This refers to where the borrower has the option, in relation to an interest period, to either pay interest in cash or to pay it (or a proportion of it) in kind. This may be limited to a certain percentage of the margin and to a certain number of times per year or over the life of the facility.

The Planning Inspectorate (PINS) has added an appeal form to its guidance on appealing a discontinuance notice. The guidance applies to England and sets out the procedure for owners, tenants or lawful occupiers of property to appeal a discontinuance notice issued by a local planning authority in relation to the display of an advertisement or sign.

The Planning Inspectorate (PINS) has announced that development consent has been granted for the A66 Northern Trans-Pennine Project. The project will improve the A66 between the M6 at Penrith and the A1(M) at Scotch Corner, resulting in an 80km route with two lanes in both directions.

The Planning Inspectorate (PINS) has announced its approach to casework in the period leading up to the General Election on 4 July 2024. PINS must ensure that, where proposals have raised sensitivities, decisions and recommendations cannot be deemed to have influenced the election in any constituency or, more broadly, across the country. Managers within PINS will assess whether a decision or recommendation should be halted until after the announcement of the election results.

The Planning Inspectorate (PINS) has announced that development consent has been granted for the Sheringham and Dudgeon Extension projects by the Secretary of State for Energy Security and Net Zero. These extension projects have a combined offshore wind generating capacity of 719MW.

The Planning Inspectorate (PINS) has announced that a new National Infrastructure website is being built. The new website will continue to provide information on nationally significant infrastructure projects, such as power stations, highways and power lines.

The Planning Inspectorate (PINS) has announced its submission deadlines for planning and enforcement appeals in England during the 2024 Christmas and New Year period. Parties are advised to comply with the existing deadlines for submitting documents during the weeks commencing 23 and 30 December 2024. If a deadline falls on a bank holiday, documents should be submitted prior to that date. While case officers may consider extension requests on a case by case basis, deadlines will not be extended beyond 10 January 2025.  For enforcement appeals, PINS cannot extend the time for making an appeal beyond the effective date on the enforcement notice. However, they will extend deadlines for all facts, grounds, and fee requests to accommodate the holiday period.

The Planning Inspectorate (PINS) has announced a three-phrase publication plan for updating its Nationally Significant Infrastructure Projects (NSIPs) advice collection. The first phase, published on 8 August 2024, includes 12 new and updated advice notes, making reference to new elements of the infrastructure planning system, such as the PINS' tiered pre-application services as outlined in the 2024 Pre-application Prospectus and Pre-application stage guidance, the fast-track consenting route, updated information about making relevant representations and how to submit them on the new Find a National Infrastructure Project website.

The Planning Inspectorate (PINS) has announced upcoming changes to the planning appeal submission process. Paper appeal forms will no longer be issued from 1 December 2025 and will not be accepted from 1 April 2026. From that date, appeals must be made via the Appeal a Planning Decision digital service. The new process will initially apply to householder, section 78 (full planning) and section 20 (listed building and conservation area) appeals, with other appeal types to be added in the future. Other appeal types should continue to be submitted via the Appeals Casework Portal or by post using paper forms. PINS will also update its published correspondence address from 1 December 2025.

The Planning Inspectorate (PINS) has announced that the Medworth Energy from Waste Combined Heat and Power Facility project has been granted development consent by the Secretary of State for Energy Security and Net Zero. The proposal involves an Energy from Waste combined heat and power facility with a maximum gross capacity of 58MW.

The Planning Inspectorate (PINS) has approved a Crown development application for the continued use and further development of the Sevington Inland Border Facility in Kent. The application was submitted by the Department for Transport (DfT), the Department for Environment, Food and Rural Affairs (Defra) and His Majesty’s Revenue and Customs (HMRC). The approved development includes construction of buildings, goods vehicle and staff parking areas, entry lanes, refrigerated trailer zones, site access, utilities, hardstanding, landscaping, and ancillary facilities. The site will also operate as an Inland Border Facility and Border Control Post on a 24/7 basis.

The Planning Inspectorate (PINS) has stated that, in the lead up to local government elections, it will not be issuing decisions, reports or advisory letters in cases or examinations where known candidates have made representations until after the election days on 11 April 2024 and 2 May 2024, unless a statutory duty to a timetable applies. PINS is taking this position to ensure it cannot be seen to have influenced the election or have been used to electoral advantage by any interested body. An appeal case may be held back in instances where it may give rise to electoral sensitivities.