The following Share Incentives Q&A provides comprehensive and up to date legal information covering:
Although the courts have held that the Companies Act 2006 (CA 2006) does not give a technical definition of ‘financial assistance’, CA 2006 does provide examples of the types of transactions which constitute financial assistance. Looking at these, we consider it unlikely that there is any financial assistance in the given scenario.
In regard to the point of whether the grant of an option to a non-executive director (NED) on this basis could fall within CA 2006, s 677(1)(a) as a gift, at least to the extent of the difference between the shares’ nominal value and their market value, it could be argued that a distinction needs to be made between where the shares being used to satisfy the option are being issued by the company and where the shares are being purchased in the mar
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The offence of causing grievous bodily harm with intentWounding or causing grievous bodily harm (GBH) with intent is triable only in the Crown Court on indictment. Elements of the offence Under the Offences against the Person Act 1861 (OATPA 1861), the prosecution must prove the defendant unlawfully
This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from early 2013 to January 2016. For the latest LMA developments since January 2016, see Practice Note: Loan Market Association (LMA)—latest news on
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
Definition of automatismAn act is done in a state of automatism if it is done by the body without control by the mind, (eg it is a spasm or a reflex), or if it is done by a person who is not conscious of what they are doing. The act may be described as involuntary, but will not be regarded as such
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