The following are useful in interpreting the persons discharging managerial responsibility (PDMR) notification provisions of the Market Abuse Regulation (EU) No 596/2014 (Market Abuse Regulation): • Article 19 of the Market Abuse Regulation • Commission Delegated Regulation (EU) 2016/522 which covers certain detailed aspects of the Market Abuse Regulation and lays down rules with regard to (among other things) types of transactions triggering the duty to notify managers’ transactions • Benchmark Regulation (EU) 2016/1011 • City of London Law Society and Law Society Company Law Committees’ Joint Working Parties on Market Abuse, Share Plans and Takeovers Code Company Law Committee Market Abuse Regulation Q&As (Law Society Market Abuse Regulation Q&As) • ESMA Final Report: technical advice on possible delegated acts concerning the Market Abuse Regulation, 3 February 2015 • ESMA

The Leasehold Reform Act 1967 (LRA 1967) gives qualifying tenants of long tenancies of houses the right to acquire the freehold (individual enfranchisement), or to buy a 50-year extension of the lease of the house. There is no requirement in LRA 1967 for the leasehold title to be registered in order to qualify for the right to enfranchise. Confirming this: • by LRA 1967, s 37(1)(f) '“tenancy” means a tenancy at

Directive 2011/62/EU (Falsified Medicines Directive) which amends Directive 2001/83/EC (consolidated version 26.07.2019), the Pharmaceutical Code establishes specific rules in respect of ‘falsified medicinal products’ which are defined as: ‘any medicinal product with a false representation of: (a) its identity, including its packaging and labelling, its name or its composition as regards any of the ingredients including excipients and the strength of those ingredients (b)

This Q&A addresses the question of whether an electronic bill of costs is required in a claim which settled before it was allocated to the multi-track. The use of electronic, spreadsheet-based bills of costs is mandatory in the circumstances set out at CPR PD 47, para 5.1: ‘(a) the case is a Part 7 multi-track claim, except— (i) for cases in which the proceedings are subject to fixed costs or scale costs; (ii) cases in which the receiving party is unrepresented; or (iii) where the court has otherwise ordered; and (b) the bills of

The regulation of consumer credit The regulation of consumer credit now sits with the Financial Conduct Authority (FCA). In consequence parts of the Consumer Credit Act 1974 (CCA 1974) were repealed from 1 April 2014 with regulated activities coming under the Financial Services and Markets Act 2000 (FSMA 2000) and the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO 2001). Pre-contract information Information about pre-contract information requirements can be found in Practice Notes: Consumer credit agreements—pre-contract requirements and . The requirements contained in the FCA’s Consumer Credit Sourcebook

We have assumed that: the query relates to the execution of a business-to-business commercial agreement subject to the laws of England and Wales. In our searches we can find no requirement for a ‘wet ink’ date to be applied to an agreement instead of an electronic date stamp. A date is not essential to the validity of a deed (Morrell v Studd & Millington). A deed takes effect on the date of its delivery (section 1(3) of the Law of Property (Miscellaneous Provisions) Act 1989). The concept of delivery means that it is possible for a deed to be valid even if it has not been dated. If a deed is not dated, external evidence is admissible to prove the correct date from which it was intended to operate (Silver Queen Maritime Ltd v Persia Petroleum

A decree nisi may not be made absolute before the expiration of six weeks from the date it is granted, unless the court in which the proceedings are pending by special order fixes a shorter period. As soon as this period expires, the person who obtained the decree may apply to have it made absolute by lodging with the district judge a notice in Form D36. The district judge then has regard to the matters set out in the Family Procedure Rules 2010 (FPR 2010), SI 2010/2955, 7.32 and, if they are satisfied as to such matters, they will make the decree absolute and endorse the decree nisi to that effect, stating the time at which it was made absolute. A certificate will then be sent to the petitioner and respondent. Where application is made for decree nisi to be made absolute more than 12 months after decree nisi was pronounced, an explanation in writing must be provided

We refer you to Practice Note: Costs and expenses in the Court of Protection, which explains that professional fees incurred on behalf of P may be charged on a ‘fixed costs’ basis in accordance with the Court of Protection Practice Direction 19B (PD 19B). PD 19B, para 14 deals with

Highway authorities have responsibility for the maintenance and upkeep of highways, which includes being granted significant powers to ensure that the highways are not obstructed or encroached upon save where there is specific statutory authority to allow for the same (for example the temporary placement under licence of builder’s skips). Section 143 of the Highways Act 1980 (HiA 1980) provides that where a structure has been erected or set up on a highway otherwise than under a provision

Section 40 of the Countryside and Rights of Way Act 2000 (CRWA 2000) permits persons authorised by Natural England to enter any land for certain specified purposes. This includes: • CRWA 2000, s 40(1)(a)—for the purposes of surveying it in connection with the preparation or review of any map under CRWA 2000, Pt I, and • CRWA 2000, s 40(1)(c)—ascertaining whether members of the public are permitted to exercise the rights conferred by CRWA 2000, s 2(1) While we have not been able to find any authority on this point, it does not seem to us possible that CRWA 2000, s 40 powers of entry could be used for the purposes of making an order under CRWA 2000, s 3A, because: • the making of a section 3A order (CRWA 2000, s 3A) cannot be described as the preparation or review of a map; particularly as a separate duty to prepare maps is

This Q&A assumes that the set-off referred to would be between an insolvent debtor company subject to a company voluntary arrangement (CVA) under the Insolvency Act 1986 and a creditor owed money by the insolvent debtor company. Information about the different types of set-off and the different circumstances in which they apply is given in Practice Note: Types of set-off.

When assessing the rights that have accrued under a contract, it is important to separate two entirely distinct ways in which a contractual relationship between two parties may come to an end. This Q&A will first look at parties’ rights after rescission and then consider rights after termination, including the thorny issue of liquidated damages. Rescission and continuing rights A contract may be rescinded by a party where its consent to entering into a contract has been vitiated in some way, commonly by a misrepresentation, undue influence or duress. The effect of rescission is to treat the contract as void ab initio (ie as if the contract never occurred). Rescission is distinct from termination, as it looks at the formation of the contract, rather than its substance or performance, and operates retrospectively. The practical impact of rescission is therefore that the parties’ rights and duties that have arisen under the contract are extinguished.