By way of background you may find it helpful to refer to our Practice Note: Charitable incorporated organisations. Our Practice Note explains, as you have stated, that 'A CIO only has to register with the Charity Commission and not, in addition, with the Registrar of Companies'. Our Practice Note also states that: 'Broadly speaking, CIO status is likely to be most appropriate for a medium-sized charity which finds dual registration and regulation to be both expensive and administratively burdensome. This is in part due to the fact that there will be no searchable register of charges granted by a CIO (other than those which provoke registration at HM Land Registry). This is likely to make creation of, or conversion to, a CIO less attractive to larger charities and those charities which regularly borrow money on the security of debentures or fixed charges'. [our emphasis] Power to act When dealing with a charity it

Crystallisation of a floating charge The nature of a floating charge is that it permits the debtor to make successive disposals (usually only in the usual course of business) of the property secured by the floating charge, for example by making successive sales from the stock of a business where the stock is constantly being replenished and sold on. Following certain Crystallising events, a floating charge will crystallise over the charged assets and become fixed. For a discussion of what constitutes a crystallising event, see Practice Note: Crystallisation of floating charges. See also the following further reading in Lexis®Library: Crystallisation: Lingard's Bank Security Documents [9.18] and Automatic Crystallisation: Lingard's Bank Security Documents [9.26]. Claims In practice, the creditor’s remedies are best pursued by the receiver/manager or, administrator

This Q&A addresses the issue of when a mortgage will fall within the remit of the ‘Consumer Buy-to-let Regime’ and takes account of the recent implementation of the Mortgage Credit Directive (2014/17 EU). The Mortgage Credit Directive (2014/17 EU) (MCD) was implemented into UK law on 21 March 2016. The UK has devised a new framework for the supervision of mortgages entered into with consumers for a buy-to-let purpose. The aim is to provide a distinction between borrowers who may be 'accidental landlords' and therefore in need of consumer protection and professionals operating a buy-to-let portfolio as a business. Lenders entering into consumer buy-to-let (CTBL) mortgages must comply with the new requirements (the CBTL Regime) which are

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime. Firms carrying a 'consumer buy-to-let (CBTL) business' need to register with the Financial Conduct Authority (FCA) under the Mortgage Credit Directive Order 2015. The regulated activities falling within the remit of a consumer buy-to-let business are as follows: • acting as a creditor

A tenant should comply strictly with the break provisions in a lease and, assuming that the break date is a Sunday pursuant to a valid break notice, then the tenant must vacate on the Sunday. In the case of NYK Logistics (UK) v Ibrend Estates, NYK fell foul of a tenant’s break condition to give vacant possession on the break date, Friday 3 April. On 2 April, NYK confirmed that it would hand over the keys on the

The Party Wall etc. Act 1996, s 10(1) (PWA 1996) states: (1) Where a dispute arises or is deemed to have arisen between a building owner and an adjoining owner in respect of any matter connected with any work to which this Act relates either — (a) both parties shall concur in the appointment of one surveyor (in this section referred to as an “agreed surveyor”); or (b) each party shall appoint a surveyor and the two surveyors so appointed shall forthwith select a third surveyor (all of whom are in this section referred to as “the three surveyors”). PWA 1996,

In answering this Q&A, we have not addressed the issue of moral rights which may be asserted by the author of the original copyright work. For further information, see Practice Note: Moral rights and Chapter IV of the Copyright, Designs and Patents Act 1988 (CDPA 1988). The starting point is that in this case, absent any evidence to the contrary, copyright will likely subsist in the architectural plans and specifications submitted in order to obtain planning permission. The plans will be protected by artistic copyright works, specifically, graphic works, pursuant to CDPA 1988, s 4. Copyright is infringed where the defendant carries out acts which the claimant has the exclusive right to do, or authorises a third party to carry out those acts

This Q&A assumes that the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE 2006), SI 2006/246 apply in the mentioned scenario, such that the original contract of employment with the transferor automatically transfers to the transferee and has effect after the transfer as if originally made between the employee and the transferee (ie employment is treated as continuing). For relevant guidance in Lexis+ UK Employment, see Practice

Luxury goods retail and 'black books' It is a common practice for luxury goods retailers to hold records of specific information about particular customers—the so-called little 'black book'. 'Black books' can be valuable resources for retailers servicing their big spending clientele to able to look up individual customers' purchasing histories and preferences and other useful information about them. Such customers also demand a high level of discretion and retailers are expected, both by those customers and the law, to put in place appropriate safeguards to ensure that such information, often deeply personal, remains private and is handled properly. Traditionally, these black books have been in hardcopy, although these days more are moving online. When multiple customers' data is aggregated in electronic form, this unleashes the potential for retailers to profile

Where a lease which is within the security of tenure provisions of the Landlord and Tenant Act 1954 (LTA 1954) is to be renewed by agreement, it is often common practice for any dilapidations claim to be ‘rolled over’ into the

The starting point for the obligation to reinstate will be the provisions of the lease and any licence for alterations. If there is no obligation to reinstate the demised premises, a lawful alteration becomes part of the premises. The tenant cannot be made to reinstate. It must yield up the premises with the alterations, although it has a right to remove any tenant’s fixtures up until the last minute of the term. See Practice Note: Tenant’s reinstatement. If there is a covenant to reinstate in the lease, the licence for alterations, or both, then, where there is an unqualified covenant against

A business will need to comply with the relevant requirements of the Employment Agencies Act 1973 (EAA 1973) and the Conduct of Employment Agencies and Employment Businesses Regulations 2003 (Conduct Regulations 2003), SI 2003/3319 if it is either an employment agency or an employment business, or both. Information on the definitions of ‘employment agency’ and ‘employment business’ can be found in the section entitled ‘Scope of the legislation’ in Practice Note: Employment agencies and employment businesses. Employment agency ‘Employment agency’ is defined as the business (whether or not carried on with a view to profit and whether or not carried on in conjunction with any other business)