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NEWS
The Home Office has announced the opening of a six-week consultation on extending the Right to Work Scheme checks to cover businesses hiring ‘gig economy’ and zero-hours workers in sectors such as food delivery, construction, beauty salons, courier services and warehousing. According to the Home Office, the consultation forms part of government plans to reduce illegal working and strengthen employer accountability and will allow businesses to contribute to the development of the guidance and statutory codes of practice. The consultation will be open from 29 October 2025 to 10 December 2025.
PRACTICE NOTES
What is open data? In broad terms, ‘open data’ is data that is made publicly available in open, machine-readable format on licence terms that allow users to use and exploit the data on a royalty-free basis. There is no single, universally accepted definition of open data. One example is the Open Definition 2.1 published by Open Knowledge Foundation. This definition of open data is detailed, specific and intended to encourage the widest possible use. Key aspects of the Open Definition are: • the data should be provided at no more than a reasonable one-time reproduction cost • the data should be provided without any restrictions on its use and it must be possible to process the data using at least one open source, free or ‘libre’ software tool • the licence accompanying the data must satisfy certain conditions. Broadly, the licence must allow use of the data for any purpose and the field of use should not be restricted. The licence must allow distribution and modification of the source data, the creation of derivative works based on the source
GLOSSARY
Pooled funds in which the number of units varies according to the number of investors wishing to buy or sell units in the fund.
GLOSSARY
A collective investment scheme structured as a limited company in which investors can buy and sell shares on an ongoing basis.
GLOSSARY
A investment-scheme'>collective investment scheme (CIS) that is structured as a corporate vehicle (as distinct from a trust'>unit trust (UT)). An OEIC is defined in FSMA 2000, s 236 as a CIS which satisfies both: • the ‘property condition’: the property must belong beneficially to, and be managed by or on behalf of, a body corporate (BC) whose purpose is to invest its funds with the aim of (a) spreading investment risk and (b) giving its members the benefit of the results of managing those funds by or on behalf of that body, and • the ‘investment condition’: in relation to a BC, if a reasonable investor were to participate in the scheme he would (a) expect to be able to realise, within a period appearing reasonable to him, his investment in the scheme, and (b) be satisfied that his investment would be realised on a basis calculated wholly or mainly by reference to the value of property in respect of which the scheme makes arrangements An OEIC is also known as an investment company with variable capital (ICVC) (these terms mean the same thing and are used interchangeably)
NEWS
Corporate Crime analysis: In Various Claimants v Entain Plc, the High Court considered whether expanded public access to documents under CPR PD 51ZH should be restricted where related criminal prosecutions were pending. Applying Cape Intermediate Holdings Ltd v Dring [2019] UKSC 38, the Court granted a filing modification order (FMO) and confirmed that it would impose reporting restrictions to protect the fairness of forthcoming jury trials. The decision provides early guidance on balancing open justice against the risk of criminal prejudice under the new disclosure regime. Practitioners seeking filing restrictions should identify compelling, case-specific grounds, propose proportionate safeguards and preserve mechanisms for third-party access, rather than seek blanket restrictions on disclosure. Produced in partnership with Darius Latham-Koenig, solicitor of Peters & Peters Solicitors LLP.
NEWS
Private Client analysis: Stephen Alexander, partner at Mourant Ozannes, discusses the practical implications of the judgment in HSBC Trustee (CI) Ltd v Kwong and others, which provides helpful guidance on the approach the Jersey courts take in relation to the publication of judgments concerning applications by trustees for directions as to the administration of a trust.
GLOSSARY
SCCO Guide defines this an offer in writing made by one party to another in detailed assessment proceedings proposing the payment of a specific sum of money thereby avoiding the need for any further delay or expense. If the offer is not accepted and the costs in question are later subject to detailed assessment, the court will have regard to that offer when deciding what order for costs to make.
GLOSSARY
The right to choose an annuity from an insurance company offering the best deal in the market using the fund in a pension scheme. It may not necessarily be the insurer with the best or highest annuity; good administration and solvency is also important.
GLOSSARY
Information pack on the retirement options available to a member of a personal pension scheme, stakeholder scheme, FSAVC, retirement annuity contract or pension buy-out contract, which providers of such schemes are required to provide retiring members with since 6 April 2015. The open market options statement must include the information set out in COBS 19.4.1AR.
GLOSSARY
A buyer may raise capital for an acquisition from a further offer of its equity securities. This may take the form of a pre-emptive offer to its existing shareholders either through an open offer or a rights issue. An open offer is similar to a rights issue, pursuant to which shareholders are entitled to subscribe in cash for newly issued shares in proportion to their existing holdings. Unlike a rights issue, the shareholders have an entitlement rather than a tradable right to subscribe for new shares, so that they will not be allowed to sell the right to subscribe for the shares if they decide not to take up the offer.
PRACTICE NOTES
This Practice Note focuses on the key aspects of open offers and the matters that require consideration when an open offer is being carried out by a company either: • admitted to listing on the official list (Official List) of the Financial Conduct Authority (FCA) and to trading on the main market for listed securities of the London Stock Exchange (LSE) (Main Market) (listed company), or • admitted to trading on AIM, a market operated by the LSE (AIM company) (both a listed company and an AIM company being a company). It does not cover placings or rights issues. For information on these transactions see Practice Notes: Placings, A guide to cash box placings, Rights issues—key considerations and Rights issue—procedure for a listed company. What is an open offer? An open offer is: • an offer made by a company to existing shareholders • to subscribe for or purchase new shares (or other securities) for cash • in proportion to their holdings, ie a pre-emptive offer The