The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:
The Financial Collateral Directive was first implemented in the UK under the Financial Collateral Arrangements (No 2) Regulations 2003, SI 2003/3226 first amended by the Financial Collateral Arrangements (No 2) Regulations 2003 (Amendment) Regulations 2009, SI 2009/2462 and subsequently amended by the Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010 which came into force on 6 April 2011. The main changes made by the 2010 Regulation include widening the definition of financial collateral to include credit claims. There is now also more clarity as to what constitutes possession and control of financial collateral and specifically, where financial collateral can be substituted by the collateral-provider. Following Brexit, The Financial Markets and Insolvency (Amendment and Transitional Provision) (EU Exit) Regulations 2019, SI 2019/341 also amend Financial Collateral Arrangements (No 2) Regulations 2003, SI 2003/3226 to strip out references to European law. In this note, the Financial Collateral Regulations refers to the Financial Collateral Arrangements (No 2) Regulations 2003 as amended.
The EC Financial Collateral Directive (the Directive), by its very nature, left individual member states free to implement it as they choose.
The implementing regulations have been in force in the UK since 26 December 2003 and aim to simplify the way security over shares and cash is: (i) created and (ii) enforced. The Directive also provides more certainty
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Parliamentary committeesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to
Highways, street works and statutory undertakersCoronavirus (COVID-19): This Practice Note contains guidance on matters that have temporarily been altered to assist in the management of the coronavirus (COVID-19) pandemic. For further information, see: Traffic Orders Procedure (Coronavirus)
Stay of proceedings—when can you apply to stay a claim?This Practice Note considers the question of when court proceedings can be stayed. It identifies scenarios in which a party may apply for a stay of proceedings, including to allow for: a jurisdictional challenge; arbitration; an attempt to
DateD [date]Parties1[name of Landlord] [of OR incorporated in England and Wales with company registration number [number] whose registered office is at] [address] (Landlord)2[name of Tenant] [of OR incorporated in England and Wales with company registration number [number] whose registered office
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