Who is the nominee and what is their role in the CVA? The nominee is a key individual in a company voluntary arrangement (CVA). For further information on CVAs generally, see: Company voluntary arrangements—overview. The nominee has a role up to the time at which the proposal for the CVA is either approved or rejected. The nominee must be a licensed Insolvency practitioner (IP). This requirement ensures that a CVA will be subject to independent scrutiny. Previously, there was a provision under section 389A of the Insolvency Act 1986 (IA 1986) to allow other individuals to be authorised to act solely as nominees or supervisors in voluntary arrangements. However, these provisions were never used and IA 1986, s 389A was removed by the Deregulation Act 2015 and replaced by the introduction of a regime for the partial authorisation of insolvency practitioners. The nominee and supervisor of a CVA occupy nearly identical roles to the nominee and supervisor of an individual voluntary arrangement (IVA). Therefore case

Administration of the scheme The scheme document will need to specify how the scheme of arrangement (scheme) will be administered and by whom. In circumstances where there are still issues to be finally determined between scheme creditors or assets to be collected or realised on behalf of the estate it can be helpful or necessary to appoint a scheme administrator. This will usually be a third party, often referred to as a scheme supervisor or scheme administrator. Any such scheme supervisor is generally either a licensed insolvency practitioner or an expert in the scheme company’s industry sector. Role of the supervisor The role given to the scheme supervisor or administrator should be carefully thought out and their powers and obligations clearly delineated. The appointment of a scheme supervisor will allow such person(s) to supervise, administer and implement the scheme and to discharge the duties and responsibilities imposed on them by the scheme (usually as agent of the company). The role of the scheme supervisor in a scheme

Who is the nominee/supervisor and what is their role in the individual voluntary arrangement? The nominee and the supervisor are key individuals in an IVA. They are often the same individual but there is no requirement that they have to be. The nominee has a role up to the time at which the IVA proposal for the IVA is either approved or rejected. If the IVA proposal is approved, the supervisor is responsible for ensuring that the IVA is implemented in accordance with its terms. An individual cannot act as a nominee or supervisor of an IVA without being a licensed insolvency practitioner (IP). This requirement ensures an IVA will be subject to independent scrutiny and professional supervision. Under section 253(2) of the Insolvency Act 1986 (IA 1986) and Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 8.3, the IVA proposal must contain the name, address and qualification, and regulated professional body of the proposed supervisor and

Who is the supervisor and what is the supervisor’s role in a company voluntary arrangement (CVA)? The supervisor is a key individual in a CVA. For further information on CVAs generally, see Practice Note: Company voluntary arrangements. If a proposal for a CVA is approved, the supervisor is responsible for ensuring that the CVA is implemented in accordance with its terms. The supervisor must be a licensed insolvency practitioner (section 1(2) of the Insolvency Act 1986 (IA 1986) and the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 2.3(1)(i)). Previously, there was a provision under IA 1986, s 389A to allow other individuals to be authorised to act solely as nominees or supervisors in voluntary arrangements. However, these provisions were never used and IA 1986, s 389A was removed by the Deregulation Act 2015 and replaced by the introduction of a regime for the partial authorisation of insolvency practitioners. The IR 2016, SI 2016/1024 apply to CVAs. A supervisor of a CVA occupies an

Roles and responsibilities within a financial institution This Practice Note is designed to cover the key roles within a financial institution, the responsibilities that each such role has and how and when an in-house lawyer may come into contact with these roles. Financial institutions may include investment banks, retail banks, private wealth banks or other investment arms—including asset managers or funds. This Practice Note is primarily aimed at in-house banking and finance lawyers working at investment banks. Front office The front office is the client-facing side of a bank which generates the bank's revenue. Some of the roles of individuals working in the front office might include: • selling new trading ideas and concepts to investors • helping clients find solutions to their financing issues • originating and/or distributing investment products • trading secondary market products • issuing debt securities via the debt capital markets • commercial lending, and • compiling research reports In an investment bank, the sales and trading components

