Some mining leases contain a clause empowering the lessee to determine the tenancy as soon as the minerals are exhausted or in some other event1. To determine the term effectively, all conditions, such as giving notice2 or the performance of covenants or otherwise, to which the exercise of the power is made subject must be strictly observed3. A power for the lessee to give notice at any time authorises him to give a notice expiring during the currency of a year4. A power to determine in case of accident is not exercisable on account of an accident happening before
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Dividends involve a distribution of cash or a distribution of non-cash assets (known as a distribution in kind or a distribution in specie).A scrip dividend (in a tax context, sometimes referred to as a stock dividend) allows a shareholder to receive new shares in a company as an alternative to a
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
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible fixed assets. Note, however, that certain intangible fixed assets are excluded from the regime, see Practice Note: Excluded intangible fixed
This Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions typically found in an escrow
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