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GLOSSARY

Assent definition

Published by a LexisNexis Private Client expert

What does Assent mean?

A method of transfer of estate property only available to personal representatives (PRs). An assent activates the gift of estate property to the beneficiary and, after assent, the PRs hold the asset on trust for the beneficiary until any further formalities to transfer the legal title have been complied with.

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Re-registration of a public limited company to a private and unlimited company—checklist

Re-registration of a public limited company to a private and unlimited company—checklist This Checklist is a quick guide to the steps to be taken and the documents to be prepared in order for a public limited company to re-register as a private and unlimited company under Part 7 of the Companies Act 2006 (CA 2006), covering: • Preliminary considerations • Documentation • Meetings and procedures • Companies House filings and certificates • Cancellation of listing and trading—additional matters, and • Post-registration matters Preliminary considerations Step Notes/Resources Tick box when step complete or matter considered Is the company fully aware of the implications of the company becoming unlimited? In particular, the members and directors should be aware that:(1) an unlimited company is not required to file accounts with Companies House(2) an unlimited company is not restricted by capital maintenance rules, and, crucially(3) there is no limit on the liability of the members of an unlimited company, so the members must be willing to financially stand behind the company CA 2006,...

Arbitration—IP completion day—checklist [Archived]

Arbitration—IP completion day—checklist [Archived] ARCHIVED: This Checklist has been archived and is not maintained. This Checklist considers the impact of Brexit on commercial arbitration law and practice in England and Wales after IP completion day, ie the end of the transition or implementation period provided for in Article 126 of the Withdrawal Agreement 2020 which began on exit day (ie 11 pm on 31 January 2020, as defined in section 20 of the European Union (Withdrawal) Act 2018) and ends on IP completion day. IP completion day is defined as 31 December 2020 at 11 pm (pursuant to section 39 of the European Union (Withdrawal Agreement) Act 2020). On 24 December 2020, the European Commission and UK government announced an agreement in principle on the legal terms of the future EU-UK relationship. The Trade and Cooperation Agreement (TCA), and associated agreements, were agreed at the eleventh hour, leaving little time to put in place the necessary legal and practical arrangements to make the deal fully operational on 1 January...

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Progress of a Bill in UK Parliament

Progress of a Bill in UK Parliament The flowchart below outlines the progress of a Bill from consultation to Royal Assent. Some points to note: • Bills usually commence in the House of Commons but can start in either House • Pre-legislative scrutiny—draft Bills may be consulted on or considered by a committee prior to first reading • First reading in both chambers is essentially a formality • Second reading in both chambers is the key political debate on the principle of the Bill, and in the House of Lords is subject

Maintaining the PSC register—flowchart

Maintaining the PSC register—flowchart View or print a full size PDF version: The flowchart summarises the main steps for a typical company in identifying people with significant control (PSCs) or relevant legal entities (RLEs) so as to update the company’s PSC register and provide details to the Registrar of Companies in relation to the central register. Note however that eligible Scottish partnerships (which are covered by the PSC regime) are not required to keep a PSC register of their own but are only required to deliver PSC information to Companies House for the central register. One of the corporate forms covered by the PSC regime until the end of the Brexit transition period was the Societas Europaea (SE). However any SE still registered in the UK at the end of transition period automatically converted into a UK Societas. For further details on the conversion of SEs to UK Societas see Practice Note: UK Societas. The Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) received

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Varying public contracts

Varying public contracts Stop Press: On 24 February 2025, the main provisions of the Public Procurement Act 2023 (PA 2023) come into force. We are reviewing and updating our content accordingly. Note, however, that procurements begun on or after 24 February must be carried out under PA 2023, whereas those begun under the previous legislation (the Public Contracts Regulations 2015 (PCR 2015), the Utilities Contracts Regulations 2016, the Concession Regulations 2016, and the Defence and Security Public Contracts Regulations 2011) must continue to be procured and managed under that legislation. For information, see Practice Note: Key Implications of the procurement Act 2023 for Construction Lawyers. Brexit impact—public procurement The UK public procurement regime derives from EU public procurement laws, and is therefore impacted by the UK’s withdrawal from the EU. For general updates on the process and preparations for Brexit, see Practice Note: Brexit timeline. For further reading on the impact of Brexit on public procurement, see Practice Note: Brexit—the implications for public procurement [Archived]. Of particular relevance to the variation of public contracts are the...

Digital Planning in England

Digital Planning in England Note that this Practice Note was last updated in April 2025. Introduction In October 2023, the Levelling-up and Regeneration Act 2023 (LURA 2023) gained Royal Assent and became the first legislation to seek to define data standards and data software. Since then, the intersection of planning and digitisation has only increased in scale and scope. In the last four months, the government has published the ‘AI Opportunities Action Plan’, has issued a policy statement on the Data Use and Access Bill, while the forthcoming Cyber Security and Resilience Bill will have digital implications for energy and transport networks and smart city initiatives. The inexorable progress towards automation and digitisation has many benefits: diverting human resources to where they are most useful, extending the reach of the planning process and improving participation, and helping to understand and mitigate environmental issues. It also challenges existing norms on issues including equalities, human rights, public sector decision-making and probity in planning. Given the scale and scope of coming changes, it...

