Where land constituting or included in an agricultural unit1 is affected by subsidence damage2, an occupier displaced3 from the land has a right in certain circumstances, to receive a farm loss payment if, by reason of deterioration due to the damage in the condition of the land, the land cannot profitably be used for agricultural purposes4. If any person in occupation of the agricultural unit who has an owner's interest5 is displaced from the whole, or a sufficient part6, of the land affected by the subsidence damage and, not more than three years after the date of displacement, he
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Definition of automatismAn act is done in a state of automatism if it is done by the body without control by the mind, (eg it is a spasm or a reflex), or if it is done by a person who is not conscious of what they are doing. The act may be described as involuntary, but will not be regarded as such
This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
The roles of nominated officer and money laundering reporting officerA nominated officer is an individual who is nominated by a firm to receive disclosures under Part 7 of the Proceeds of Crime Act 2002 (POCA 2002) or Part III of the Terrorism Act 2000 (TA 2000)—see Requirement to appoint a
STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose significant limitations on the ability for a creditor to seek a winding-up order against a company. For further reading, see Practice Note: Corporate
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