CMS

This Practice Note looks at the legal issues raised when seeking to amend/alter/modify a pension scheme’s power of amendment. It also looks at the circumstances in which it may or may not be possible to make retrospective changes to a pension scheme’s trust deed and rules.

This Practice Note introduces the concept of corporate governance and in particular the UK approach to corporate governance in relation to share schemes. This Practice Note examines both the regulatory approach to corporate governance in the UK and the institutional guidelines issued by some of the main bodies including the Investment Association (IA), the Pensions and Lifetime Savings Association (PLSA) (formerly called the National Association of Pension Funds (NAPF) and the Pensions & Investments Research Consultants (PIRC). Finally the Practice Note looks at how companies monitor their compliance with the UK Corporate Governance Code and how the corporate governance regime differs in the UK for financial services firms. This Practice Note is written in partnership with Graham Muir and Dilpa Raval of CMS.

Produced in partnership with Graham Muir and Dilpa Raval of CMS. This Practice Note on share incentives (also known as share schemes) gives an introduction to Enterprise Management Incentive options (EMI options).

Produced in partnership with Graham Muir and Dilpa Raval of CMS. This Practice Note on share incentives (also known as share schemes) gives an introduction to HMRC approved Share Incentive Plans (SIPs).

Produced in partnership with Graham Muir and Dilpa Raval of CMS. This Practice Note on share incentives (also known as share schemes) gives an introduction to tax-advantaged share option schemes.

Produced in partnership with Graham Muir and Dilpa Raval of CMS. This Practice Note focuses on corporate issues that arise in the context of share incentives (also known as share schemes).

Produced in partnership with Graham Muir and Dilpa Raval of CMS. This Practice Note refers to the aspects of disguised remuneration legislation which apply to employee share incentives (also known as share schemes).

This Practice Note sets out some of the key considerations for a business before it decides to commence business operations in Chile.

This cross border Banking & Finance guide provides a summary of the key issues for lenders providing commercial loan facilities in England and Wales including loan markets and recent developments, lending, security and guarantees, enforcement, intercreditor issues and governing law and disputes

This Practice Note considers the equitable remedies potentially available in contractual disputes, including the remedies of specific performance, declaratory relief, claims for rectification, for rescission, when injunctive relief may be available and when the court may award restitutionary damages.

This Practice Note focuses on flexible apportionment arrangements (FAA) and in particular the requirements prescribed by the Occupational Pension Schemes (Employer Debt) Regulations 2005 SI 2005/678, reg 6E. This Practice Note also considers timing issues relating to flexible apportionments, the funding test to satisfy, ways in which flexible apportionments differ from scheme apportionments and issues relating to scheme rules, trustee costs, notifiable events and clearance.

This Practice Note explores the key features of group personal pension (GPP) schemes (a type of defined contribution (DC) scheme often referred to as a contract-based scheme), including their distinction from occupational pension schemes and other personal pension schemes and the advantages and disadvantages to employers of using such schemes for the provision of pension benefits for employees.

This Practice Note focuses on the group restructuring exemptions provided by the Occupational Pension Schemes (Employer Debt) Regulations 2005, SI 2005/678, regs 6ZA to 6ZD. namely the general easement and the de minimis easement. In particular, this note looks at the steps to follow for such easements to apply, the liabilities to be taken into account, the six-year look back period and issues relating to trustee costs.

This Practice Note looks at the different types of restrictions under an occupational pension scheme's power of amendment which may impact upon the ability of trustees and sponsoring employers to make changes to the scheme's trust deed and/or rules. It considers the common type of restrictions and the impact of scheme wind up on the power of amendment.

This Practice Note looks at investment-regulated pension schemes (IRPSs), a particular category of registered pension schemes introduced by the Finance Act 2004 that are subject to additional controls on the asset classes that can be held as investments. In particular, this Practice Note covers what an IRPS is, the meaning of taxable property (residential property and tangible moveable property), the circumstances in which taxable property is held directly and indirectly, the circumstances in which indirect holdings constitute genuinely diverse commercial vehicles, and the tax charges that apply where an IRPS acquires a direct or an indirect holding in taxable property which is not held through a genuinely diverse commercial vehicle.

This Practice Note looks at the framework surrounding investments in personal pension schemes (sometimes referred to as contract-based schemes). In particular, this note looks at the tax treatment of investment income and gains, and tax-related investment restrictions, including the impact of provisions relating to unauthorised member payments.

This Practice Note considers the general provisions in the Convention on Jurisdiction and the Recognition and Enforcement of Judgments in Civil and Commercial Matters signed at Lugano on 30 October 2007 (the Lugano Convention 2007). It sets out the background to the convention, when it applies and the contracting states to the Convention. It explains the relevance to understanding the Convention of the case law construing both the Convention on Jurisdiction and the Enforcement of Judgments in Civil and Commercial Matters signed at Brussels on 27 September 1968 (the Brussels Convention) and Regulation (EC) 44/2001 of 22 December 2000 on Jurisdiction and the Recognition and Enforcement of Judgments in Civil and Commercial Matters (Brussels I). The Practice Note then covers the scope of the Convention, the general rule in relation to jurisdiction and exceptions to that rule.

This Practice Note considers the provisions in the Convention on Jurisdiction and the Recognition and Enforcement of Judgments in Civil and Commercial Matters signed at Lugano on 30 October 2007 (the Lugano Convention 2007) dealing with issues of insurance, consumer and employment claims.

This Practice Note considers the general provisions in the Convention on Jurisdiction and the Recognition and Enforcement of Judgments in Civil and Commercial Matters signed at Lugano on 30 October 2007 (the Lugano Convention 2007). It looks at the effects of a jurisdiction agreement under Article 23 and then sets out the requirements for a valid jurisdiction agreement under Article 23. It then goes on to specifically consider the requirement for the agreement to be in writing or evidence in writing as well as situations in which the jurisdiction agreement is in a form which accord with the parties’ established practices or is in a form which accords with a widely known usage. The Practice Note considers exclusive and non-exclusive jurisdiction agreements and what parties must prove when seeking to rely on a jurisdiction agreements. Protection for weaker parties in insurance, employment and consumer contracts are also covered along with the position when dealing with trusts and also the position under Article 24 where a defendant enters an appearance before a Member State court. Finally, this Practice Note discusses the implications for the application of Article 23 and 24 (which apply regardless of domicile of the parties) once the UK is no longer bound by the convention as a result of its membership of the EU and is a so called third state for the purposes of the application of the convention.

This Practice Note considers the rules in the Lugano Convention 2007 relating to multiple proceedings. This covers both parallel and related proceedings and considers the approach where other proceedings have been commenced in a non-convention state.