This Practice Note provides information on the large exposures requirements, set out in the Large Exposures (CRR firms) Part and the Large Exposures Part of the Prudential Regulation Authority (PRA) Rulebook, which apply to UK banks, building societies and systemically important investment firms. The primary source for UK prudential requirements has been the onshored Capital Requirements Regulation (Assimilated Regulation (EU) 575/2013—UK CRR). The provisions of UK CRR are, however, in the process of being replaced by provisions in the PRA Rulebook and other PRA policy materials. For information, see Practice Note: Introduction to the UK prudential regime for banks, building societies and systemically important investment firms—UK CRR. Purpose of the large exposures requirements The large exposures requirements implement the large exposures provisions of the Basel Framework and are intended to place an upper limit on the size of exposure that a firm may have to any individual party or group of connected parties, thereby limiting the maximum loss a firm could face in the event of a sudden counterparty failure to a level that would not endanger the firm’s

Restructuring & Insolvency analysis: A large award of damages and/or equitable compensation has been made against the directors and connected companies of a company which was used to perpetrate a large-scale labour supply fraud against HMRC. Written by Phillip Patterson, barrister, Gatehouse Chambers.

A stock with a market capitalisation that is among the largest within a market eg the capitalisation of one of the top 100 companies in the UK as represented by the FTSE 100 index.

The rules governing annual accounts and reports of quoted public companies and unquoted companies (whether public or private but not classified as either a small company or medium-sized company) as set out in: —CA 2006, Pt 15, and —the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 (SI 2008/410) In addition to the CA 2006 requirements in relation to accounts and reports, a quoted company may also be subject to continuing obligations with respect to financial reporting imposed by the Financial Conduct Authority and contained in: —the Disclosure Guidance and Transparency Rules (DTR), and —the Listing Rules (LR)

For accounting purposes, a quoted or unquoted public company, or any private company which cannot qualify as a small company or medium-sized company for accounting purposes.

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note discusses the large company R&D relief which was abolished with effect from 1 April 2016 and replaced by the R&D expenditure credit (RDEC). It was available until 1 April 2016 in respect of expenditure incurred up until then. Up until 31 March 2016, large companies (and SMEs claiming the equivalent to the large company relief for expenditure that did not qualify for the SME relief) could have irrevocably elected to claim the RDEC instead of large company R&D relief for qualifying expenditure on or after 1 April 2013. The RDEC is now the only R&D relief available to such companies, for which, see Practice Note: R&D expenditure credit (pre-1 April 2024). This Practice Note sets out the regime as it applied before 1 April 2016. A large company could, provided certain conditions were met, claim a deduction equal to 130% of its qualifying expenditure incurred on R&D in calculating its profits subject to corporation tax. The

A request for information made to a solicitor or another Will writer about the circumstances in which a Will was prepared and executed (as established in Larke v Nugus SJ 123 (1979) 337).

Originally produced in partnership with Arti Shah. Updated in partnership with Andrew Wilson Laser hair removal is the process of removing unwanted hair via pulsed light which destroys hair follicles over a period of time. Several sessions are necessary as hair grows in phases and therefore requires treatment at the appropriate hair-growth stage. Prior to October 2010, the use of intense pulsed light (IPL) devices and lasers for cosmetic purposes was regulated by the Care Quality Commission (CQC). On 1 October 2010 the use of IPL was deregulated. Registered medical practitioners using lasers for treatment of disease or illness still need to register with the CQC. However, practitioners using lasers for purely cosmetic treatments do not have to register. With the change came an influx of therapists, not all appropriately trained, who could now offer these treatments. Although the field is no longer regulated, there are still some minimum requirements for practitioners undertaking this work. A practitioner should have a minimum of an NVQ3 or equivalent qualification or training relevant to laser or IPL treatment. In

The last antecedent rule is a principle of legal interpretation used to decide how qualifying words or phrases apply within a sentence, particularly in contracts and legislation. It generally provides that qualifying words (for example, “including”, “provided that”, “which”) are presumed to relate only to the immediately preceding word or phrase (the “last antecedent”), rather than to a longer list or earlier wording, unless the context or punctuation indicates otherwise. In UK and Irish practice, courts in England and Wales, Scotland, Northern Ireland and Ireland treat the rule as an interpretative aid, not a rigid rule. It appears in case law rather than as a statutory definition, and is frequently applied when construing lists, limitations, exceptions and provisos in statutes, contracts, deeds and commercial documents. The rule is always subordinate to the wider purposive and contextual approach to interpretation: courts will depart from it where the overall purpose, syntactic structure or commercial common sense indicate that a qualifier was intended to apply more broadly than just to the last item.

The topology denotes the communications provider’s ownership of the access network.

A last will and testament is a formal document by which a person (the testator) sets out how their property and other affairs are to be dealt with on death. It usually appoints executors (or, in Scotland, executors-nominate), directs the distribution of the estate, can create trusts, makes specific gifts and legacies, and may name guardians for minor children.Across the UK and Ireland it is a descriptive term rather than a single codified definition, but its essential features are similar: it is a revocable, ambulatory declaration of testamentary intentions that takes effect only on death and must comply with formal validity requirements. These are principally statutory, including the Wills Act 1837 (England and Wales and, with modifications, Northern Ireland), the Succession (Scotland) Act 1964 and the Succession Act 1965 (Ireland), together with extensive case law on capacity, knowledge and approval, and undue influence.The expression “last will and testament” is commonly used interchangeably with “will”. In practice, it is central to estate planning, probate and succession disputes, and to advising on intestacy risks, cross-border estates and the construction, rectification or challenge of testamentary instruments.

A legal document that enables an individual (the donor) to appoint one or more people (attorneys or donees) to make decisions on their behalf in respect of either their property and financial affairs or health and welfare. The attorneys’ powers under a registered LPA continue after the incapacity of the donor.