025 ( Commencement) Order 2025 On 7 May 2025, the Minister for Finance, Paschal Donohoe, issued the commencement order to bring the Financial Services and Pensions Ombudsman ( Amendment) Act 2025 into force. Effective from 9 May 2025, the 2025 Act updates the Financial Services and Pensions Ombudsman Act 2017, by: setting out how the Ombudsman’s expenses are calculated when carrying out their functions permitting the appointment of additional individuals to serve as Ombudsman providing for how investigations are conducted and making related consequential amendments Remarks by Central Bank of Ireland Deputy Governor Mc Munn at the National Fintech Summit On 13 May 2025, Mary- Elizabeth Mc Munn, Deputy Governor of the Central Bank of Ireland, addressed the National Fintech Summit on a central bank and regulator’s perspective on innovation in financial services. She underlined that a public sector...
Domestic Minister for Finance Paschal Donohoe TD at the Irish Funds annual global funds conference Minister for Finance Paschal Donohoe TD presented the keynote address during the Irish Funds annual global funds conference. CBI Deputy Governor, DG Mc Munn at the Irish Funds annual global funds conference CBI Deputy Governor, DG Mc Munn spoke during the Irish Funds annual global funds conference. Key themes covered process simplification, market volatility, a macro-prudential policy framework for the funds sector, operational resilience, the effectiveness of fund management companies, AML, plus technology adoption and tokenisation......
Ireland is recognised as a leading global financial hub, valued for its rigorous regulatory regime, talented workforce and pro-business environment. As an English-speaking common-law jurisdiction, it aligns with key legal principles in the UK and the US, while operating within the broader framework of EU law. For many years, Ireland has acted as a natural bridge between the US and the EU, and it remains ideally situated as the gateway to one of the world’s largest markets. Although recent geopolitical shifts across the Atlantic may prompt caution, there is ample reason for optimism. On 19 March 2025, the EU unveiled its Savings and Investments Union ( SIU ). The SIU’s core objectives are twofold: to give businesses simpler access to capital so they can innovate, expand and create quality jobs in Europe to offer households more, and safer, ways to invest in...
Domestic Central Bank of Ireland’s Authorisations and Gatekeeping Report 2024 On 1 May 2025, the Central Bank of Ireland ( CBI) released the second edition of its Authorisations and Gatekeeping report, outlining the CBI’s authorisations and gatekeeping performance across the 2024 calendar year. It includes material on preparing submissions for authorisations, the Markets in Crypto Assets Regulation (( EU) 2023/1114) ( Mi CAR), the 2024 authorisation timelines by sector, and details of the CBI’s fitness and probity gatekeeping process. The report also features a chapter setting out the CBI’s expectations for authorisations. European Union ( Payment Services) ( Amendment) Regulations 2025 On 8 May 2025, the Minister for Finance, Paschal Donohoe, made the European Union ( Payment Services) ( Amendment) Regulations 2025 ( S. I. No. 169 of 2025), which amend the principal European Union ( Payment Services) Regulations 2018 ( S. I. No. 6 of 2018). The...
Domestic Department of Finance consults on Distance Marketing of Consumer Financial Services On 11 April 2025, the Department of Finance ( Do F) issued a regulatory impact assessment presenting its Public Consultation on the Distance Marketing of Consumer Financial Services Directive (( EU) 2023/2673), seeking views on the Directive’s transposition. The measure recognises the effects of digitalisation on the financial services market and engages with sectoral legislation. Chapter 3 details the discretions within the new regime, and the Do F is inviting feedback on these. The consultation concluded on 2 May 2025. Responses will inform decisions on the optimal method of transposing the Directive... CBI announces appointment of new Director of Policy and International On 29 April 2025, the Central Bank of Ireland ( CBI) confirmed Micheál O’ Keeffe as Director of Policy and International. O’ Keeffe currently serves as Senior Adviser to Minister Pascal Donohoe in his role as...
