A concentrator can be remote from the host DLE (digital local exchange) or co-located with it.

An offer which is not made with the agreement of the offeree's board.

Hostile possession describes a person’s factual possession of land without the paper owner’s consent, and in a manner inconsistent with the owner’s title. It is a key element of adverse possession in England and Wales, Northern Ireland and Ireland, and of “possession nec precario” in Scots property law. The “hostile” element does not require aggression or ill-will; it means the occupier is in possession as of right, not by permission, lease, licence or tolerance. In practice, this often involves exclusive use, enclosure, maintenance or development of land as if the occupier were owner.In England and Wales and Northern Ireland, the concept is developed through case law on adverse possession and limitation (for example under the Limitation Act 1980 and the Limitation (Northern Ireland) Order 1989), and interacts with Land Registration legislation. In Ireland, similar principles arise under the Statute of Limitations 1957. In Scotland, case law on positive prescription and possession “adverse” to the owner fulfils an analogous role. Hostile possession is crucial when assessing whether time for adverse possession or prescription has begun to run, whether the owner has acquiesced, and whether registered or unregistered title can ultimately be displaced.

This Practice Note, produced with input from Rebecca Cousin of Slaughter and May on market practice, discusses some of the main defensive tactics an offeree might seek to deploy when facing an imminent or actual unwelcome takeover offer and looks at the legal and regulatory restrictions on the taking of defensive action. When a company is, or predicts that it may be, subject to a takeover offer which is, or may become, hostile, it is likely to seek to employ a number of defensive tactics to either see off the offeror altogether or to encourage the offeror to increase its offer. Such defensive tactics or frustrating actions are limited by both law and the provisions of the City Code on Takeovers and Mergers (Code). Code restrictions on frustrating action The Code contains restrictions on frustrating action, which limit the extent to which an offeree may take action which may frustrate an offer without the approval of its shareholders or the consent of the Panel, and which have particular application in the context

A hostile witness is a witness who, when called by a party, shows they are unwilling to tell the truth for that party or are actively adverse to that party’s case. In practice, it usually refers to a witness who departs materially from their prior statement or refuses to answer fairly, so that normal, non‑leading examination is ineffective.In England and Wales and Northern Ireland, the concept is recognised in the common law and reflected in the Criminal Procedure Rules and Civil Procedure Rules, allowing the calling party, with the court’s permission, to treat the witness as “hostile” and cross‑examine them (including with leading questions and, in some situations, prior inconsistent statements as evidence).In Scotland and Ireland, the term is similarly used in case law and practice: the court may allow a party to cross‑examine its own witness where adversity or unwillingness is demonstrated.Across the UK and Ireland, labelling a witness as hostile does not make their evidence inadmissible; instead, it changes the manner of questioning and the way the court may assess credibility and weight.

This Practice Note provides information on key new and upcoming legal developments, as well as topics currently of particular interest to Banking & Finance lawyers. Draft Commonhold and Leasehold Reform Bill The aim of the draft Commonhold and Leasehold Reform Bill is to bring forward reforms designed to modernise, strengthen and reinvigorate the commonhold and leasehold framework. What does it do? The Draft Commonhold and Leasehold Reform Bill sets out various proposed reforms to the law relating to long leasehold flats, in particular in relation to the commonhold model. The key elements of the Bill are: • a ban on the use of long leaseholds for most new residential flats—the reformed commonhold model would be the default tenure for flats intended for home ownership • the introduction of measures to make it easier for existing leaseholders to convert to commonhold, and • a cap on existing ground rents (at £250 a year and then converting to a peppercorn after 40 years). (Note that the Leasehold Reform (Ground Rent) Act 2022 has already prohibited ground

This Practice Note discusses hot topics for restructuring and insolvency professionals. It is updated regularly with practical guidance and analysis which reflects recent changes and trends in the restructuring and insolvency market. To track key future developments in the field of UK and EU restructuring and insolvency law, such as legislation, consultations/calls for evidence, and other key developments including proposed regulation and government reports, see Practice Note: Restructuring & Insolvency—horizon scanner. Amendments to Insolvency (England and Wales) Rules 2016 (IR 2016) Amendments to the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 came into force on 22 June 2026, following a review of the operation of the rules since their introduction. The principal changes under the Insolvency (England and Wales) (Amendment) Rules 2026, SI 2026/561 are as follows: • rule 3 amends the definition of ‘judge’ to refer to any relevant practice direction and omits the obsolete term ‘registrar’. Rules 16–22 make consequential amendments • rules 4, 6, 7, 8,12 and 14 remove references to the delivery of documents by fax,

