A trust for the life or lesser period of a beneficiary which is determinable on bankruptcy or some other specified event at which point a discretionary trust arises for the maintenance of the beneficiary and his family.

A protector is a person chosen by the settlor holding powers under a trust but who is not a trustee and is independent of the trustees. The protector’s role is usually to monitor, oversee or control the administration of the trust by the trustees.

What is a protector? A protector is a person who holds powers under a trust but who is not a trustee. A protector is a person who is independent of the trustee. The protector’s role is usually to monitor, oversee or exercise a degree of control over the administration of the trust by the trustee. It is common for a settlor to choose to provide for a protector where a third party/institutional trust company is appointed as trustee. Why have a protector? It is not a requirement to have a protector of a trust. The settlor of a trust will need to decide whether or not to provide for a protector. The power most commonly given to a protector is the power to appoint and remove the trustee of the trust. If there is no protector or no person (who is independent of the trustees who holds this power, then difficulties can arise if the beneficiaries are unhappy with the trustee and the trustee refuse to retire. Appointing a protector may also dilute the trustee’s

Usually a written agreement between insolvency representatives from one or more jurisdictions to aid co-operation in cross-border restructurings/insolvencies, also known as cross-border insolvency agreements.

Where one set of rules is converted to another set of rules, to enable entities using different rules to exchange information.

An elementary particle with unit atomic mass approximately and unit positive electric charge. One of the two elementary particles found in atomic nuclei.

A provable debt is a bankruptcy debt that must be proved in accordance with the Insolvency Rules 1986.

Whether a particular arrangement is construed to be a tenancy, rather than a service occupancy, will depend on the particular circumstances. A service occupancy is a form of licence that arises where: • it is an express term of the employee's contract of employment that they live in a particular residence from where they can better perform their duties, or • if there is no such express term, one can be implied on the basis that it is essential (rather than merely conducive) that the employee lives in particular accommodation for the better

This Practice Note provides practical guidance on the duties under Part 5 of the Online Safety Act 2023 (OSA 2023) that apply to online service providers (eg platforms) that display or publish pornographic content. These duties primarily revolve around age assurance measures, as they require such providers to: • implement highly effective age assurance measures to ensure children cannot access such services • keep written records of the measures implemented, and • summarise the written records in a publicly available statement This Practice Note explores which services are in scope, what the duties entail and how relevant providers may comply, with reference to Ofcom’s Guidance on highly effective age assurance and other Part 5 duties. Ofcom has a statutory duty under OSA 2023, s 82 to produce such guidance in order to assist service providers in complying with their duties under OSA 2023, ss 79–82 (Part 5). The services regulated under OSA 2023, Part 5 are those that display or publish pornographic content that is not user-generated (ie it

Pensions analysis: In the determination of Mr R, (CAS-54306-K6B1), the Pensions Ombudsman has rejected a complaint about a delay in crystalising pension benefits where he suffered high-rate tax on future pension withdrawals and used up more of his lifetime allowance than necessary. While the delay was maladministration, neither the transferring nor receiving scheme was liable for future tax charges. Futhermore, the complainant's loss was offset by a higher tax-free lump sum from increased fund value, resulting in a lower overall tax bill. Martin Scott of gunnercooke LLP looks at the decision.

Ways of providing death-in-service benefits Employers frequently offer their workforce death-in-service benefits (also known as 'life assurance' or 'life cover' benefits). The provision of death-in-service benefits is typically confined to employees (hence the name ‘death in service’), but the employer may in certain circumstances choose to extend the provision of such a benefit beyond retirement. Employers may provide death-in-service benefits by one of three methods: • by means of a standalone trust-based arrangement which, although a registered pension scheme for the purposes of Part 4 of the Finance Act 2004 (FA 2004), provides only death-in-service benefits—such schemes are commonly referred to as ‘life cover only schemes’, 'death-in-service schemes' or ‘standalone life assurance schemes’ • by means of a registered pension scheme (typically an occupational pension scheme) under which the death-in-service benefits form part of the wider benefit structure of the scheme. In this type of arrangement, a scheme member may receive: ◦ both death benefits (including death-in-service benefits) and retirement benefits, or ◦ death-in-service benefits only, eg because the member has elected

Providing false statement to an auditor The director of a company must produce a report each financial year, unless the company qualifies as a micro-entity (see sections 384A and 384B of the Companies Act 2006 (CA 2006)). The report must contain the information specified in CA 2006, ss 415–418. Where the small company exemption applies, the directors’ report is exempt from providing a statement of amount recommended by way of dividend. Specifically in relation to the provision of information to auditors, CA 2006, s 418 requires the directors’ report to contain a statement confirming that: • so far as each director is aware, that there is no relevant audit information of which the company's auditor is unaware, and • that the directors taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information All the directors who are directors at the time the report