European Commission call for evidence on revising the SFDR On 2 May 2025, the European Commission (the Commission) issued a call for evidence ( Cf E) to inform an impact assessment within its continuing review of how the Sustainable Finance Disclosure Regulation ( SFDR) operates. Through the Cf E, the Commission flags a number of weaknesses in the present SFDR framework, drawn from extensive input collected during its wide‑ranging evaluation launched in 2023. That exercise comprised two consultations (one public and one targeted), technical workshops with industry, and outreach to Member States, supervisors and civil society representatives (see our publication here). The Commission notes that, although many stakeholders recognise that the SFDR has improved transparency and given investors access to granular ESG data, they also report that putting the rules into practice is burdensome and expensive. While acknowledging the persistent, broad backing for both the...
Key statistics for 2024 Net tax receipts for 2024 came to €107.1bn, a rise of 22.8% (€19.9bn) on 2023. The uplift was mainly propelled by corporation tax (+€15.3bn), income tax (+€2.2bn) and VAT (+€1.7bn). Together, income tax, corporation tax and VAT made up 89% of Revenue’s total net receipts in 2024. Audit and compliance interventions yielded €591m in 2024, down from €787m recorded in 2023. Tax settlements of €28.1m were finalised with 86 taxpayers. In 2024, Revenue concentrated its compliance work on key risk areas: construction, retail, wholesale, social media, digital services, fast food and hospitality tax evasion in the rental sector the categorisation of workers for tax purposes Transfer Pricing MAP...
Key deadlines 31 May 2025 - Fund profile return - Every Irish-authorised sub-fund must submit the annual Central Bank of Ireland ( CBI) fund profile return for that year. The CBI Portal deadline for these sub‑fund profile returns has shifted from February to May 2025. In 2025, the CBI refreshed its fund profile guidance and template accordingly. 6 June 2025 - EBA consultations on AML/ CFT RTS - The European Banking Authority ( EBA) is seeking feedback on four draft RTS currently mandated by the EU’s new AML/ CFT package, covering consistent ML/ TF risk assessments, customer due diligence rules, the choice of institutions for direct oversight by AMLA, and penalties. The consultations formally close on 6 June 2025. 30 June 2025 - Exchange traded funds ( ETFs) - ETF management companies should assess the steps set out in the CBI...
Domestic CBI Guidance on Investor Money Requirements On 8 April 2025, the Central Bank of Ireland ( CBI) issued an updated edition of the Guidance on Investor Money Requirements. The update refreshes the 2023 guidance and integrates the Investor Money Requirements questions and answers. It is designed to aid the sector in interpreting and complying with the Investor Money Requirements set out in Part 7 of the Central Bank ( Supervision and Enforcement) Act 2013 ( Section 48(1)) ( Investment Firms) Regulations 2023 ( S. I. No.10 of 2023). European ESMA 2025 Research Conference—call for papers On 2 April 2025, the European Securities and Markets Authority ( ESMA) announced a call for papers ahead of its 2025 Research Conference, ‘ Understanding investment funds: Developments and risks in the EU fund industry’. ESMA invites submissions from researchers, policymakers and industry experts on...
Domestic CBI updates its position in relation to portfolio transparency for UCITS ETFs The Central Bank of Ireland ( CBI) has updated its UCITS Q& A to outline its revised stance on portfolio transparency for UCITS ETFs. This positive development extends to all UCITS ETFs, as well as UCITS offering ETF share classes, regardless of whether they follow a passive track or adopt an active approach... CBI consultation on Fitness and Probity Regime The CBI has launched the CP160 Consultation Paper on proposed amendments to its Fitness & Probity ( F& P) Regime. This consultation stems from recommendations by Andrea Enria, the former Chair of the European Central Bank Supervisory Board, who carried out an independent review of the F& P regime......
The Irish Tax Appeals Commission ( TAC) has just released its 2024 Annual Report, offering detailed insight into the activities and trends within its area of responsibility. TAC serves as Ireland’s initial appellate forum for challenges to Irish tax assessments. Set out below are key highlights from the report together with our observations on related trends across its caseload. The publication also charts developments through the year against its remit. Key statistics 1,711 appeals were concluded in 2024, with a combined value of €355m; this marked the sixth consecutive year in which TAC finalised more appeals than it received over the period. At year-end 2024, 711 appeals remained pending, a significant 38% decrease from the 1,141 open at the close of 2023, the lowest volume on hand since TAC’s inception. In 2024, 1,281 appeals were received, representing the second-lowest annual intake since...