Further to the Government's response to the Law Commission’s Final report Modernising Wills: Final report, the government acknowledge that reforms are needed and confirmed further announcements will be made when the 31 recommendations have been considered. The draft legislation sets out reforms proposed in the report including revoking the Wills Act 1837 and replacing this with a modern act ready for the future: Modernising Wills: Final Report Volume II: draft Bill for a new Wills Act. What is the position with the Wills Bill? The draft Wills Bill was released by the Law Commission as Volume II to their report on modernising Wills law. What are the key provisions of Wills Bill? The Wills Bill plans to republish the Wills Act 1837 with modernised language and 31 recommended changes as per the extensive report. The key changes planned are the following: • power to make a Will and dispose of property by Will: section 1 sets out that an individual may make a Will and further details are provided in Schedule 1 • testator aged 16 or

Further to the Government's response to the Ministry of Justice’s and Office of the Public Guardian (OPG)’s consultation Modernising Lasting Powers of Attorney, the Powers of Attorney Bill received Royal Assent on 18 September 2023, becoming the Powers of Attorney Act 2023 (PAA 2023). When it comes into force, PAA 2023 will introduce changes to the Mental Capacity Act 2005 (MCA 2005) to create a more modern lasting power of attorney (LPA) service. Which provisions of PAA 2023 are currently in force? PAA 2023, s 2 came into force on 18 November 2023 and amended section 3 of the Powers of Attorney Act 1971 to include chartered legal executives authorised by the Chartered Institute of Legal Executives (CILEX) among those professionals authorised to certify copies of powers

The Terminally Ill Adults (End of Life) Bill represents a significant development in UK law concerning end-of-life choices. This Private Member’s Bill, introduced by Labour MP Kim Leadbeater, seeks to legalise assisted dying for terminally ill adults in England and Wales, subject to stringent eligibility criteria and procedural safeguards. What is the current position? Although suicide was decriminalised in 1961, it remains an offence under section 2 of the Suicide Act 1961 to encourage or assist another’s suicide. How has the Bill progressed? Introduction, Second Reading, Committee Stage: The Bill was introduced on 16 October 2024 and passed its second reading in the House of Commons on 29 November 2024 by 330 votes to 275. During the committee stage, over 500 amendments were considered. Amendments: Significant changes included replacing the requirement for High Court approval with oversight by an Assisted Dying Review Panel, aiming to streamline the process while maintaining rigorous safeguards. In May 2025, an amendment was further adopted to ensure that no healthcare professional is compelled

Background Business property relief (BPR) BPR currently applies to specific categories of shares in companies and other property which meet prescribed conditions. The rate of relief depends on the category of shares or property concerned and is currently either 50% or 100% of the entire value of the qualifying holding. For further detail, see Practice Note: IHT—business property relief. Shares in a trading company which are not listed on a recognised stock exchange currently qualify for 100% relief from BPR by virtue of IHTA 1984, s 105(1)(bb). Shares which are listed on the Alternative Investment Market (AIM) are currently treated as not listed and are therefore eligible for 100% BPR. At Autumn Budget 2024, the government announced an intention to significantly reduce the amount of BPR on qualifying property from 6 April 2026. The 100% rate of relief will be restricted so that it will no longer apply to the whole value of the qualifying business property, but will instead only apply to the first £2.5m of value from 6 April

Current inheritance tax treatment of pension funds Inheritance tax (IHT) is charged on the value of an individual’s estate immediately before death. The estate comprises property to which the deceased was beneficially entitled. However, most UK registered pension schemes are established as discretionary trusts, so the deceased member does not have a beneficial entitlement to pension death benefits at death, and those benefits are generally excluded from the estate. Exceptions arise where the member has made a binding nomination or where benefits are payable to the estate as of right, in which case the benefits are treated as part of the estate and subject to IHT under sections 4 and 5 of the Inheritance Tax Act 1984 (IHTA 1984). New regime for deaths on or after 6 April 2027 The position will change fundamentally from 6 April 2027, under reforms first announced in Autumn Budget 2024 on 30 October 2024. A consultation document was published on that date, seeking responses by 22 January 2025 on certain aspects of how the new rules