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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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Introduction The planning regimes of England and Wales have diverged markedly in recent years, both in policy and statute. In Wales, planning is a wholly devolved responsibility. This divergence began in 2000 with the creation of the then Welsh Assembly Government. Although the Government of Wales Act 1998 transferred most planning matters, it was the second devolution referendum in 2011 that conferred primary law-making powers, paving the way for the Planning ( Wales) Act 2015 ( P( W) A 2015). That Act has further widened the gap between Welsh planning law and that elsewhere in the UK. P( W) A 2015 sets a statutory purpose for planning functions and clarifies the duty to pursue sustainable development under the Well-being of Future Generations ( Wales) Act 2015 ( WFG( W) 2015). Since March 2002, Welsh planning policy has been set out in Planning policy in Wales (...
CASE HUB NOTE—appeal lodged before the CAT in Case 1337/1/12/17 See the timeline and commentary for more detail. Case facts Outline A CMA investigation under Article 101 TFEU/ Chapter I into a cartel engaged in price‑fixing and market‑sharing for the supply of pre‑cast concrete drainage products ( Case 50299). Latest developments On 18 March 2021, the CMA reported that it had obtained legally binding disqualification orders from Mr Eoin Mc Cann and Mr Francis Mc Cann of FP Mc Cann Limited. Mr Eoin Mc Cann has given an undertaking not to serve as a director of any UK company for 12 years, and Mr Francis Mc Cann has undertaken not to do so for 11 years. Parties Stanton Bonna Concrete Limited and its parent companies Bonna Sabla SA, Consolis Finance SAS, Consolis SAS, and Consolis Group SAS (together, SBC) CPM Group Limited ( CPM) FP Mc Cann Limited ( FP Mc...
A standard project rests on an intricate web of contractual ties among the participants, for example the project company, equity investors, contractors, sub-contractors, off-takers and suppliers (see Practice Note: Project finance—key project parties). The instruments that govern these arrangements are usually called the ‘project documents’. For further detail on project documents generally, see: Project documents: issues for lenders—overview. In many transactions, a concession contract forms one of the key project documents. That concession contract sets the terms of the relationship between the host government (or governmental authority) and the project company... What are 'concessions' in the context of project finance transactions? Numerous projects feature some level of collaboration between the private sector and the public sector. According to the project structure, private parties may assume responsibility for scoping, design, financing, construction and/or operation of the project. Often, however, the government in the country where the...
ARCHIVED: An archived review from June 2013, undertaken by Airmic—a members’ association that supports individuals accountable for risk management and insurance within their own organisations—was produced with help from The Chartered Governance Institute ( CGI). It examines risk reporting across a selection of FTSE 350 companies and offers insights into the importance and advantages of comprehensive, detailed risk disclosure......
This month has brought draft rules reducing merger control thresholds in Germany for businesses placed under a reporting duty after a sector inquiry, the US House of Representatives passing a bill to raise HSR fees for higher-value deals, and the launch of a new simplified merger procedure in Slovenia. Germany—draft Competition Enforcement Act published Germany’s Federal Ministry for Economic Affairs and Climate Action ( Bundeswirtschaftsministerium, BMWK) has unveiled a draft ‘ Competition Enforcement Act’. Among other measures, it hands the Federal Cartel Office ( FCO) substantial enforcement tools for sector inquiries. A key reform permits the FCO to widen merger filing obligations where an inquiry suggests upcoming concentrations could impede competition in the relevant market. In such circumstances, firms can be required to notify all transactions that satisfy low domestic thresholds (€50m for the acquirer and €500,000 for the target). See further, Germany merger...
This month features a standstill and hold separate order by the Belgian Competition Authority against Proximus for a non-notifiable acquisition under abuse of dominance rules; amendments to Morocco’s merger control thresholds; the publication of draft Swiss legislation introducing, amongst other measures, a new exemption from the notification obligation; and the Federal Trade Commission in the USA proposing changes to the pre‑merger notification form and process. Belgian— BCA imposes standstill and hold separate order under abuse of dominance rules In our March 2023 monthly merger update, we noted that the Belgian Competition Authority ( BCA) had launched an ex post investigation, based on abuse of dominance rules, into Proximus, the incumbent Belgian telecoms operator, following its recent acquisition of EDPnet. The transaction did not meet Belgian merger control thresholds owing to EDPnet’s turnover. This move follows the Court of Justice’s Towercast judgment of 16 March 2023, which...
