The following Environment practice note provides comprehensive and up to date legal information covering:
11 pm (GMT) on 31 December 2020 marked 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 came to an end and significant changes began to take effect across the UK’s legal regime.
From 1 January 20201 there is a new ODS quota system. Businesses that produce, import of export ODS, or products containing ODS, need a GB quota to place them on the GB market and an EU quota to place them on the EU and Northern Ireland market. For more on the position in NI, see Practice Note: What does the Northern Ireland Protocol mean for the application of environmental law?. Businesses have to register and apply for a quota on the GB ODS system. The registration and application window for 2021 quota applications closed on 15 January 2021.The Environment Agency will notify successful applicants of how much GB quota has been allocated from 1 January 2021. A GB licence is also needed to import or export ODS and applications is via the GB ODS system. If ODS exported from
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Issue of redeemable sharesA limited company that proposes to issue redeemable shares must comply with the provisions of the Companies Act 2006 (CA 2006).Why do companies issue redeemable shares?A company may wish to issue redeemable shares so that it has an alternative way to return surplus capital
AML and counter-terrorist financing—source of funds and source of wealthSource of funds and wealth was a key focus of the SRA’s Preventing Money Laundering and Financing of Terrorism thematic review, published in March 2018. Its findings included that:•most firms understood the distinction between
No deal Brexit—jurisdiction (UK and the Lugano Convention) [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note has been produced in partnership with Guy Pendell, Liz Williams and Kushal Gandhi of CMS.This Practice Note covers the situation where the UK
Dawn raid—who can raid my organisation and why?IP 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
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