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PRACTICE NOTES
ARCHIVED: This Practice Note is archived and is no longer maintained. Lawyers across the world are currently grappling with many common areas of concern in connection with the coronavirus (COVID-19) pandemic. There are also a large number of areas that are of particular concern to Banking & Finance lawyers. This Practice Note considers questions that are frequently being asked in the current environment and brings together key content and resources published across Lexis®PSL. It is updated regularly with practical guidance and analysis which cover the impact of COVID-19 developments. Due diligence and preliminary analysis Question Resources which may help What is the Coronavirus Business Interruption Loan Scheme and how can borrowers access it? Q&A: What is the Coronavirus Business Interruption Loan Scheme and how can borrowers access it? Is there any specific law creating the Coronavirus Business Interruption Loan Scheme? Q&A: Is there any specific law or regulations in force that created the Coronavirus Business Interruption Loan Scheme scheme? If so, what are they? Or is the British Business
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. Community care assessments are conducted by the local authority (LA) where someone aged 18 years or older is ordinarily resident. LAs have a duty to assess an individual once they become aware that they may have needs which should be met. Introduction of care and support needs assessment easements To manage arising care and support assessments during the coronavirus pandemic the Coronavirus Act 2020 (CA 2020) was introduced. Four key elements provided that: (i) local authorities did not have to conduct detailed assessments of indviduals’ care and support needs; (ii) local authorities did not need to conduct financial assessments under the Care Act 2014 (CA 2014); (iii) local authorities did not have to prepare or review care and support plans under CA 2014; and (iv) local authorities’ duties to meet eligible care and support needs or carers’ needs became replaced with a power to meet needs. These provisions ran from 31 March 2020 and expired
PRACTICE NOTES
A number of temporary changes were introduced by government in relation to accessing Statutory Sick Pay (SSP), and SSP rules, in response to the coronavirus (COVID-19) pandemic. These changes have been reversed following the government’s decision to remove coronavirus restrictions in 2022 and, in particular, the publication of the government’s plan for living with COVID-19 on 21 February 2022. The temporary changes to SSP introduced during the pandemic, together with a summary of developments in relation to their removal, are listed below: • those who self-isolated or were required to shield from time to time because of coronavirus were potentially deemed incapable of working, and, therefore, entitled to SSP (see: SSP entitlement extended to those who self-isolate below). These deeming provisions were revoked by the Statutory Sick Pay (General) (Coronavirus Amendment) Regulations 2022, SI 2022/380, in force on 25 March 2022 (see: LNB News 25/03/2022 5). This means that from 25 March 2022, if an employee tests positive for coronavirus, in order to qualify for SSP they
PRACTICE NOTES
This Practice Note has been archived and is not maintained. This Practice Note focuses on the implications for restructuring and insolvency court work in the light of temporary rules introduced in the context of coronavirus (COVID-19). For the implications for litigation generally, see Practice Note: Coronavirus (COVID-19) implications for dispute resolution [Archived]. Are the courts operating normally? The Supreme Court continues to hear cases with hearings and judgments being conducted in person or virtually. The Court of Appeal building is open during the hours of 10 am to 4.30 pm (Monday to Friday). E-filing is mandatory for legally represented persons in the Court of Appeal from 14 February 2022—see LNB News 14/02/2022 58. The RCJ remain open, including the fees office. Fees can also be paid by telephone between the hours of 10 am and 4 pm or by email (RCJfeespayments@justice.gov.uk)—see LNB News 01/03/2021 17. The appointment based system is available to book by calling 0203 936 8957. The fees office has relocated to the West Green Building. Judicial
PRACTICE NOTES
ARCHIVED: This archived Practice Note is not maintained and is for background information only. This Practice Note considers the impact of the coronavirus (COVID-19) pandemic on charities and provides answers or guidance on some of the main issues arising for practitioners. The latest guidance and updates will be contained in this Practice Note. For guidance on other matters affecting Private Client practitioners as a result of coronavirus (COVID-19), see the Coronavirus (COVID-19) subtopic. How will charities ensure that they are properly governed if trustees and staff are not able to work or meet in light of coronavirus (COVID-19)? This Q&A was produced in partnership with Sam Macdonald and Laetitia Ransley of Farrer & Co. Many charities will have board or general meetings scheduled over the coming months and be wondering what steps should be taken to observe social distancing measures and protect attendees, particularly those more at risk from coronavirus (COVID-19). Special rules apply to these meetings and will need to be taken into account. Formal meetings are, of course, only one (albeit an important) aspect
PRACTICE NOTES
