This Practice Note sets out the circumstances in which an extension of time may be granted, upon application of a party, under section 12 of the Arbitration Act 1996 (AA 1996) to a contractual time period for commencing or starting arbitration proceedings under English law. The Practice Note considers the 'reasonable contemplation' test applied by the court under AA 1996, s 12(3)(a), the first basis for an order granting an extension. The Practice Note also considers the second basis for an extension, namely where conduct of one party makes it unjust to hold the other party to the strict terms of the provision in question (AA 1996, s 12(3(b)).
This Practice Note considers the types of arbitral awards that can be made or issued in (international) arbitration proceedings, including final, ‘interim’, provisional, default and consent awards. It sets out the requirements of an award and the remedies that the tribunal may order. It also deals with the date of the award (which is important for appeal and challenge purposes), the way in which notice of the award is given and the effect of the award. The Practice Note also covers costs, which may be dealt with in a separate award after the tribunal has made its decision on liability.
This Practice Note considers the ‘doctrine of separability’ of arbitration agreements in international arbitration and reflects upon the approach adopted in several key arbitration jurisdictions.
This Practice Note considers the background and importance of the UNCITRAL Model Law on International Commercial Arbitration (the Model Law). It addresses what the Model Law is, its key provisions and the relevance of the Model Law to English lawyers.
This Practice Note provides details on climate change and sustainability issues facing the financial sector, including issues relating to biodiversity and nature. It provides an introduction to the area, setting out why climate change and sustainability is such a hot topic and explains how that has affected the financial sector especially when dealing with risk and financial stability. The Practice Note provides information on the global and European policy and legislative initiatives in this area, such as the Paris Agreement 2015, Sustainable Development Goals (SDGs), Principles for Responsible Investment (PRI), Principles for Responsible Banking (PRB), Task Force on Climate-related Financial Disclosures (TCFD), Task Force on Nature-related Financial Disclosures (TNFD), Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR), Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investment and amending Regulation (EU) 2019/2088 (Taxonomy Regulation) and Regulation (EU) 2019/2089 amending Regulation (EU) 2016/1011 as regards EU climate transition benchmarks, EU Paris-aligned benchmarks and sustainability-related disclosures for benchmarks (Low Carbon Benchmark Regulation). Policy developments, alongside regulatory and legislative measures in the UK level are also covered, as well as developments from key authorities such as the Prudential Regulatory Authority (PRA).
This Practice Note examines issues to consider when taking security over trust assets, including the power of trustees to borrow and grant security, issues to consider if the secured assets include land, and regulatory and documentary considerations
This Practice Note explains how to take security over the assets of a charity. It discusses charity structures and how they impact on the nature of security taken, points to note when taking security over land, negotiation and drafting points and registration and enforcement issues
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