This month brought a revival of the FTC’s decade-old policy compelling acquiring parties subject to an FTC merger enforcement order (ie consent decree) to secure prior approval for any subsequent transaction for at least 10 years, the withdrawal of vertical merger guidelines and related commentary, and updates designed to streamline its second request process. Internationally, Hungary introduced a merger review exemption for state-owned capital funds, Kuwait revised its notification thresholds, the Egyptian Competition Authority announced its intention to enforce post-merger obligation requirements, and Taiwan tabled proposed amendments to its merger control regime... United States— FTC votes to withdraw Vertical Merger Guidelines and Commentary On 15 September 2021, under the new leadership of Chair Lina Khan, the Federal Trade Commission held its third open meeting. As anticipated, the FTC voted 3–2, along party lines, to withdraw approval of: (i) the Vertical Merger Guidelines (...
Cross-border tools By its very nature, the EU Recast Regulation on Insolvency is binding in law and directly applicable across all EU Member States, except Denmark (which opted not to participate in this regulation). Following Brexit, the principal operative provisions on automatic recognition under the EU Recast Regulation on Insolvency are no longer applicable in the UK (see Practice Note: Brexit—impact on Recast Regulation on Insolvency [ Archived]). However, other Member States continue to apply the EU Recast Regulation on Insolvency where its requirements are met. The UNCITRAL Model Law on Cross- Border Insolvency (the UNCITRAL Model Law on Cross- Border Insolvency) has no direct effect; nonetheless, countries around the world may decide to adopt it, in whole or in part, with or without modifications (see Practice Notes: List of countries which have adopted the UNCITRAL Model Law on insolvency or are...
This table sets out concluded investigations by Germany’s competition authority (the Bundeskartellamt— BKa) into alleged cartels, anti-competitive agreements, abuses of dominance ( Articles 101/102 TFEU and national counterparts) and sector inquiries since 2015. Note—only decisions placed in the public domain appear here. 2025 Investigations under Article 101 TFEU/ Section 53 of the German Competition Act Case name, companies under investigation and industry Comparison portals — Check24 Issues Restrictive agreements — MFN clauses Developments Commitments accepted — 24/02/2026 Investigations under Article 102 TFEU/ Section 19 of the German Competition Act No Article 102 TFEU/s19 decisions have been issued by the BKa in 2026. 2025 Investigations under Article 101 TFEU/ Section 53 of the German Competition Act Case name, companies under investigation and industry Road repair — 12 undertakings (listed here) — Sonova Consumer electronics — Sennheiser — Sonova Issues Restrictive agreements — bid rigging and...
This Practice Note examines general partnerships established under the Partnership Act 1890. It sets out the key statutes and case law that shape the legal framework for partnerships. It also explains how to assess whether an individual is a partner, when partners may properly be regarded as employees or workers, the extent of a partner’s authority, partners’ liability for the firm’s debts and obligations, and the treatment of partnership property... Sources of partnership law The principal source of law for a general partnership governed by English law (as distinct from a limited liability partnership, a limited partnership, or a partnership incorporated under Scottish law) is the Partnership Act 1890 ( PA 1890), which has remained largely unchanged for more than a century. However, it is not a comprehensive code: it expressly preserves the rules of equity and common law applicable to...
This Practice Note outlines prevailing market practice on loss reserves, insurance claims data and loss development triangles within general insurance. It highlights why these datasets matter to insurers and offers guidance to lawyers on the relevance of claims data in insurance disputes. The Note also clarifies key reserving terminology, such as incurred claims, outstanding loss reserves ( OSLR), incurred but not reported ( IBNR) and incurred but not enough reported ( IBNER). Reserving for life and health insurance relies on very large bodies of mortality and morbidity statistics. Setting such reserves is usually a more mathematically driven exercise than for many forms of general insurance. The calculation of life and health reserves falls outside the scope of this Practice Note, which is focused on general insurance. References here to ‘insurers’ should be read as including ‘reinsurers’ unless the context indicates...
This archived Practice Note summarises the employment law pledges and policy statements of the Labour Party, the Conservative Party and the Liberal Democrats ahead of the General Election on 4 July 2024. Employment-related commitments are arranged by topic in tables. For reference, links to other parties’ manifestos are also included—see: Other parties’ manifestos, below. Parliamentary process Prime Minister Rishi Sunak sought, and obtained, the King’s approval to dissolve Parliament and announced a general election for 4 July 2024. Parliament was prorogued on 24 May 2024 and dissolved on 30 May 2024. The timeline is: 22 May: PM asked the King to exercise the prerogative to dissolve Parliament 22 May: King Charles agreed and the general election was announced 23 May: ‘ Wash-up’ period begins 24 May: Parliament is prorogued 25 May: Pre-election period of sensitivity begins (formerly...
