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Introduction to statutory interpretation The aim of statutory interpretation is to determine the legal meaning of a statute, that is, the sense that expresses the legislator’s intention. The clearest guide to that intention is the statutory wording itself, read in its context and with its overall purpose in mind, and its broader legislative setting. Courts should seek to fulfil the purpose of legislation by construing its language, so far as they can, in the manner that most effectively serves that purpose. Put differently, the courts’ default method is purposive, and every enactment is to be construed with that end in view. There is a starting presumption that the grammatical and ordinary sense of an enactment reflects the meaning intended by the legislator. Where an enactment reasonably bears only a single meaning, and no other interpretative tools or
This Practice Note addresses identifying a fiduciary, fiduciary duties and obligations, the no conflict rule, the no profit rule, a fiduciary's duty of confidence, and the remedies available for breach of fiduciary duty. Who is a fiduciary? There is no definitive catalogue of relationships that give rise to fiduciary obligations at common law in every situation universally. Certain relationships are inherently fiduciary, eg trustee and beneficiary, solicitor and client, principal and agent, business partner and co-partners, together with mortgagor and mortgagee. The obligations of some fiduciaries have been set out in statute; for instance, trustees owe a statutory duty of skill and care under section 1 of the Trustee Act 2000 (TrA 2000), and directors' relationships with their companies are addressed in the Companies Act 2006 too. For guidance on directors' fiduciary duties, see Practice Note: of directors for further detailed
Definition of ADR Alternative dispute resolution (ADR) is defined in the CPR Glossary as a collective label for methods of settling disputes other than through the usual trial process. Some courts adopt the term ‘negotiated dispute resolution’ (NDR) to describe resolution by alternative means; for ease, this Practice Note uses ADR. For guidance on how ADR is addressed in the various court guides, see Practice Note: ADR and NDR in the court guides. In essence, ADR is a means of resolving a dispute outside the court system. It typically involves a neutral third party who either helps the parties reach a negotiated outcome, or issues a determination of the dispute that is legally binding. A binding result can follow where the agreement to refer the dispute to ADR so provides. There are multiple forms of ADR processes. For an outline of the different types and their
In brief The British constitution is uncodified, meaning it does not spring from a single constitutional document or code. It draws on a wide range of written and unwritten sources. Alongside the principal written sources of law in England and Wales—legislation (which has also introduced international and human rights principles into our constitution) and the common law—the constitution also rests on two further unwritten bases within this system: the prerogative, and non-legal constitutional conventions. In addition, on one view the basic or prevailing principle of our constitution, Parliamentary sovereignty, is ultimately grounded in political fact rather than in law. Legislation Legislation is the foremost source of constitutional law. Acts of Parliament may set out detailed constitutional rules, or even pass authority to create them to ministers or to others. Under the doctrine of Parliamentary sovereignty, legislation is traditionally regarded as taking precedence over any other form or kind of
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When does a tax lawyer get involved in a bond issue? A tax lawyer is typically brought in only after certain milestones have been passed: the business seeking funding has already chosen to raise finance by issuing a bond the issuer has retained a lead manager (usually a bank or broker) to manage the issue, and the lead manager has 'launched' the bond by appointing, or at least approaching, co-managers to help sell and underwrite the issue The principal exception is where a tax lawyer assists the issuer in weighing different financing routes and their tax implications. This Practice Note concentrates on the central issues that arise once the commitment to proceed with a bond issue has been made. When a tax lawyer does become involved, they may act for the issuer or for the lead manager. In practical terms, the identity of the client is of limited...
What is a Biometric Immigration Document? A Biometric Immigration Document ( BID) is the principal record that allows the holder to demonstrate their biometric and biographical details, immigration status, any conditions on their stay, and entitlement to public funds in the UK. It can also show the holder’s National Insurance number (for individuals on Worker routes) and whether NHS treatment is chargeable. With the shift to digital status, all BIDs are now issued in electronic form as an e Visa. The only exception is entry clearance for six months or less, such as a Visitor visa, although these will likewise move to e Visas in due course. An e Visa is an electronic record of status. The holder must have an online UK Visas and Immigration ( UKVI) account so that they, and authorised third parties, can access their e Visa. Once a UKVI...
Scope This Practice Note reviews the technical, environmental and economic aspects of biomass heating. For information on biomass combined heat and power, see Practice Note: Combined heat and power—technology. What is biomass heating? Biomass heating involves burning organic, non-fossil materials to produce heat. In principle, a range of fuels can be used, including: animal dung domestic and industrial waste biodiesel wood Biomass heating is viewed as very low carbon and forms a significant element of the UK’s plans to reduce carbon emissions. This note concentrates on technologies at commercial scale commonly adopted in the UK that use biomass as wood chips or pellets, although much of the detail is also relevant to domestic situations. Wood chips and pellets are two prevalent biomass fuels. Wood pellets are produced from sawdust, compressed into short cylinders, and offer greater uniformity than wood chips. Pellets are denser, more...
