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GLOSSARY
Where a policy is written and claims are paid, by more than one insurer or reinsurer, under separate contracts of insurance.
GLOSSARY
Although used loosely to describe any two parties that invest alongside each other in the same company, this term has a special meaning when referring to limited partners in a fund. If a limited partner in a fund has co-investment rights, it can invest directly in a company that is also backed by the private equity fund. The institution therefore ends up with two separate stakes in the company—one indirectly through the fund; one directly in the company. Some private equity firms offer co-investment rights to encourage institutions to invest in their funds.
PRACTICE NOTES
A growing number of developers are announcing the successful project financing of their co-located battery storage projects. This is remarkable progress given that as recently as in 2018, grid scale batteries were regarded as a nascent asset class, and many financiers have written them off as unsuitable for project finance. This Practice Note discusses some of the key considerations for both lenders and developers seeking to project finance co-located battery storage projects. For more information on: • construction issues in relation to co-located battery storage projects, see Practice Note: Energy storage—construction issues • property considerations in relation to co-located battery storage projects, see Practice Note: Battery storage projects—property issues • planning considerations, including in relation to co-located battery storage, see Practice Note: The planning regime for energy storage in England and Wales • battery storage projects more generally, see Practice Notes: Scaling up energy storage—revenue opportunities in Great Britain and Energy storage technologies in the
GLOSSARY
In relation to server hosting, co-location is the provision of physical space for customers to locate their own servers. These servers remain controlled by the customer but can take advantage of facilities provided by the data centre such as environmental management (power, cooling), network management (fast connectivity, network resilience), physical security and disaster recovery / backup.
GLOSSARY
Mediation undertaken by two mediators—a common model is for one of the co-mediators to be a lawyer and the other a non-lawyer.
NEWS
Co-op has become the first retailer to publish a pay gap report based specifically on socioeconomic background. The report collected data submitted voluntarily from 48% of its 57,000 employees, finding a mean pay gap of 5.2% between those of a higher and of a lower socioeconomic background. Employees from a lower socioeconomic background are also less likely to progress into more senior positions, according to the data. As a result of the findings, Co-op has 'doubled down' on its Social Mobility Plan, including campaigning for the government to make socioeconomic background a protected characteristic under the Equality Act 2010. Co-op has also set a target of collecting 80% of socioeconomic employee data for the next 12 months.
GLOSSARY
1. An agreement between the operators of neighbouring nuclear sites establishing a framework within which all parties can secure compliance with their legal obligations (UK). 2. An agreement between States (or between a State and Euratom) that facilitates nuclear trade and collaboration (International).
PRECEDENTS
This Agreement is made on [insert day and month] 20[insert year] Parties 1 [Insert name of offeror] incorporated in [England and Wales] under number [insert company number] whose registered office is at [insert address] (the Offeror), and 2 [Insert name of offeree] incorporated in [England and Wales] under number [insert company number] whose registered office is at [insert address] (the Offeree) Recitals: (A) The Offeror intends to make a recommended [pre-conditional ]offer for the entire issued and to be issued ordinary share capital of the Offeree[, excluding any shares held in treasury,] (Acquisition), on the terms and subject to the conditions set out in the Announcement. (B) It is intended that the Acquisition will be effected by means of a scheme of arrangement of the Offeree pursuant to Part 26 of the Companies Act 2006 (Scheme), but the Offeror reserves the right, as set out in (and subject to the terms and conditions of) the Announcement and clause 7.3 of this agreement, to elect to implement the Acquisition by way of a takeover offer (Offer). (C) The parties have agreed to take certain
NEWS
Corporate Crime analysis: On 30 October 2020, court approval was given to a deferred prosecution agreement (DPA) between the UK’s Serious Fraud Office (SFO) and Airline Services Ltd (ASL). The agreement was approved by Mrs Justice May at a public hearing at Southwark Crown Court, making this the ninth DPA secured by the SFO since the mechanism was first introduced in early 2014. The DPA requires ASL to pay total financial orders of £2.979m and accept responsibility for three counts of failing to prevent bribery contrary to section 7 of the Bribery Act 2010 (BA 2010), in relation to the use of an agent (agent 1) to secure contracts with Lufthansa between 2011–2013 (relevant period). Quinton Newcomb, managing partner, Rubi Palmieri, associate, and Dilan Yaslak, senior paralegal, at Fulcrum Chambers analyse this latest DPA.
GLOSSARY
The form of Registered Society (formerly Industrial and Provident Society) provided for by the Co-operative and Community Benefit Societies Act 2014, which is in co-operative form and for member benefit.
PRACTICE NOTES
A co-operative or community benefit society (CCBS) (previously known as an industrial and provident society, or IPS) is a body corporate with limited liability that may be used by organisations to conduct a business either as a co-operative society, operating for the mutual benefit of its members, or as a community benefit society, conducting business for the benefit of a community. This Practice Note summarises the legal framework, the structure and the process of registration for such societies. It also refers extensively to the finalised FCA guidance relating to registered societies, with sections considering governing rules, share capital, name, transfer of engagements, conversion, amalgamation, dissolution and winding up. What is a co-operative or community benefit society? A co-operative society or community benefit society (previously known as industrial and provident societies) (a registered society, or alternatively, a society) is a body corporate with limited liability that can be used by organisations to conduct a business either as a co-operative or for the benefit of a community. There are two categories of registered society: • co-operative societies,
GLOSSARY
A co-operative society or community benefit society (previously known as industrial and provident societies) is a body corporate with limited liability that can be used by organisations to conduct a business either as a co-operative or for the benefit of a community. The legal framework for a CCBS is laid down in the Co-operative and Community Benefit Societies Act 2014.