Consumer Credit Regime Under section 19 of the Financial Services and Markets Act 2000 (FSMA 2000) a person cannot carry out a regulated activity, or purport to do so, in the UK unless they are either an authorised person (ie authorised by the Prudential Regulation Authority and/or the Financial Conduct Authority (FCA)), or an exempt person (eg by being an appointed representative). For an overview of the regulated activities regime in the UK, see Practice Note: What are regulated activities? As you can see in this Practice Note, activities are regulated if they are of a ‘specified kind’ (ie specified by the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO 2001)) which is carried on by way

A landlord may not make a relevant disposal of premises to which the LTA 1987, Pt 1 applies unless notice is served in accordance with LTA 1987, s 5 and the disposal is made in accordance with the requirements of LTA 1987, ss 6–10. For these purposes, ‘landlord’ is defined in LTA 1987, s 2(1) and means the immediate landlord of the qualifying tenants of the flats contained in the premises or where any of those tenants is a statutory tenant, the person

We have not been able to locate an authority which directly deals with this issue. However, we have set out below the criteria involved in establishing whether there is a licence or lease in place, and if there is a lease, whether that lease will be protected under the Landlord and Tenant Act 1954 (LTA 1954). Lease or licence? In Street v Mountford, the House of Lords identified the hallmarks of a tenancy as: • exclusive possession of defined premises Payment of rent might also be an indication of a tenancy, but is not essential. Determining whether the agreement proposed will be a lease or a licence will depend upon the substance of the agreement as a whole, rather than the form, ie if the parties in fact have reached an agreement which amounts

The majority of dealers are authorised by the Financial Conduct Authority (FCA) on both a prudential and conduct of business basis, although systemically important firms that deal as principal may be regulated prudential by the Prudential Regulation Authority. The FCA categorises firms into four new supervision categories depending

As correctly identified, increasing the demise by way of a deed of variation will amount to a surrender and regrant of the existing lease. It follows that SDLT may be payable on the re-granted lease. Overlap relief may be available for any rent paid under an original grant provided the lease was subject to SDLT and is of the same or substantially the same premises

The arrangements between a capacitous individual and their care provider are usually subject to written contract which will determine the basis for occupation usually by tenancy agreement or licence. Termination of these arrangements is also usually governed by the contract and will specify the basis on which the occupation can be ended by either side. See Practice Note: Nursing and residential care contracts. If the relevant contractual termination provisions have been invoked and the individual refuses to leave the property, the nursing home may need to consider

A general boundary is an imaginary line dividing one person’s property from another. It is rarely identified with precision on the ground or in documents. Section 60 of the Land Registration Act 2002 provides: • the boundary of a registered estate shown for the purposes

Party owns and has maintained land which it transpires is a public highway Several interests can exist in the same piece of highway land. Highway land may belong to the highway authority or a private owner. The landowner’s legal interest in the highway is subject to the right of passage of members of the public and the rights of control and maintenance vested in the highway authority, as well as any restrictions on use, such as a restriction on construction without the authority’s approval. See Practice Note: Highways—ownership and creation. Paving

We note that the agreement states that the earliest date on which a rent review 'may' take place is 1 January 2015, and is silent as to any further aspect of any such review. Accordingly, an argument may be raised that the rent review clause is unenforceable on the basis that there is a failure to conclusively confirm that it is intended

The employer on a construction project will not normally make payments directly to the main contractor's sub-contractors—ordinarily the employer pays the contractor for all of the works, who then makes payment down the chain to its sub-contractors. However, the employer might see it as beneficial to have the right to make direct payments to the sub-contractors if the contractor is not paying its sub-contractors quickly enough. If sub-contractors are not paid, they could suspend all or part of their works which will disrupt the project. By including a direct payments clause the employer could avoid such disruption. Some large private companies have previously suggested that

The GC Works contract (the Government General Conditions of Contract for Building and Engineering Work) used to be the standard form that was used for public sector construction contracts. It could also be used for works in the private sector. Like other suites of construction contract, the GC Works suite included versions with and without quantities, as well as design

Business tenancy A business tenancy will arise where a property is occupied for the purposes of a trade of profession under s 23(2) of the Landlord and Tenant Act 1954 (LTA 1954), unless excluded by the provisions in s 43