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GLOSSARY
The resuscitation of a patent application occurs where an application to resuscitate is made following the accidental withdrawal of the patent.
PRACTICE NOTES
What is the Retail Energy Code (REC)? The Retail Energy Code (REC) governs the retail aspects of the gas and electricity markets in Great Britain (GB). It facilitates implementation of the Office of Gas and Electricity Markets’ (Ofgem) Switching Programme and consolidates and harmonises various gas and electricity retail requirements that were previously set out in various other codes. For more information GB energy industry codes, see Practice Note: Industry Bodies and Codes—Great Britain Electricity and gas market. The Switching Programme is intended to encourage and improve consumers' experience of switching gas/electricity supplier. In particular, the Switching Programme is designed to enable fast switching. The new faster switching regime is being delivered via a new Central Switching Service (the CSS) which went live in July 2022 and is provided by the CSS Provider under the REC. The Data Communications Company (the DCC) is required by its smart metering communications licences to procure and deliver the CSS and is therefore the designated CSS Provider under the REC. For more information in relation to the developments
PRACTICE NOTES
This Practice Note provides an overview of some of the key aspects of UK energy retail market reform from 2017 onwards. What is the retail energy market? The UK retail energy market is the main interface between energy consumers and the energy system. It covers the sale of electricity by suppliers to end consumers—both domestic (such as households) and non-domestic (such as businesses). The retail market can be distinguished from the energy wholesale market, which covers the sale and purchase of electricity between generators and suppliers. For more information on the wholesale market, see Practice Note: The Great Britain electricity market—an introduction. Why is retail market reform needed? Since 2017, both the Gas and Electricity Markets Authority, acting through the Office of Gas and Electricity Markets (Ofgem, see Practice Note: Ofgem for more information) and the UK government (originally acting through the Department for Business, Energy and Industrial Strategy (BEIS) and subsequently through the Department for Energy Security and Net Zero (DESNZ)) have been considering concerns over the retail energy market and the need
GLOSSARY
The Retail Prices Index (RPI) is a measure of inflation published monthly by the Office for National Statistics. It measures the change in the cost of a basket of retail goods and services.
GLOSSARY
A client that is not a professional client (see Article 4(1)(11) of Directive 2014/65/EU (MiFID II))
PRACTICE NOTES
CASE HUB NOTE—appeals lodged before the General Court against the Commission’s 2015 decision in Cases T- 522/15, T- 523/15, T- 530/15 and T- 582/15 NOTE—appeal lodged before the General Court against the Commission’s 2020 decision in Case T- 130/21 ARCHIVED–this archived case hub reflects the position at the date of the decision of 24 June 2015; it is no longer maintained. See further, timeline. Case facts Outline European Commission Article 101 TFEU investigation into a cartel in the markets for retail food packaging trays (AT.39563). The Commission issued its decision and imposed fines totalling €115.865m on 24/06/2015. Appeals lodged at the General Court. Latest developments On 17 December 2020, the Commission issued a re-adopted decision against CCPL, imposing fines totalling €9.4m on three entities within the CCPL Group. This decision addresses the procedural errors identified by the General Court in Case T- 522/15 (where it annulled the fines imposed on the three CCPL entities due to a lack of sufficient reasoning concerning the reductions granted to them in the context of their applications for
NEWS
The Financial Conduct Authority (FCA) has published a package of reports assessing the state of the UK retail insurance market and outlining actions for firms, government and regulators to address identified shortcomings. The FCA examined the causes of rising motor insurance premiums, reviewed claims handling in home and travel insurance, evaluated the fairness of premium finance and assessed the impact of its pricing reforms. The FCA noted that external cost pressures, rather than increased firm profits, were the primary driver of motor premium hikes. It also raised concerns about poor claims handling and the value offered by some premium finance arrangements. The reforms, it said, have improved fairness for loyal customers without causing unjustified price increases.
GLOSSARY
A method which enables a retailer to determine the proportion of his taxable retail sales for all or part of a prescribed accounting period that is chargeable to tax at a non-zero rate.
PRACTICE NOTES
Introduction to company voluntary arrangements (CVAs) A CVA is a tool available to a company in financial difficulty to restructure its debts. In contrast to other insolvency procedures, the directors remain in control of the business which continues to operate broadly as normal, subject to the supervision of an insolvency practitioner (the Supervisor). A CVA is a statutory contract between the company and its creditors, which is intended to produce a better financial return than if the company was placed into a formal insolvency procedure. The proposals will be funded either by a lump sum payment or an agreed schedule of payments over a defined period (usually between 1–5 years). If 75% or more in value of the company’s creditors vote in favour of the proposals, they become binding upon all of the company’s unsecured creditors, including those who (1) voted against the proposals and (2) were eligible to vote but did not receive notice of the decision procedure/meeting (as relevant). Once bound by a CVA, a creditor cannot take any
PRACTICE NOTES
The Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023) amends the regime established by the European Union (Withdrawal) Act 2018. It has a significant impact on the status and treatment of what was retained EU law (REUL) during the 2021–23 period, and is now assimilated law. It includes a range of provisions and powers allowing for further amendment, repeal and replacement of assimilated law over time. REUL(RR)A 2023—background REUL(RR)A 2023 entered into force in part on 29 June 2023, with further provisions entering into force on 29 August 2023, and the remainder entering into force upon appointment.
FLOWCHARTS
The Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023) contains a range of legislative powers, enabling relevant national authorities to reform retained EU law (REUL) by introducing secondary legislation to amend, revoke, restate and/or replace REUL and assimilated law. The main legislative powers are set out in REUL(RR)A 2023, ss 11–16. The main procedural requirements (including parliamentary scrutiny procedures) for these instruments are set out in REUL(RR)A 2023, s 20 and Schs 4–5. REUL(RR)A 2023 sifting process—background Under REUL(RR)A 2023, before certain statutory instruments (described here as ‘REUL reform SIs’) are formally laid in Parliament, they have to go through a preliminary sifting process to confirm the appropriate parliamentary procedure. The sifting process is outlined in REUL(RR)A 2023, Sch 5 Pt 2, para 6. Under
PRACTICE NOTES
This Practice Note provides an overview of the Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023) and the background to its enactment. It summarises the process whereby retained EU law became known as assimilated law and associated changes. It also identifies impacted legislation that is relevant to family practitioners. Retained EU Law (Revocation and Reform) Act 2023—overview Retained EU law (REUL) was a concept introduced by the European Union (Withdrawal) Act 2018 (EU(W)A 2018) to provide legal continuity following the UK’s withdrawal from the EU and its political and legal institutions. REUL referred to the EU-derived law that applied in the UK immediately before 11pm on 31 December 2020 (implementation period (IP) completion day). EU(W)A 2018 provided for REUL to apply after IP completion day. Retained EU Law (Revocation and Reform) Bill—original plan The Retained EU Law (Revocation and Reform) Bill as first presented to Parliament sought to accelerate the process whereby REUL ceased to apply in the UK, most notably via the sunsetting (automatic revocation by a given