Domestic Deputy Governor of the CBI Mary- Elizabeth Mc Munn speech at the Institute of Bankers On 3 April 2025, Mary- Elizabeth Mc Munn delivered her inaugural address in her new capacity as Deputy Governor of the Central Bank of Ireland ( CBI), setting out her views on how regulation and supervision support the best interests of consumers and the wider economy. Deputy Governor Mc Munn noted that the CBI has shifted to a more integrated supervisory model in recognition of these factors, to secure effective and efficient execution of supervisory priorities. She said that simplifying regulation is an agenda the CBI welcomes, underscoring the importance of up to date and proportionate frameworks that achieve their intended outcomes. The central message was that the public is entitled to expect stability, resilience and...
AIB, quoted on Euronext Dublin and the London Stock Exchange, announced plans to buy back 191.7 million of its shares in aggregate at €6.2607 apiece. The off-market buyback, representing roughly 8.2% of AIB’s issued share capital, is scheduled to complete on 9 May 2025. Mc Cann Fitz Gerald LLP is acting for AIB. William Fry LLP is acting for the Department of Finance on the matter......
Gol Linhas Aereas Inteligentes SA ( Gol Linhas) Gol Linhas Aereas Inteligentes SA ( Gol Linhas) announced it has reached an ‘agreement in principle’ with an ad hoc cohort of senior noteholders covering exit financing and their backing for its Chapter 11 plan, set for a confirmation hearing later this month before a New York bankruptcy judge. The debtor initially unveiled its Chapter 11 plan in December, stating it had secured an accord with creditors, major investor Abra Group Ltd, and other stakeholders to eliminate US$2.5bn of outstanding debt obligations. Through a mix of refinancing transactions, debt-for-equity swaps, and broader balance-sheet restructuring measures, the airline intends to dispose of about US$1.7bn in prepetition funded debt and up to US$850m in total in other liabilities......
Domestic CBI updates the AIFMD Q& A On 7 March 2025, the Central Bank of Ireland issued an updated version of its AIFMD Q& A. The new iteration sheds light on matters concerning a QIAIF providing a guarantee for a third party, what counts as a ‘financial institution’ under the AIF Rulebook, and aspects of QIAIF loan origination. European Delays for ESMA work on AIFMD II, UCITS Eligible Assets and Mi FID II On 3 March 2025, the European Securities and Markets Authority ( ESMA) sent a letter to the European Commission outlining several 2025 outputs that will be deprioritised and deferred. This reallocation is intended to release capacity for ESMA’s top-priority workstreams. The annex to ESMA’s letter contains the comprehensive list of items being deprioritised or postponed......
Domestic CBI publishes updates to the Consumer Protection Code On 24 March 2025, the Central Bank of Ireland ( CBI) finalised its review of the Consumer Protection Code 2012 (2012 Code) and issued documents that, collectively, will revise and replace the 2012 Code from 24 March 2026. After concluding the CP158 consultation, the CBI released a feedback statement on the Consumer Protection Code ( CPC). CP158 proposed a modernised code and provided a three‑month consultation window to encourage engagement, generating 57 written submissions. The feedback highlighted concerns and specific questions, leading to amendments and clarifications to the proposals. The feedback statement was issued alongside Central Bank Regulations to give effect to the revised CPC, with a 12‑month implementation period... CPC final regulations The CBI also published the CPC final regulations, intended to strengthen consumer protections with a particular focus on: ...
Domestic CBI publishes Insurance Quarterly Newsletter— Q1 2025 On 25 March 2025, the Central Bank of Ireland ( CBI) issued its Insurance Quarterly Newsletter for Q1 2025 (the newsletter), spotlighting updates, developments and notable forthcoming dates/events for the (re)insurance sector. The newsletter covers a range of matters, including: the release of the CBI’s Regulatory & Supervisory Outlook report the CBI’s refreshed approach to supervision a note that the CBI’s dedicated Fitness and Probity Unit was set up in December 2024 the issue of the CBI’s annual report on demographics of the financial sector The newsletter appears alongside the CBI’s launch of a modernised Consumer Protection Code (the Code) following a comprehensive review of the existing regime (the Consumer Protection Code 2012) and engagement with consumer and industry stakeholders. The Code’s provisions, which take effect from March 2026 after a twelve-month implementation period, set out the business standards that...
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When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...
This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...
Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...
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