The Saudi Press Agency (SPA) has reported that the Cabinet has approved an updated investment law for Saudi Arabia, bringing together existing freedoms and rights and applying them to investors under a unified framework, allowing more transparency, flexibility and confidence for investors.

ARCHIVED: This Practice Note has been archived and is not maintained. Last updated 12 March 2025. Tracker overview This archived Practice Note tracks special purpose acquisition companies (SPACs) and cash shell companies which have been admitted to trading on the London Stock Exchange’s Main Market or AIM over the period 2019 to 2024. It also tracks their further fundraisings, reverse takeovers, de-listings and any transfers between markets until completion of their investment (de-SPAC transaction). UKLR listing category for shell companies On 29 July 2024, a separate listing category for shell companies (including SPACs) was introduced into the UK Listing Rules with bespoke rules for such companies set out in UKLR 13. The rules carry forward the ‘SPAC-friendly’ provisions (previously in LR 5.6.18AG) which allow bigger SPACs with certain investor protection provisions in place to avoid the presumption that their listing will be suspended on the announcement/leak of an acquisition. For more details on the shell companies listing category see Checklist: UK Listing Rules (UKLR) listing categories—comparison of eligibility requirements and key continuing obligations and

A supplementary protection certificate (SPC) extends the protection conferred by a patent to a particular plant protection or medicinal product by up to five years, provided certain conditions are met.

The Supreme People's Court (SPC) and the Ministry of Justice (MoJ) have issued a guideline to enhance the arbitration system to support the high-quality development of the Guangdong, Hong Kong and Macao Greater Bay Area (GBA). The guideline allows Hong Kong or Macao-funded enterprises in the GBA to choose arbitration seat in either mainland city or Hong Kong and Macao. It outlines plans for the Guangdong, Hong Kong and GBA International Commercial Arbitration Center, integrating pilot centers in Guangzhou and Shenzhen with Hong Kong and Macao legal and dispute resolution service centers and aims to establish unified arbitration rules and an online dispute resolution platform. The guideline also outlines the requirements for the expansion of service areas of arbitration institutions in the nine mainland cities of the GBA and proposes the establishment of a mechanism for joint training and development of foreign-related arbitration professionals.

The Scottish Property Federation (SPF) has submitted its response to the Scottish Government's Building Safety Levy (BSL) September 2024 consultation, calling for exemptions for small and medium-sized enterprise (SME) developers, the Build to Rent (BTR) sector and all affordable housing developments. The response argues that the blanket application of the BSL, intended to fund the Cladding Remediation Programme, risks undermining housing delivery due to its impact on development viability. The SPF notes that the housing sector already contributes to cladding remediation through taxes and voluntary means, alongside existing planning obligations. The SPF specifically highlights concerns about the disproportionate impact on BTR developments, due to their lack of upfront sales revenue. It also points out that the proposed exemption for affordable housing covers only publicly funded projects, potentially deterring private capital investment in the sector.

The Scottish Property Federation (SPF) has published commentary on the amendments to the Housing (Scotland) Bill, passed by the Scottish Parliament, which introduce rent controls for purpose-built student accommodation (PBSA). The SPF expressed concerns that these amendments could disrupt investment in much-needed new student accommodation and further limit the availability of accommodation for students. The SPF has committed to continue engaging with Members of the Scottish Parliament and the Scottish Government as the Bill progresses.

The Society of Pension Professionals (SPP) has published a discussion paper examining the development of a framework to enable the release of surplus from ongoing defined benefit (DB) pension schemes. The paper explores how a future regime could allow surplus to be distributed while maintaining appropriate safeguards for members and overall scheme security. It follows government plans to introduce new flexibilities under the forthcoming Pension Schemes Bill.

Law360: The Society of Pension Professionals (SPP) on 13 February 2025 signaled its support for proposals consulted on by the Financial Conduct Authority (FCA) which would allow pension providers to offer better support to pension savers prior to retirement as part of its Advice Guidance Boundary Review (AGBR), but said more detail was needed before plans go live.

The Society of Pensions Professionals (SPP) had issued a response to a call for evidence on the Pensions Investment Review by HM Treasury, Department for Work and Pensions, Ministry of Housing, Communities and Local Government. The SPP details its response to the questions posed, and suggests the comprehensive paper 'Solving the UK Investment Puzzle' published by themselves would be a useful contribution in helping government and industry to achieve an outcome that best serves the interests of all involved parties.

Law360: The government must drop its plan to introduce a 'reserve power' that will allow it to force pension funds into making UK investments, the Society of Pension Professionals (SPP) warned on 22 August 2025.

The Society of Pension Professionals (SPP) has published a discussion paper, Governance in the Age of AI: A Practical Framework for Responsible Leadership, setting out a risk-based governance framework to help pension trustees oversee the growing use of artificial intelligence (AI) across pension schemes. The paper notes that AI adoption across the pensions industry has accelerated ahead of dedicated regulation and argues that trustees should apply existing governance, fiduciary and risk management duties to AI rather than treat it as a separate discipline. It proposes five overarching principles: transparency, accountability, proportionality to risk, security by design and meaningful human oversight, and aligns its recommendations with The Pensions Regulator's (TPR) 2026 AI Plan.

The Society of Pension Professionals (SPP) has published a paper examining indexation of pre-1997 defined benefit (DB) pensions, questioning whether inflation protection should remain at scheme discretion or become government policy. Currently, these benefits have no statutory requirement for indexation, unlike post-1997 benefits, which raises fairness concerns for members as the real value of pensions erodes over time. The paper explores the financial impact of mandating indexation, noting that such a change would significantly increase liabilities and could destabilise scheme funding. It also considers trustee duties to balance member interests with employer affordability and reviews member expectations around inflation protection.