(1) The directors of an unlimited company are not required to deliver accounts and reports to the registrar in respect of a financial year if the following conditions are met.
(2) The conditions are that at no time during the relevant accounting reference period—
(a) has the company been, to its knowledge, a subsidiary undertaking of an undertaking which was then limited, or
(b) have there been, to its knowledge, exercisable by or on behalf of two or more undertakings which were then limited, rights which if exercisable by one of them would have made the company a subsidiary undertaking of it, or
(c) has the company been a parent company of an undertaking which was then limited.
The references above to an undertaking being limited at a particular time
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On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
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Call options are frequently used by developers to secure a right to buy land if planning permission is obtained. Taking an option provides the developer with time to make and pursue a planning application before having to commit to paying for the land. The developer's initial outlay will be limited
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