An opt-out refers to an exemption that allows a member state not to take part in a particular policy area, or not to apply a Union act within its borders.

A regulated activity whereby an individual decides to opt-out or decline to join a final salary or money-purchase occupational pension scheme of which they are a current member or which they are, or at the end of the waiting period will become, eligible to join in favour of an individual pension contract

defined in CPR PD 31B para 5(9) to mean the computer facilitated recognition of printed or written text characters in an electronic image in which the text based contents cannot be searched electronically. Also known as OCR

CASE HUB (Appeals lodged at the General Court in Cases T- 762/15, T- 763/15, T- 772/15, T- 1/16 and T- 8/16) ARCHIVED–this archived case hub reflects the position at the date of the decision of 21 October 2015; it is no longer maintained. See further, timeline. Case facts Outline European Commission Article 101 TFEU investigation into a cartel in the market for optical disk drives (Case AT.39639). The cartel involved the coordination of prices in procurement tenders organised by Dell and Hewlett Packard (HP). The Commission issued its infringement decision and imposed fines totalling €116m on 21/10/2015. Latest development On 21 October 2015, the Commission announced that, following an investigation, it has issued an enforcement decision against Philips, Lite-On, their joint venture Philips & Lite-On Digital Solutions, Hitachi-LG Data Storage, Toshiba Samsung Storage Technology, Sony, Sony Optiarc and Quanta Storage, imposing fines totalling €116m. Philips, Lite-On and Philips & Lite-On Digital Solutions received 100% immunity from their fines, as they informed the Commission

Defined in CPR PD 31B para 5(9) to mean the computer facilitated recognition of printed or written text characters in an electronic image in which the text based contents cannot be searched electronically.

Cable made of glass fibres through which signals are transmitted as pulses of light. It is a broadband medium that can easily provide capacity for a large number of channels.

CASE HUB (not maintained since decision on 20/11/2013) ARCHIVED–this archived case hub reflects the position at the date of the decision of 20 November 2013; it is no longer maintained. See further, timeline and commentary. Case facts Outline UK merger investigation into the completed acquisition by Optimax Clinics Limited of Ultralase Limited. Latest developments The CC published its final report on 20 November 2013 and cleared the merger under the failing firm defence. The CC has concluded that Ultralase was a failing firm and would have exited the market if the merger didn't take place. The alternative outcome instead of the merger was that the large majority of its sales would have gone to Optimax and the market leader Optical Express (the UK market leader). Therefore, the CC is of the opinion that the merger is

The creation of a portfolio which will give you the highest expected return for a given set of forecasts and estimated risks.

A computer programme that generates an efficient frontier, given particular input assumptions.

Describes a situation in which an employee decides to leave an occupational pension scheme or chooses not to join one.

A contract that entitles a party to buy or sell an asset for an agreed price on a specified date.

Call or put option? In a 'call' option the buyer will have control in that it may call for a transfer of the property. A 'put' option gives the seller control in that it can require the buyer to take a transfer of the property and therefore the buyer should be especially vigilant in ensuring that the terms for the transfer (particularly those relating to valuation and, if appropriate, insurance) are as favourable as possible. Seller's charges If the property is already mortgaged at the date of grant of the option agreement, there is a risk that the mortgagee may overreach the option by exercising its power of sale. Therefore ensure that the mortgagee either: • joins into the agreement (this is rare in practice), or • provides written consent to the granting of the option In either case, the mortgagee should confirm that if the buyer exercises the option it will acquire the property free from the charge or, if the mortgagee exercises its power of sale, it cannot sell free from the option. Is