This Practice Note provides an introduction to restraint proceedings under Part 2 of the Proceeds of Crime Act 2002 (POCA 2002) and signposts practitioners to more detailed guidance on each aspect of the regime. This introductory guide is intended to assist those who are unfamiliar with restraint and is designed to provide a clear understanding of what restraint is, how and when it may become relevant and the key issues which lawyers need to be aware of when advising on this topic. It explains the purpose of restraint orders, the statutory conditions for obtaining them, the application process, and the court's powers to vary or discharge them. The Practice Note also briefly covers living and business expense exceptions, appointment of management receivers, mutual legal assistance in relation to overseas assets, restraint of cryptoassets, and the consequences of breaching a restraint order. What are restraint proceedings? Restraint proceedings are an integral part of the confiscation regime established by POCA 2002 and they take place in the Crown Court. Their primary purpose is to preserve assets that may ultimately

Charitable property held on conditions requiring it to be used for specific purposes, or in specific ways, rather than generally for the Charitable Objects of the relevant charity.

Rule 4.2 sets out the restrictions on dealings in the securities of the offeree by the offeror and concert parties during an offer period; such persons must not sell any securities except with the prior consent of the Panel. The rule should be considered in conjunction with the criminal insider dealing regime under the CJA 1993 and the market abuse regime under the UK Market Abuse Regulation.

Unrestricted funds—general use of assets The general principle which applies to the use of charity assets is that absent any specific restriction, both income and capital should be used in line with the charity’s purposes and with a view to the provision of public benefit. Where funds are held in unrestricted form, there may still be limits on whether income and capital can be spent on the charity’s assets. Any such limits would normally be contained in the charity’s constitution. Constitutions may apply conditions on the distribution of income and on whether income may be carried forward for expenditure in future years or accumulated and converted to capital. Conditions on the distribution of capital may also be set out in the constitution. Where a constitution is silent however, the normal expectation is that charity trustees will, as a minimum, distribute their income and be free to distribute capital. Funds which are not unrestricted will typically fall into three main categories: • designated funds (which are truly a subset of unrestricted funds)

Procedure for the procurement of goods, works or services by public sector, and some utility, bodies. In the restricted procedure, there is a pre-qualification stage, in which all interested parties can express their interest, but only those meeting the contracting authority’s selection criteria will be invited to submit a tender for contract. No negotiation with the tenderers is permitted.

The rules applying to directors and employees in relation to restricted securities contained within Chapter 2, Part 7 of Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) are commonly encountered in practice on corporate transactions involving management. Restricted securities are, broadly, employment-related securities which: • at the date of acquisition • are subject to identifiable restrictions • that reduce the value of the securities For the definition of employment-related securities, see Practice Note: What is an employment-related security? For a detailed explanation of the definitions of restricted securities and restricted interests in securities, see Practice Note: What are restricted securities? Restrictions are often intended to incentivise an employee or director to remain with the employing company and meet certain performance conditions. The restrictions may affect an employee's ability to retain shares (for example, the articles of association may oblige an employee to transfer shares to 'permitted transferees' on the occurrence of certain events such as resignation), or the general rights attaching to the shares (for example, restrictions on transfer, dividend

This Practice Note describes: • what 'restricted securities' are, and • how restricted securities are taxed The Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) introduced a new tax regime for the treatment of 'restricted securities'. The relevant legislation is contained in ITEPA 2003, Ch 2, Pt 7 and applies to restricted securities acquired on or after 16 April 2003. In order for a security to be caught by the restricted securities legislation, it must: • fall within the definition of 'security', and • be 'employment-related' 'Security' is a widely defined term which includes many different types of instrument including shares, loan stock and units in a collective investment scheme. Options over securities are not 'securities' and are taxed separately under ITEPA 2003, Ch 5, Pt 7. 'Employment-related' securities are described below. Restricted securities are often chosen by private companies as a method of incentivising senior employees and directors, as the acquisition of restricted securities gives the employee the opportunity to

This Agreement is made on [date] Parties 1 [INSERT NAME OF TRUSTEE] (registered in England and Wales under Company Number [insert company number]) whose registered office is at [insert company registered address] in its capacity as trustee of the [insert name of employee benefit trust] (the Seller); 2 [INSERT NAME OF EMPLOYEE] of [INSERT ADDRESS OF PARTICIPANT] (the Participant); and 3 [INSERT NAME OF COMPANY] (registered in England and Wales under Company Number [insert company number]) whose registered office is at [insert company address] (the Company). Background (A) The [insert name of employee benefit trust] (the Trust) was established by a trust deed dated [insert date of trust deed] (the Trust Deed) and the Seller is its trustee for the time being of the Trust. (B) The Seller holds, and wishes to sell to the Participant, the beneficial interest in [insert number of shares] [insert class and nominal value of shares] shares in the capital of the Company (the Shares) and the Participant wishes to purchase the beneficial interest in such shares from the Seller subject to and in accordance with the terms of

FORTHCOMING CHANGE: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and armed forces public service pension schemes). The Finance Act 2022 will also give members of registered pension schemes a right to take their benefits before age 57, if on or before 4 November 2021 they either had an ‘unqualified right’ to take benefits or were in the process of a substantive transfer to a scheme offering an unqualified right to a protected pension age of less than 57 on or before 4 November 2021. To benefit from this new 2028 protection, the rules of the pension scheme must have included (on 11 February 2021) an unqualified right to take the entitlement to scheme benefits before age 57. For further information, see Practice Note: Increasing the normal minimum pension age (NMPA) to 57—pensions impact. There has been government concern for some time about the level of termination payments in the public sector

Brexit 11 pm (GMT) on 31 December 2020 marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements came to an end and significant changes began to take effect across the UK’s legal regime. Transitional arrangements Economic operators (whether manufacturer, importer or distributor) that placed fully manufactured products on the EEA or the UK market (either in Northern Ireland or Great Britain) before 1 January 2021, do not need to do anything new in respect of that product. These individual products can continue to circulate on the market until they reach their end user and not need to comply with the changes that took effect from 1 January 2021. The relevant economic operator bears the burden of proof for demonstrating that the electrical and electronic equipment (EEE) was placed on the market before 1 January 2021, such as through providing contracts, invoices and shipping documents. Manufacturers are able to continue to use the CE

“Restriction of processing” means the marking of stored personal data with the aim of limiting its processing for the future.

This Practice Note explains the general principles that apply in relation to orders made under section 91(14) of the Children Act 1989 (ChA 1989) that prevent further applications being made under that Act without leave of the court. It sets out the requirements for an order under ChA 1989, s 91(14) (s 91(14) orders), duration of an order and factors that the court should take into consideration. It also looks at guidance for cases involving litigants in person. ChA 1989, s 91(14) provides that when a court disposes of any application for an order under ChA 1989 it can make an order that no application for an order under that Act of any specified kind may be made with respect to the child concerned by any person named in the order without the leave of the court. This applies whether or not it makes any other order in response to the application. On 19 May 2022, section 67 of the Domestic Abuse Act 2021 (DAA 2021) came into effect and