Dissolved mortgagee According to our Practice Note: Voluntary striking off and dissolution, housed in our Lexis+® UK Corporate module: 'If a company is dissolved while it still owns or has an interest in property, that property will be deemed to be bona vacantia (meaning that it is 'vacant’ and without a legal owner) and will pass to the Crown under CA 2006, s 1012.' The Government Legal Department (GLD) (which was called the Treasury Solicitor’s Department until 1 April 2015) is the government department in England and Wales dealing with bona vacantia property on behalf of the Crown. Within the GLD, there is a specific Bona Vacantia Division (BVD) which deals with (among other things) the collection of money owed to a dissolved company (and now due to the Crown) under a mortgage. The GLD/the BVD have issued a guidance entitled ‘Send money due to the Crown

Executors and registered land When registered land vests in executors as a result of the deceased’s death, the executors are not obliged to register that disposition, see: section 27(1)–(5)(a) of the Land Registration Act 2002 (LRA 2002). However, they may apply to have the register altered so as to update the register and have their names substituted for that of the deceased: LRA 2002, Sch 4, para 5. An executor who is registered or entitled to be registered can exercise 'owner’s powers'. These are powers to make a disposition of any kind permitted by the general law which would include the power to sell the land or assent to a beneficiary, see: LRA 2002, ss 23–24. As a condition of a conveyance or assent the executors can require security for the discharge of duties, debt or liabilities of the estate but cannot postpone the giving of an assent if reasonable

Under English law novation is the only way for a lender to transfer both its contractual rights and its contractual obligations to a new lender. In a sense, referring to novation as a method of 'transfer' is misleading. Novating a loan means that the existing lender's rights and obligations are completely cancelled and discharged and the new lender assumes new, but identical, rights and obligations in their place. For this reason, novation isn't actually a transfer. Instead, it is a means of creating a distinct contractual relationship between the new lender and the original transaction parties. As a new contract is formed, consideration is required at the time of the novation. If the loan is secured, security interests under related security documents can, likewise, be transferred

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PI & Clinical Negligence analysis: The use of data in road collision investigations is evolving rapidly. What happens when CCTV captures the moment of impact but misses the approach, or where witness accounts are conflicting or physical evidence is limited? In such cases, in-vehicle data can provide valuable insights during road collision investigations to the benefit of claimants, defendants and their respective legal or insurance representatives. Written by Craig Arnold, Technical Lead, at UK’s Transport Research Laboratory.

This Practice Note is not based on statute or official guidance or policy, but gives an overview of how local planning authorities might deal with section 106 monies in practice. The context of grant funding in the section 106 process Under section 106 of the Town and Country Planning Act 1990, financial contributions can be sought from developers towards the costs of providing community and social infrastructure, the need for which has arisen as a result of a new development taking place. This funding is commonly known as 'section 106 monies'. Section 106 monies can be spent on facilities where new developments have, at least in part, contributed to the need for the facilities. See Practice Note: Planning obligations—key points. Eligibility for section 106 grant funding The section 106 grant scheme is open to all community-based organisations that operate on a not-for-profit basis, including charities, community interest companies, industrial or provident societies, companies limited by guarantee and parish councils. The facilities provided must be open to the general public with no membership

It is standard market practice for warranties to be provided by the construction/design team to the following beneficiaries: • funder of the development • any first purchaser of the whole or a substantial part • any first tenant of the whole or a substantial part • employer (if the warrantor is a consultant or sub-contractor) • freeholder Where a purchaser is the 'first' purchaser from the employer/developer, a typical construction contract will provide, therefore, that the first purchaser will be entitled to receive a collateral warranty equivalent (ie on the same terms) to that given to the employer/developer, from the same contractor/consultant/sub-contractor. Any other beneficiaries not listed above, ie the funder of a

UNCITRAL Model law on insolvency guidance on COMI UNCITRAL has produced a judicial perspective for judges, reviewing various cases across the globe which have considered the UNCITRAL Model Law on Insolvency and offering general guidance on the issues a judge may need to consider (the UNCITRAL Judicial Perspective, paras [1]–[4]). It doesn't purport to instruct judges how to deal with applications under the UNCITRAL Model Law on Insolvency and it recognises that no single approach is possible or desirable—flexibility is important where the economic dynamics of a situation can change suddenly. The UNCITRAL Judicial Perspective (paras [97]–[98]) confirms that a deliberate decision was taken not to define COMI within the UNCITRAL Model Law on Insolvency itself and confirms that the concept of COMI was taken from the European Convention on Insolvency Proceedings (the Convention) (the forerunner to the EC Regulation on Insolvency, Regulation (EC) 1346/2000 (EC Regulation on Insolvency)) (itself the forerunner to the EU Recast Regulation on Insolvency) for reasons of consistency. The

Personal Injury analysis: Michael Kent QC at Crown Office Chambers says Catholic Child Welfare Society v CD highlights that for those advising claimants and defendants in very out of time claims—where the court’s permission to proceed under section 33 of the Limitation Act 1980 (LA 1980) is needed—the importance of focussing not just on reasons for delay, but on the issue of prejudice is central.

Law360: The Financial Conduct Authority (FCA) recently decided against extending the definition of small and mid-sized enterprises, or SMEs, for the purposes of compulsory jurisdiction by the Financial Ombudsman Service (FOS), following a call for evidence. Rachael Healey, partner at Reynolds Porter Chamberlain LLP, explores how decision on a key definition affects SMEs.

The National Health Service (NHS) came into operation on 5 July 1948 to nationalise voluntary and local authority hospitals. This was done by vesting them, their endowments for hospital purposes and their rights and liabilities in the Minister of Health, subject to exceptions in relation to the endowments and liabilities of teaching hospitals; and by the vesting of local authority hospitals and property in the minister. The introduction of a national health service available to all took place concurrently with the provision of a comprehensive social insurance scheme, which was based on recommendations made in the Beveridge Report. The original principal Act of the NHS legislation was the National Health Service Act 1946, which came fully into operation on 5 July 1948. Consequential amendments were made and the Minister of Health was empowered to make alterations to, and to amend or repeal, local or private Acts

10 year charge Trustees of a relevant property trust are charged to inheritance tax every ten years after the trust was created. There is a deemed transfer of value for IHT purposes equal to the relevant value of the property within the trust. The value of the relevant property in the trust (for the purposes of the calculation) is reduced by business property relief (BPR) or agricultural property relief (APR), if available. If the assets in the trust wholly qualify for APR or BPR at 100%, the ten year charge would be zero. See Practice Note: The principal (ten-year) charge which explains how to work out the amount of tax payable by them on every ten-year anniversary of the trust and IHTM42082 , a flowchart to show the values required for ten year anniversary charge. Exit charges Before first ten year anniversary APR