ARCHIVED: This archived Practice Note is not maintained and is for background information only. This Practice Note considers the impact of the coronavirus (COVID-19) pandemic on contentious trusts and estates. For general dispute resolution guidance, see Practice Note: Coronavirus (COVID-19) implications for dispute resolution [Archived]. The six-month time limit to make a claim under the Inheritance (Provision for Family and Dependants) Act 1975 (I(PFD)A 1975) is due to expire shortly, but I am concerned that it might not be possible to engage with the other side and I am concerned about issuing the claim due to potential coronavirus (COVID-19) related issues. What should I do? An action under the Inheritance (Provision for Family and Dependants) Act 1975 (I(PFD)A 1975) should generally be commenced before the expiration of six months from the date of a grant to the estate. An application after that date can only be made with the permission of the court. See I(PFD)A 1975, s 4: ‘An application for an order under section 2 of this Act shall not, except with the permission
PRACTICE NOTES
ARCHIVED: This archived Practice Note is not maintained and is for background information only. This Practice Note considers the impact of the coronavirus (COVID-19) pandemic on Court of Protection and mental capacity work, covering in particular the following areas: • Court of Protection guidance on the coronavirus pandemic • The running of the Court of Protection during the coronavirus pandemic • Office of the Public Guardian guidance on the coronavirus pandemic • Guidance on visiting care homes during the pandemic • Mental capacity, vaccination and testing for coronavirus • Department of Health and Social Care and Court of Protection guidance on deprivation of liberty during the pandemic • Frequently asked questions Court of Protection guidance on the coronavirus pandemic The Vice-President of the Court of Protection, Mr Justice Hayden, and other senior members of the judiciary have issued several pieces of guidance for judges and practitioners during the course of the coronavirus pandemic: • 13 March 2020—guidance focusing specifically on visits to protected persons by judges and practitioners • 18 March 2020—additional
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. Last updated 30 June 2020. Scope of this tracker The table in this document looks at secondary issues by listed and AIM companies raising at least £10m between 25 March 2020 and 30 June 2020 and the effect of the coronavirus (COVID-19) crisis on equity fundraisings. In particular, it looks at the structure and size of the fundraising including whether companies have made use of the Pre-Emption Group’s (PEG) temporary relaxation of the recommended limit on the size of non-pre-emptive offers which has been increased to up to 20% of issued share capital from 1 April 2020. Announcements relating to secondary issues The following table tracks announcements relating to secondary issues by listed and AIM companies made between 25 March 2020 and 30 June 2020 where at least £10m was being raised in the fundraising. The tracker covers placings, offers for subscription, rights issues and open offers. Company Market Announcement date Structure and size of fundraising, % of issued share capital (ISC) and discount
NEWS
The European Data Protection Board (EDPB) has published a short reply to a letter from Vice-President of Amazon EU Sarl, Barbara Scarafia, regarding Amazon and coronavirus (COVID-19).
PRACTICE NOTES
This Practice Note summarises the new capital markets recovery package of measures proposed by the European Commission in July 2020 to address the impact of the coronavirus (COVID-19) pandemic. The package makes targeted amendments to the EU Prospectus Regulation (EU) 2017/1129, the Markets in Financial Instruments Directive 2014/65/EU (EU MiFID II), the EU Securitisation Regulation (EU) 2017/2402 (OJ L 347 28.12.2017 p 35), and the Capital Requirements Regulation (EU) 575/2013 (EU CRR), with the aim of enabling capital markets to more easily support European businesses in recovering from the crisis caused by coronavirus. Background to the capital markets recovery package On 24 July 2020, the European Commission adopted a capital markets recovery package as part of its overall coronavirus (COVID-19) recovery strategy. The Commission had already proposed a targeted banking package in April 2020 to facilitate lending to households and businesses throughout the EU (for more information, see Practice Note: Coronavirus (COVID-19)—targeted EU banking package). The capital markets recovery package is intended to make it easier for capital markets to help businesses in the
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note tracks the developments and updates on coronavirus (COVID-19) that relate to the life sciences sector in the EU. For coronavirus developments of interest to the life sciences sector in the UK, see Practice Note: Coronavirus (COVID-19)—UK life sciences tracker [Archived]. Jump to: • Research and development of medicines and vaccines • IP waiver • Clinical trials • Regulation of medical devices • Regulation of vaccines, medicinal products and blood • Post-authorisation vigilance of medicines and vaccines • Supply of vaccines, medicines and medical products • Actions on falsified and unlicensed medicines, off-label use of medical devices • EU coronavirus certificates • mHealth and data protection Research and development of medicines and vaccines What's happening? When? Find out more European Medicines Agency endorses International Coalition of Medicines Regulatory Authorities and World Health Organization’s statement on supporting healthcare professionals to enhance public confidence in coronavirus vaccines 17 May 2022 The European Medicines Agency (EMA) has endorsed a joint statement by the International
NEWS
The European Commission has published a ‘stakeholder dialogue outcome’ on best practices in relation to relief measures offered to consumers and businesses in the context of the coronavirus (COVID-19) crisis. It reflects the outcome of the high-level dialogue between participants of two roundtables on best practices organised in May and June 2020 by the European Commission in light of the crisis.