Biodiversity legal and policy frameworks comprise a fast‑evolving and often intricate branch of law. In the wake of marked post‑war declines in biodiversity, a corpus of legal measures emerged to confront the issue. Results have been uneven; nevertheless, biodiversity law and policy now form a core element of government policy and the jurisprudence of domestic and international legal systems. This direction is set to persist, particularly as the ties between restoring biodiversity and adapting to climate change are drawn more closely. This Practice Note equips practitioners with the context and principal concepts underpinning biodiversity law. It explores: the background to the legislative and policy frameworks that support biodiversity, and the key concepts in biodiversity law It also sits within a suite of biodiversity content comprising the following Practice Notes: Biodiversity— UK policy and legislative framework ...
BIM (building information modelling) protocol There is no single, mandatory BIM protocol required on all UK projects using BIM—parties involved in construction projects where BIM is to be adopted are free to choose the protocol they wish to use; it is not imposed and remains a matter for agreement on a project‑by‑project basis. The parties may opt for one of the published forms already available, agree a bespoke protocol tailored to the scheme, or choose to proceed with no standalone protocol at all, instead setting out every BIM obligation within the contract conditions and associated technical documents. As the use of BIM has expanded, various protocols have been created by organisations seeking to promote efficiency, consistency and recognised good practice within such documents. None of these has yet become an ‘industry standard’, though that appears to be edging...
What is country-by-country reporting? Country-by-country ( Cb C) reporting obliges large multinational groups to submit an annual return that sets out the principal aspects of their activities, split across the jurisdictions where they operate. For accounting periods beginning on or after 1 April 2023, MNEs within the Cb C regime must also keep further transfer pricing documentation. For more detail, see Practice Note: Transfer pricing—the UK legislation — Transfer pricing documentation and compliance. At Budget 2025, the government confirmed it will proceed with a duty for in-scope multinationals to report, each year, information on cross-border related party transactions for accounting periods beginning after 1 January 2027. Reports will be filed via an ‘ International Controlled Transactions Schedule’ ( ICTS). Technical regulations to bring in the ICTS are expected in spring 2026. For further information, see Finance Bill 2026—reform of UK law in relation to...
This Practice Note sets out a concise overview of actions by the UK, the EU and the G20 to advance transparency, and points to matters of particular relevance for Private Client practitioners and trustees. For guidance on the due diligence duties placed on Private Client practitioners or their law firms, see the Practice Compliance content, including: Client due diligence—law firms—overview. Global developments towards beneficial ownership transparency In 2014, the G20 agreed high-level principles on beneficial ownership transparency. In March 2015, the UK government introduced legislation requiring a UK entity to maintain a register of persons with significant control ( PSC) from April 2016. A public register of PSCs (the PSC Register) became operational on 30 June 2016. In May 2015, the EU adopted the Fourth Money Laundering Directive (4MLD), which requires beneficial ownership information to be held in a central...
This Practice Note offers high-level guidance on Assimilated Regulation ( EU) 2016/1011, commonly referred to as the UK Benchmarks Regulation. For a fuller overview, see Practice Note: UK Benchmarks Regulation—essentials. Proposed Specified Authorised Benchmarks Regime On 17 December 2025, HMT released the consultation, Future regulatory regime for benchmarks and benchmark administrators, proposing to replace the UK Benchmarks Regulation with the Specified Authorised Benchmarks Regime ( SABR). Under SABR, regulation would apply only to benchmarks and administrators that present systemic risks to UK financial markets. For details, see Practice Note: UK Benchmarks Regulation—essentials— Proposed Specified Authorised Benchmarks Regime. Background to the UK Benchmarks Regulation Benchmarks are crucial to the pricing of many financial instruments and to both commercial and non-commercial contracts. After reports of manipulation across a range of benchmarks, including LIBOR, widespread concerns emerged about benchmark integrity, leading regulators to undertake...
This concise guide explains which UK enactments and retained EU measures were altered and/or repealed by the Benchmarks ( Amendment and Transitional Provision) ( EU Exit) Regulations 2019, SI 2019/657 (the Benchmarks Exit Regulations), together with other instruments at the close of the implementation period following the UK’s departure from the EU, and highlights matching updates to the Financial Conduct Authority’s ( FCA) rules and guidance. Overview of onshored and preserved EU-derived law post- IP completion day The Benchmarks Exit Regulations were laid on 25 March 2019. They sat within HM Treasury’s series of statutory instruments made under the European Union ( Withdrawal) Act 2018 ( EU( W) A 2018) to provide contingency arrangements for a no-deal Brexit. As part of the wider effort to onshore EU law, they aimed to maintain legal continuity once the UK left the EU. The EU( W) A 2018 was later...