Assimilated Regulation ( EU) No 649/2012 of the European Parliament and of the Council of 4 July 2012 concerning the export and import of hazardous chemicals (recast) ( GB PIC Regulation) Entry into Force: 1 January 2021 Subject: Hazardous substances, chemicals Background to the GB PIC Regulation Regulation ( EU) No 649/2012 concerning the export and import of hazardous chemicals (the EU PIC Regulation) supersedes the Prior Informed Consent Regulation ( EC) No 689/2008 on the export and import of dangerous chemicals and has applied since 1 March 2014. Its objectives are to give effect to the UN Rotterdam Convention on the Prior Informed Consent Procedure for Certain Hazardous Chemicals and Pesticides in International Trade, fostering shared responsibility and co-operative efforts in the international movement of hazardous chemicals, in order to protect human health and the environment from potential harm and to support the...
This Practice Note sets out when a premises licence is needed to authorise gambling activities. It outlines the categories of premises licences for each activity, the eligibility criteria, and the route to the licensing authority from submission and advertisement through to any hearing. It details the mandatory conditions attached to a premises licence, as well as discretionary conditions. It also addresses provisional statements and appeals against decisions of the licensing authority. A premises licence is required to provide gambling facilities at: casino premises bingo premises betting premises, including tracks and premises used by betting intermediaries adult gaming centres family entertainment centres Other than for a track, a premises licence cannot be granted if a premises licence already has effect for the same premises. A track includes: a horse-race course a dog track other premises where races or sports events take...
Introduction to Gafta 125 The Grain and Feed Trade Association ( Gafta) is a global body bringing together traders, brokers, superintendents, analysts, fumigators, arbitrators and other specialists across the international grain market. Its arbitration secretariat, based at the association’s London headquarters, oversees the conduct of arbitrations. Gafta issues a suite of standard form contracts, each containing an arbitration clause directing any disputes to be resolved under the Gafta rules. The preamble to Gafta 125 confirms that all disputes arising from contracts or agreements incorporating those rules must be referred exclusively to Gafta. This Practice Note explains how to start an arbitration under the Gafta Arbitration Rules No. 125 ( Gafta 125). Unless stated otherwise, references to the ‘ Rules’ in this Practice Note mean the Gafta 125 rules, which apply to contracts dated from 1 March 2022. For additional background on Gafta and...
This Practice Note sets out guidance on the continuing obligation of full and frank disclosure in financial proceedings, and the repercussions of any breach, including the court drawing adverse inferences. It also addresses the Supreme Court rulings in Sharland v Sharland and Gohil v Gohil, the professional obligation not to knowingly mislead the court by supplying incorrect or inaccurate information in relation to disclosure, and the disclosure of documents to and by third parties. General principles There is a continuing duty to give complete, candid and clear disclosure in financial cases. That obligation covers all material facts, documents and any other information relevant to the issues, together with any material developments arising after initial disclosure. Such developments must be communicated to the court and the other party at the earliest opportunity. As Roberts J observed in AB v CD (para [165]), it is not for a party to...
ARCHIVED: This archived Market Standards trend report gives an update on market practice for the payment of dividends across the FTSE 350 in 2019 This archived Market Standards trend report, Dividends 2019, provides an overview of how FTSE 350 companies approached dividend payments in 2019. Featuring insights and expert commentary from Martin Webster, Partner at Pinsent Masons LLP, Jonathan Beastall, Senior Adviser at Pinsent Masons LLP, and the Investment Association, the analysis reviews practice across the index. The scope encompasses all FTSE 350 companies with a financial year ending between 1 July 2017 and 30 June 2018, which held their annual general meeting ( AGM) between 9 November 2017 and 10 December 2018 (the Research Period). The......
Scope of this Practice Note The core purpose of the Financial Services and Markets Act 2000 ( FSMA 2000) was to create and confer powers on the then Financial Services Authority ( FSA), following the government’s decision to introduce a single regulator for financial services in the UK. It serves as an overarching framework for financial services legislation and regulation within the UK. FSMA 2000 took effect on 1 December 2001, at which point the FSA became the sole regulator of the UK financial services industry. As part of government plans to reform the UK’s financial services regulatory architecture, the FSA was abolished on 1 April 2013 and its responsibilities were divided between two new bodies: the Prudential Regulation Authority ( PRA) and the Financial Conduct Authority ( FCA). FSMA 2000 remained the primary statute for the UK financial services industry, although the...
When a compensation claim is lodged with the Financial Services Compensation Scheme ( FSCS), the FSCS does not need the claimant’s permission to take an assignment of their rights while pursuing redress on their behalf. The FSCS may—and, for a deposit protection claim, must—make any compensation offer conditional upon the claimant assigning their rights to the FSCS. The FSCS can also be automatically subrogated to the claimant’s rights. The rationale for requiring an assignment is twofold: it stops a claimant from pursuing the same claim against another party, avoiding any betterment; and it allows the FSCS to maximise its recoveries. The FSCS pursues claims through insolvency practitioners, such as liquidators or administrators, where there is a realistic prospect of creditor dividends. When taking any assignment, the FSCS must tell the claimant that, if it chooses not to proceed with a claim, the claimant may make a...
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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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