(1) In this Chapter—
“enforcement authority” has the meaning given by section 93(3);
“operator”, in relation to a secondary ticketing facility, means a person who—
(a) exercises control over the operation of the facility, and
(b) receives revenue from the facility,but this is subject to regulations under subsection (2);
“organiser”, in relation to an event, means a person who—
(a) is responsible for organising or managing the event, or
(b) receives some or all of the revenue from the event;
“parent undertaking” has the meaning given by section 1162 of the Companies Act 2006;
“secondary ticketing facility” means an internet-based
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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
This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a members' voluntary liquidation (MVL) and where/when is it typically used?Before the members can vote on a
ContractWhere a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise may be:•joint•several, or•joint and severalWhether an undertaking is joint, several, or joint and several in contract is a question of construction
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