For the purpose of providing assistance to persons made redundant by the closure of coal mines or coking plants, the reduction in the number of persons employed at them or the consequent reduction in ancillary services and facilities, provision was made for the Secretary of State, by order, to make a scheme providing for payments, out of money provided by Parliament, to or in respect of prescribed classes of persons who at any time between 17 July 1967 and 29 March 1987 (1) were employed at a coal mine or at any place of a prescribed class used for
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This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
ContractWhere a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise may be:•joint•several, or•joint and severalWhether an undertaking is joint, several, or joint and several in contract is a question of construction
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
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