The trustees or managers1 must prepare, and from time to time review and if necessary revise, a written statement of: (1) their policy for securing that the statutory funding objective2 is met; and (2) such other matters as may be prescribed3. This is referred to in Part 3 of the Pensions Act 20044 as a 'statement of funding principles'5. The statement must, in particular, record any decisions by the trustees or managers as to: (a) the methods and assumptions to be used in calculating the scheme's technical provisions; and (b) the period within which, and manner in which, any
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IntroductionShari'ah (also Sharia, Shariah or Shari’a) (literally, in Arabic, 'the path towards the watering place') or Islamic law is the legal system of the religion of Islam that sets out a system of duties or code of conduct for individuals to follow so that they may live their life in a
This Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the lack of privity, a contract has an indirect effect on a third
Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a members' voluntary liquidation (MVL) and where/when is it typically used?Before the members can vote on a
Issue estoppel is a sub-species of the res judicata doctrine (see Practice Note: The doctrine of res judicata). In addition to the general key requirements for establishing a res judicata (see Practice Note: Key requirements to establish a res judicata), this Practice Note considers the specific
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