Corporate weekly highlights—8 November 2018

Corporate weekly highlights—8 November 2018

This week’s edition of Corporate highlights includes news and analysis of various draft statutory instruments issued under the European Union (Withdrawal) Act 2018 as well as the changes being proposed to the Takeover Code as a result of Brexit. It also provides details of the FRC’s work in relation to corporate reporting, including three thematic reviews of accounts and reports, the OECD’s analysis of global corporate governance frameworks, the launch of the Cost Transparency Initiative and a look at why environmental social governance matters.

In this issue:


Brexit SI Bulletin—drafts laid for sifting on 31 October 2018

Under the European Union (Withdrawal) Act 2018 (EU(W)A 2018), before certain statutory instruments (SIs) are formally laid in Parliament, they have to go through a preliminary sifting process to determine the appropriate parliamentary procedure. The SIs are those that the government proposes to introduce using the negative procedure (whereby instruments are laid in Parliament after being made and become law without debate unless there is an objection from either House). The Commons European Statutory Instruments Committee (ESIC) and the Lords Secondary Legislation Scrutiny Committee (SLSC) are responsible for the sifting process, which is outlined in EU(W)A 2018, Sch 7, para 3. The committees have ten sitting days (from the day after each SI is laid for sifting) to scrutinise the provisions and make recommendations on whether the negative procedure is the appropriate parliamentary procedure.

The SIs laid for sifting on 31 October 2018 were:

  1. The Employment Rights (Amendment) (EU Exit) Regulations 2018
  2. The Employment Rights (Amendment) (Northern Ireland) (EU

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