UK battery strategy The UK battery strategy coordinates government efforts to build a world-leading battery supply chain by 2030, supporting economic prosperity and the shift to net zero. It was developed alongside the UK battery strategy taskforce. Through this strategy the UK intends to: design and create the batteries of the future bolster the resilience of UK manufacturing supply chains enable the growth of a sustainable battery industry This strategy also forms part of the government’s smarter regulation programme launched in May 2023. In the UK, batteries are governed by the Waste Batteries and Accumulators Regulations 2009 ( WBAR 2009) and the Batteries and Accumulators ( Placing on the Market) Regulations 2008 ( BAPMR 2008). These measures give effect to the Batteries Directive 2006/66/ EC. For information on the Directive and EU battery regulation, see Practice Note: Batteries...
Batteries—legal framework Batteries in the UK are governed by the following instruments: The Batteries and Accumulators ( Placing on the Market) Regulations 2008 ( BAPMR 2008), which set limits on specified substances in batteries and prescribe labelling obligations The Waste Batteries and Accumulators Regulations 2009 ( WBAR 2009), which establish arrangements for separate collection, treatment and recycling of waste batteries and help the UK achieve its waste battery collection targets The term ‘waste’ in these regulations is interpreted in line with Articles 5 and 6 of the Waste Framework Directive 2008/98/ EC. These measures initially transposed the Batteries Directive, Directive 2006/66/ EC. For further detail, see Practice Note: EU Batteries Directive—snapshot [ Archived]. For information on departures from EU law, see Practice Note: Environmental law divergence tracker. UK battery policy In September 2023, the Department for Business and Trade opened a call for evidence on the scope and...
Introduction Breakthroughs in energy storage, coupled with falling technology costs, are reshaping the global power market, putting storage firmly in the industry spotlight. This note centres on UK battery storage schemes, especially the market-specific construction considerations that arise, and are debated, when preparing and negotiating construction contracts for such schemes from a developer and funder viewpoint. For a broader primer on energy storage projects, see Practice Notes: Scaling up energy storage: revenue opportunities in Great Britain and Energy storage technologies in the UK. For planning matters linked to energy storage, consult Practice Note: The planning regime for energy storage in England and Wales. For regulatory and licensing topics affecting energy storage, refer to Practice Note: Energy storage—the evolving regulatory regime and renewable subsidy position. For further detail on regulatory hurdles and prospects for storage projects, see also the textbook: Energy Storage: Legal and Regulatory Challenges and...
Batteries—legal framework In the UK, batteries are regulated through: the Batteries and Accumulators ( Placing on the Market) Regulations 2008 ( BAPMR 2008), SI 2008/2164, which place limits on specific substances used in batteries and set out labelling obligations the Waste Batteries and Accumulators Regulations 2009 ( WBAR 2009), SI 2009/890, which create a system for separate collection, treatment and recycling of waste batteries and help the UK meet its waste battery collection targets Both instruments include provisions on enforcement, offences and penalties. These measures initially transposed Directive 2006/66/ EC, the EU Batteries Directive. That directive has since been superseded by Regulation ( EU) 2023/1542 of the European Parliament and of the Council of 12 July 2023 concerning batteries and waste batteries, amending Directive 2008/98/ EC and Regulation ( EU) 2019/1020 and repealing Directive 2006/66/ EC (the EU Batteries Regulation 2023). For further...
Banking & Finance glossary A Auditing and Accounting Organisation for Islamic Financial Institutions ( AAOIFI) The foremost Islamic, international, autonomous, independent, not-for-profit corporate body that develops and issues accounting, auditing, governance, ethics and Shari’ah benchmarks and standards for Islamic Financial Institutions ( IFIs) and the wider Islamic finance sector. Founded in Bahrain in 1991, it is backed by a number of institutional members across more than 45 countries, including central banks and regulatory authorities, financial institutions, accounting and auditing practices, and legal firms. Its pronouncements are currently applied by leading Islamic financial institutions across the world and have advanced a progressive and gradual harmonisation of global Islamic finance practice. It also delivers professional qualification programmes—notably Certified Islamic Professional Accountant ( CIPA), Certified Shari’ah Adviser and Auditor ( CSAA), and the corporate compliance programme—in efforts to strengthen the industry’s human capital and governance...
