This is the maximum number of shares of any class a company may legally create under the terms of its articles of incorporation. It can be changed with shareholder approval. Usually a company will authorise more shares than it issues. This is so the company can issue more stock as needed. Also called authorised stock or shares authorised.

A unit trust that is subject to certain FCA regulations so that it can be marketed to the general public.

This Practice Note outlines the process for obtaining Financial Conduct Authority (FCA) authorisation of a unit trust, the associated documentation requirements, and the relevant provisions of the Financial Services and Markets Act 2000 (FSMA 2000) and the Collective Investment Schemes sourcebook (COLL) in the FCA Handbook. It also examines COLL 7.4, which sets out the winding-up process for an authorised unit trust (AUT). What is an AUT? A unit trust is a type of collective investment scheme (CIS) in which the assets are held by a trustee for the benefit of the investors (the unitholders) under the terms of a trust deed. An AUT is a unit trust scheme that is authorised under FSMA 2000, s 243 by the FCA. Other legal forms that may be used for UK-authorised CISs include open-ended investment companies (OEICs) and authorised contractual schemes (ACSs) (see Practice Notes: Open-ended investment companies (OEICs) and Taxation of authorised contractual schemes (ACS)). AUTs may be established as single funds or as umbrella funds comprising a number of sub-funds. The AUT structure can be used for

A minor formal source of Scots Law.

The Bank of England, Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Payment Systems Regulator (PSR) have published a revised Memorandum of Understanding (MoU) to enhance coordination in the regulation of payments in the UK. The MoU, reviewed annually under the Financial Services (Banking Reform) Act 2013, sets out the high-level framework for cooperation between the authorities. The 2025 revision introduces principles for regulatory cooperation and clarifies roles and responsibilities across policy, supervision, authorisations and strategy. It supports the delivery of the National Payments Vision and reflects the government’s March 2025 announcement to consolidate the PSR’s functions into the FCA, while confirming that the PSR’s remit remains unchanged for the time being. The authorities also published a complementary overview of their respective objectives, regulatory remits and key workstreams in relation to the regulation of payments in the UK.

The public sector body procuring the project. This might, for example, be a Local Authority, an NHS Trust, a central Government Department or a Non-Departmental Public Body.

This is a change in the scope of the project instigated by the Authority at Project Agreement level.

A direction given by NDA to a contractor in accordance with NDA's powers under section 18 of the Energy Act 2004.

In PF2 this is the service provider appointed direct by the Authority to carry out services such as the Soft FM Services and any maintenance or Elective Services to be carried out direct by the Authority.

The estate of the late [name of deceased] [ [I OR We] [enter name(s) of personal representatives] confirm that as [the

This is the document in which the Authority sets out what it requires from the project in terms of the works and services to be carried out. This can be (and usually is) an output-based document which allows Project Co to respond and say how it will meet these requirements.

This is the document in which the Authority sets out what it requires from the project in terms of the works and services to be carried out. This can be (and usually is) an output-based document which allows Project Co to respond and say how it will meet these requirements.