On construction projects there may be a large number of professional consultants involved, all carrying out separate roles. The number of consultants depends on the size of the project and who appoints them will depend on the type of procurement. However, for most projects, the key consultants remain the same. This Practice Note explains what each of the key consultants does and highlights their main duties. For an explanation of the roles of the parties typically involved in a construction project (including the consultants but also the employer, contractor and sub-contractor), see Practice Note: Parties in a construction project. For an illustration of the contract structure of a typical construction project, and the way that the consultants fit into it, see: Structure of a development project—diagram. Architect The architect is usually the most important, or lead, consultant on a building project (as opposed to an engineering project). The architect is usually the consultant that an employer will engage first in respect of a project so that it can provide initial design advice and prepare a feasibility

Family analysis: In MAS v ZK Mr Justice Cusworth, authorised the publication of judicial observations to clarify the roles of public bodies in forced marriage cases, where the person at risk is located abroad. Cusworth J drew together the existing guidance and set out his observations to assist in a greater understanding of what is possible in those circumstances, and the roles of different public bodies. Rhiannon Guibert, consultant solicitor at Simons Muirhead Burton, considers his observations.

Roles, powers and duties of administrators The core of an administrator's role is to achieve one of the three purposes of the administration set out in the Schedule B1, paragraph 3 to the Insolvency Act 1986 (IA 1986). In doing this an administrator acts for all creditors, not just the person that appointed them. An administrator can be appointed by court order or out of court by filing of certain forms at court. For more information on administration, including its purpose and effect, see Practice Note: Administration—an introductory guide. The role, powers and duties of an appointed administrator are set out in IA 1986 and the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. An administrator's powers and duties are set out in IA 1986, Sch B1, paras 59–64 and IA 1986, Sch 1 and are wide—they include the ability to manage the affairs of the company, enter into contracts, sell assets etc. An administrator acts as an agent for the company. They therefore do not assume personal

What is an administrative receiver? The Insolvency Act 1986 (IA 1986) sets out that an administrative receiver is: • a receiver or manager of the whole (or substantially the whole) of a company’s property appointed by or on behalf of the holders of any debentures of the company secured by a charge which, as created, was a floating charge, or by such a charge and one or more other securities, or • a person who would be such a receiver or manager but for the appointment of some other person as the receiver of part of the company’s property Powers An administrative receiver shall have all the powers conferred on them by the instrument under which they were appointed and (provided they are not inconsistent with that instrument) those specific powers set out in Schedule 1 of the Insolvency Act 1986. A person dealing with an administrative receiver in good faith and for value is not concerned to inquire whether they are acting within their powers. An administrative receiver

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This Practice Note is about roll-over relief for capital assets, which is a deferral of capital gains tax, or corporation tax on chargeable gains, for certain disposals of business assets where the proceeds of the disposal are reinvested in other business assets. Where a business disposes of plant and machinery so that it can upgrade to more up-to-date equipment, or sells land and buildings so that it can relocate to new premises, it may realise a chargeable capital gain (see Practice Note: What is a capital gain?). If traders in this situation were to suffer an immediate tax charge, this could act as a disincentive for businesses to modernise, expand or relocate. Hence the existence of roll-over relief for business assets. The broad rationale behind the relief is that capital gains on business assets can remain untaxed for so long as the gains are reinvested in other assets used in the business. Where a person: • carries on a trade • disposes of a qualifying asset (the old asset) that is used in the trade

This Practice Note is about the roll-over relief that applies under the corporate intangible assets regime in Part 8 of Corporation Tax Act 2009 (CTA 2009). The relief is not automatic and must be claimed. The relief applies if a company realises an IFA (the old asset) and incurs expenditure on the acquisition of another IFA (the new asset). It can also apply where the new asset is acquired by a member of the same IFA group. Broadly, the relief works by deferring the whole or part of the taxable credit arising on the realisation of the old asset. The credit is brought back into charge when the new asset is realised (unless roll-over relief applies to that realisation as well). It is important to note that, if any debits have been brought into account in respect of the old asset (for example, by way of tax relief for amortisation) the relief will not defer the whole of the realisation credit. A similar roll-over relief is available for capital assets that are taxed under the