The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
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 arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for lending lawyers?
Shares are commonly offered as security for a loan in commercial lending transactions.
Practice Note: Taking security over shares explains how to take security over shares in general. This Practice Note looks at specific issues relating to taking security over shares held in CREST, the UK's clearing and settlement system.
This Practice Note explains:
the nature of registered shares and the difference between certificated and uncertificated shares
what CREST is and how shares can be held in CREST
how security can be taken over shares held in CREST
the particular issues that arise when taking security over shares in CREST and key considerations when documenting the security
perfection and priority issues when taking security over shares in CREST
how to enforce security over shares in CREST
Different considerations apply where security over shares held in CREST is being taken by a settlement bank—these
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This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
Commercial Property Standard Enquiries (CPSEs) are industry standard pre-contract enquiries used in commercial property transactions. CPSEs are endorsed by the British Property Federation and are free to use. The CPSEs include specific environmental enquiries at enquiry 15 and there are several
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.Note: this Practice Note does not deal with the
What is a third party debt order (TPDO)?Third party debt orders were previously known as 'garnishee' orders and operated under the regime provided for in CCR Ord 30 and RSC Ord 49 (now revoked). Although the rules in CPR 72 are new, many of the principles with which they are concerned are well
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