Banking regulation— United Kingdom— Q& A guide This Practice Note provides a United Kingdom–specific Q& A guide to banking regulation, published within the Lexology Getting the Deal Through series by Law Business Research (law stated as at: 24 February 2023). Authors: 1 Crown Office Row— Edite Ligere 1. What are the principal governmental and regulatory policies that govern the banking sector? Oversight of the UK banking sector rests chiefly with two regulators, with a further body setting system-wide policy: The Prudential Regulation Authority ( PRA), a part of the Bank of England, is responsible for prudential supervision, safeguarding the financial safety and soundness of banks. The Financial Conduct Authority ( FCA) regulates how banks conduct themselves in financial markets and in dealings with clients. The Financial Policy Committee ( FPC), operating within the Bank of England, functions as the macroprudential regulator for the UK financial...
Banking & Finance frequent tasks tool Lending Term sheets, confidentiality and mandate letters; facility agreements; guarantees; security over assets (land, shares, bank accounts, receivables, IP, goods); hedging and intercreditor arrangements; conditions precedent, reliance and legal opinions. Signing and execution Deeds and simple contracts, electronic and virtual execution, company formalities, execution checklists and guidance on instructing a notary. Perfecting and registering security Companies House registrations (including MR01 and overseas filings), steps to perfect, specialist registries for land, ships, aircraft and IP, and giving notice of assignments. Amendments, waivers and consents Amendment and restatement mechanics, guarantee confirmations, waiver and consent processes, and reservation of rights. Acquisition, asset and project finance Leveraged term sheets and mandates; aviation and shipping security/registration; project finance documents, security, direct agreements and key contract considerations. Real estate finance Negotiating term sheets, LMA real estate features, security, tacking of advances and substitution. Debt capital...
This Practice Note provides high-level guidance on the administration regimes for UK banks, investment firms, building societies and investment banks under: the Banking Act 2009 ( BA 2009) the Building Societies ( Insolvency and Special Administration) Order 2009, SI 2009/805 ( Building Societies Order 2009) the Investment Bank Special Administration Regulations 2011, SI 2011/245 ( IB Regulations 2011) Banking Act 2009 BA 2009 was devised to reinforce the resilience of the UK financial system and to promote financial stability by bolstering depositor protection and introducing mechanisms to tackle banks in difficulty. Among other measures, BA 2009 established a special resolution regime ( SRR). The SRR confers powers on HM Treasury, the Prudential Regulation Authority ( PRA), the Financial Conduct Authority ( FCA) and the Bank of England ( Bo E) to address issues concerning banks, banking group companies, investment firms, building...
Publication and approval In this Practice Note, ‘bank’ denotes a UK institution authorised under Part 4A of the Financial Services and Markets Act 2000 ( FSMA 2000) to conduct the regulated activity of taking deposits (as defined by FSMA 2000, s 22, read with Schedule 2 and any order made under FSMA 2000, s 22). Any later references to ‘bank’ also cover a resolution company. Following the failure of Silicon Valley Bank, the government consulted on additional reforms and, in May 2025, enacted the Bank Resolution ( Recapitalisation) Act 2025 (see: LNB News 19/07/2024 30). These changes are not confined to smaller institutions: from 16 July 2025 they extend to banks of any scale (subject to meeting the other entry criteria) to enable recapitalisation of in-scope entities using FSCS monies rather than taxpayer funding, thereby lowering the likelihood that small bank failures give rise to calls on...
Practice Note In this Practice Note, the term ‘bank’ denotes a UK institution authorised under Part 4A of the Financial Services and Markets Act 2000 ( FSMA 2000) to undertake the regulated activity of accepting deposits (as defined by FSMA 2000, s 22, read with Schedule 2 and any order under FSMA 2000, s 22), and any mention of ‘bank’ below also covers a resolution company. In the wake of Silicon Valley Bank’s failure, the government consulted on additional reforms and, in May 2025, passed the Bank Resolution ( Recapitalisation) Act 2025 (see: LNB News 19/07/2024 30). These changes are not confined to smaller banks and, from 16 July 2025, apply to banks of any size, provided the other entry conditions are met (see Practice Note: Bank resolution reforms under the Bank Resolution (...
IP COMPLETION DAY: At 11pm ( GMT) on 31 December 2020, the Brexit transition/implementation period that followed the UK’s withdrawal from the EU comes to a close. In UK law this moment is termed ‘ IP completion day’. From that point, core transitional arrangements end and significant changes start to take effect across the UK’s legal framework. This note provides guidance on areas affected by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for lending lawyers? [ Archived]. BREXIT: From 31 January 2020, the UK is no longer an EU Member State, but entered an implementation period during which, for many purposes, it continues to be treated by the EU as a Member State. As a third country, the UK cannot participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the...
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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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