Block transfer definition

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Obtaining permission to serve insolvency proceedings out of the jurisdiction—checklist

Obtaining permission to serve insolvency proceedings out of the jurisdiction—checklist Service out of the jurisdiction—the general position In many cases, the permission of the court may be required to serve insolvency proceedings out of the jurisdiction of England and Wales. For further reading, see Practice Note: Service of insolvency proceedings out of the jurisdiction. Applications seeking the court's permission to serve insolvency proceedings out of the jurisdiction are dealt with by Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, Sch 4, para 1(8), certain aspects of CPR 6 and the Practice Direction on Insolvency Proceedings (PDIP). When is permission to serve out of the jurisdiction required? The permission of the court will normally be required for documents in connection with insolvency proceedings (including applications, supporting evidence and orders) to be validly served on another party that is located out of the jurisdiction. IR 2016, SI 2016/1024, Sch 4, para 1(8) provides that CPR 6 applies to the service of documents out of the jurisdiction, with such modifications as...

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Normal minimum pension age and protected pension age

FORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and armed forces public service pension schemes).The Finance Act 2022 will also give members of registered pension schemes a right to take their benefits before age 57, if on or before 4 November 2021 they either had an ‘unqualified right’ to take benefits or were in the process of a substantive transfer to a scheme offering an unqualified right to a protected pension age of less than 57 on or before 4 November 2021. To benefit from this new 2028 protection, the rules of the pension scheme must have included (on 11 February 2021) an unqualified right to take the entitlement to scheme benefits before age 57.For further information, see Practice Note: Increasing the normal minimum pension age (NMPA) to 57—pensions impact.STOP PRESS: On 12 August 2024 the Pensions Administration Standards Association (PASA) published guidance on preparing for...

Increasing the normal minimum pension age (NMPA) to 57—pensions impact

Increasing the normal minimum pension age (NMPA) to 57—pensions impact Government decision to increase normal minimum pension age from 55 to 57 Following a period of consultation in 2021, the government decided to increase the normal minimum pension age (NMPA) from 55 to 57 with effect from 6 April 2028. The NMPA is the earliest age at which members may take their benefits (other than ill-health benefits) as authorised member payments under a registered pension scheme. The NMPA used to be set at 50 under the Finance Act 2004 (FA 2004) before it was changed on 6 April 2010 to 55. However, some members retained the right to take their pension before age 55. This is referred to in this Practice Note as the ‘pre-55 protected pension age’. For further information, see Practice Note: Normal minimum pension age and protected pension age. The government’s decision to increase the NMPA to 57 aims to reflect the increasing life expectancy which has led to people retiring later in life, as well as the rise in state pension age...

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Board minutes—takeover—completion of purchase of minority shareholders (‘squeeze-out’)—offeree

Board minutes—takeover—completion of purchase of minority shareholders (‘squeeze-out’)—offeree [insert full name of offeree] plc Minutes of a meeting of [a committee of] the board of directors of [insert full name of offeree] PLC (the Company) held at [insert place of meeting] on [insert date of meeting] at [insert time ] Present: [Insert names of the director(s) physically present][[Insert names of any directors present by telephone as permitted by the Company’s articles of association] (by telephone)] [[Insert names of any directors present by other means permitted by the Company’s articles of association] (by [insert other means])] [ In attendance: ] [[Insert names of anyone in attendance, who does not count towards the quorum for the meeting (eg the company secretary, any legal advisers)]] [ Apologies: ] [[Insert names of any directors / committee members who are unable to attend the meeting (if any)]] 1 Chair, notice and quorum [Insert name] was appointed Chair of the meeting. [The Chair drew the meeting’s attention to the...