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Explanatory note for a client's Will—fully discretionary

Explanatory note for a client's Will—fully discretionary STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime. Finance Act 2025 (FA 2025) which received Royal Assent on 20 March 2025, implements legislation to abolish the remittance basis of taxation and replace it with a residence-based regime, commencing on 6 April 2025. FA 2025 also replaces domicile as the key factor in establishing liability to inheritance tax. Other changes include amendment of the rules determining excluded property status, the abolition of protected settlements status of offshore trusts, and changes to overseas workday relief. For information on these changes, see Practice Notes: The abolition of the remittance basis of taxation from 2025–26 and A new residence-based regime for IHT from 2025–26. See also: Finance Bill Tracking Service: Key dates (Finance Bill 2025) and Finance Act 2025. [Your ]Will—[explanatory note] This [explanatory note] explains the main provisions of your Will. Please read this [explanatory note] and your Will carefully. If, after reading this [explanatory note] and your Will, you conclude that...

Explanatory note for a client's Will—to spouse on flexible life interest trust with remainder on discretionary trust

Explanatory note for a client's Will—to spouse on flexible life interest trust with remainder on discretionary trust STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime. Finance Act 2025 (FA 2025) which received Royal Assent on 20 March 2025, implements legislation to abolish the remittance basis of taxation and replace it with a residence-based regime, commencing on 6 April 2025. FA 2025 also replaces domicile as the key factor in establishing liability to inheritance tax. Other changes include amendment of the rules determining excluded property status, the abolition of protected settlements status of offshore trusts, and changes to overseas workday relief. For information on these changes, see Practice Notes: The abolition of the remittance basis of taxation from 2025–26 and A new residence-based regime for IHT from 2025–26. See also: Finance Bill Tracking Service: Key dates (Finance Bill 2025) and Finance Act 2025. [Your] Will—[name of testator]—explanatory note This explanatory note explains the main provisions of your Will. Please read this explanatory note and your Will carefully....

Dive into our 44 Precedents related to Assent

Is there a difference between ‘I have read and understood the terms’ and ‘I accept the terms in a business to business contract’?

Is there a difference between ‘I have read and understood the terms’ and ‘I accept the terms in a business to business contract’? The implications of using different terminology are likely to depend on the specific circumstances as interpreted by the relevant court. This Q&A considers the implications of using different terminology in a contract in the context of both contract formation and contract interpretation. Contract formation A contract will only be capable of being enforced if it an offer has been accepted. An acceptance is a final and unqualified expression of assent to the terms of an offer. This means that the following will not generally be sufficient to constitute acceptance: • mere acknowledgement of receipt of the offer • assent to an offer, which contains two alternative proposals • a request for information in relation to the terms of the offer For further guidance on offer and acceptance generally, see Practice Notes: Forming enforceable contracts—offer and Forming enforceable contracts—acceptance. Contract interpretation In interpreting a contract,...

Is it possible for the articles of association of a company to give a person, other than one of its members, the right to vote on a members' resolution?

Is it possible for the articles of association of a company to give a person, other than one of its members, the right to vote on a members' resolution? It is not possible for the articles of association of a company to validly give a person who is not either one of its members or acting on behalf of one of its members (ie as their proxy or corporate representative as permitted by the Companies Act 2006 (CA 2006)) the right to vote on a members' resolution. The members of a company are the subscribers to its memorandum of association and every other person who agrees to become a member of the company, and whose name is entered in its register of members. CA 2006, Pt 13 prescribes the types of members' resolutions that may be passed by a company and the way in which such members' resolutions may be passed. Those provisions override any contrary provisions in a company's articles, unless otherwise expressly stated in...

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Practice Compliance weekly highlights—12 June 2025

This week's edition of Practice Compliance weekly highlights includes: news that UK lawyers are considering a sanctions U-turn on Russia, the ex-Lord Chancellor is pushing for modern sanctions rules to enhance governance, a news analysis highlighting compliance lessons from an art dealer’s terrorist financing plea, a Lloyd's broker's impending 2027 trial over a US$3m bribery scheme and the passing of the Data (Use and Access) Bill through Parliament.

IP weekly highlights—12 June 2025

This week's edition of IP weekly highlights includes: a hand-picked summary of news analysis, updates and new content from the world of IP. These highlights focus on the key rights of copyright and associated rights, database rights, trade marks and passing off, designs, and patents, as well as covering issues relating to confidential information, know-how R&D and IP disputes all mainly from a UK and European perspective.

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