The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013, SI 2013/1970 came into force on 1 October 2013 and apply in respect of financial years ending on or after 30 September 2013. The key change effected to the narrative reporting regime by these regulations was to replace the business review with a strategic report. This is a concise, standalone report focused on strategy and the organisation's business model. These changes were effected by amendments to the Companies Act 2006 (CA 2006) and changes to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, SI 2008/410 and the Small Companies and Groups (Accounts and Directors' Report) Regulations 2008, SI 2008/409. For further information see Practice Note: The strategic report. Background There is a long history in the UK of making statements about trading and results in the directors' report, but the basic requirement for an enhanced review of a company's business in the directors' report derives from the EU Accounts Modernisation Directive. At the UK level,

This Q&A considers key elements of the directors’ remuneration reporting regime prior to 1 October 2013 and the legislative amendments that changed the regime. Background to the reforms Fundamental changes to the directors' remuneration reporting regime came into force on 1 October 2013. The Enterprise and Regulatory Reform Act 2013 (ERRA 2013) introduced a new reporting regime and shareholder voting requirements for quoted companies for accounting periods ending on or after 30 September 2013 (2013 regime). At the same time, the Large and Medium-sized Companies and Groups (Accounts and Reports) (Amendment) Regulations 2013, SI 2013/1981 (2013 Regulations) revoked and replaced Schedule 8, introducing a new format and a completely rewritten set of disclosure requirements for remuneration reports. ERRA 2013 and the 2013 Regulations made significant changes to the disclosure of how executive remuneration is structured and the company's decision-making process. The new disclosure requirements apply for financial years ending on or after 30 September 2013. For information on the new disclosure requirements, see Practice Note: Directors’

The Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996) was introduced with the intent of simplifying the regime that existed previously under the Settled Land Act 1925 (SLA 1925) and the Law of Property Act 1925 (LPA 1925). From the coming into force of TOLATA 1996 on 1 January 1997, it was no longer possible to create new settlements under SLA 1925 (TOLATA 1996, s 2), though existing settlements thereunder would continue to be governed by the old regime. TOLATA 1996, ss 4 and 5 further provided that the default provision in respect of any trust for sale is: ‘In the case of every trust for sale of land created by a disposition there is to be implied, despite any provision to the contrary made by the disposition, a power for trustees to postpone sale of the

On 28 January 2021, the Information Commissioner’s Office (ICO) published a communication on the Binding Corporate Rules (BCRs) following the EU-UK Trade and Cooperation Agreement. The document sets out how Brexit has impacted BCRs authorised under Directive 95/46/EC as well as those approved under the EU General Data Protection Regulation, Regulation (EU) 2016/679 (EU GDPR). BCRs under Directive 95/46/EC BCRs authorised by the ICO under the older Directive 95/46/EC regime continue to be recognised under the United Kingdom General Data Protection Regulation, Retained Regulation (EU) 2016/679 (UK GDPR) subject to certain steps being taken. The Data Protection Act 2018 (DPA 2018) also provides that the required safeguards may be provided for by a version of such BCRs incorporating changes where: • all of the changes are made in consequence of the withdrawal of the UK from the EU or provision made by regulations under

Prior to 22 March 2006, all life interest trusts (under which there was an immediate interest in possession) were essentially ‘transparent’ for Inheritance Tax (IHT) purposes ie the trust property was treated as though it belonged to the beneficiary with the interest in possession. If the person died, then the trust fund would be aggregated with the person’s free estate, and unless the transfer was exempt, the trustees would be responsible for paying their respective share of the total amount of IHT due. On 22 March 2006 these rules changed. From that date, with very limited exceptions, trusts are subject to IHT under the rules applicable to ‘relevant property’ (ie the rules that applied prior to 22 March 2006 only in the main to discretionary trusts) regardless of whether a beneficiary

This Q&A examines the circumstances in which companies were able to prepare summary financial statements for financial years ended prior to 30 September 2013. Background to reform of narrative reporting Companies are required to send a copy of their annual accounts and reports for each financial year to every member of the company, every holder of the company's debentures, and every person who is entitled to receive notice of general meetings, subject to the provisions of section of the Companies Act 2006 (CA 2006). For financial years ended prior to 30 September 2013, a company was able to, subject to certain conditions, send a summary financial statement (SFS) rather than its full accounts and reports to members and other persons who elected to receive them. The Companies (Summary Financial Statements) Regulations 2008, SI 2008/374 (the 2008 Regulations) set out the circumstances in which companies were able to prepare SFSs, the persons to whom they could have been sent and what they should have contained. The 2008 Regulations were revoked by the Companies

This Q&A explains the changes to Part 10 and practice direction 10 on 6 April 2022. On that date, Part 10 was substituted in its entirety and practice direction 10 was completely deleted. However, the old provisions in Part 10 and the practice direction continue to apply to proceedings commenced prior to 6 April 2022. The amendments The amendments came into force through: • Part 10—the Civil Procedure (Amendment) Rules 2022, SI 2022/101, r 1(2)) • Practice direction 10—140th practice direction update For insight,

This Practice Note is archived and not maintained. This Practice Note explains the modifications and disapplications introduced by the: • Early Years Foundation Stage (Learning and Development and Welfare Requirements) (Coronavirus) (Amendment) Regulations 2020, SI 2020/444 • Early Years Foundation Stage (Learning and Development and Welfare Requirements) (Coronavirus) (Amendment) (No 2) Regulations 2020, SI 2020/939 • Early Years Foundation Stage (Learning and Development Requirements) (Coronavirus) (Amendment) Order 2021, SI 2021/234 to the: • Early Years Foundation Stage (Learning and Development Requirements) Order 2007, SI 2007/1772 • Early Years Foundation Stage (Welfare Requirements) Regulations 2012, SI 2012/938 The Early Years Foundation Stage (EYFS) statutory framework sets the standards that all early years providers must meet to ensure that children aged 0 to 5 learn and develop well and are kept healthy and safe. As part of the national response to the coronavirus (COVID-19) pandemic, local authorities undertook a wide range of essential and additional functions, while also contributing to local

This News Analysis provides a round-up of some key developments in Debt Capital Markets and Derivatives in 2025 and looks ahead to what’s coming up in 2026. These include: developments in relation to the UK and EU prospectus regimes, the EU securitisation regime, sustainable finance and ESG, T+1 settlement, ISDA FX Definitions update, inflation derivatives and RPI reforms, ISDA benchmark fallbacks and 2025 Benchmark Modules. It also includes cases concerning contractual and tortious obligations in debt securities transactions and standing and enforcement rights of beneficial owners.

This News Analysis provides a round-up of the key developments for lending lawyers in 2025 and how they may evolve further in 2026. These include developments in relation to asymmetric jurisdiction clauses, execution of multi-party deeds, ECCTA 2023, the NSIA 2021, assignments, undue influence, security trusts, aviation finance and shipping finance.

Currently, the legislation which governs taxis and private hire vehicles differs, and there are also separate statutes which apply to London and Plymouth. In addition to the fact that the governing legislation is contained in many different Acts, it is also not reflective of the changes in how such services are utilised today. In 2012 the Law Commission began an initial consultation on taxis and private hire vehicles regulation. A comprehensive report was compiled over two years

National lockdown restrictions from 6 January 2021 Following immense pressure on the NHS and rapidly rising infection rates and hospital admissions due to the new variant of coronavirus, the government has announced a national lockdown effective in law from 6 January 2021. The national lockdown restrictions are set out in Health Protection (Coronavirus, Restrictions) (No 3) and (All Tiers) (England) (Amendment) Regulations 2021, SI 2021/8. The legislation strengthens the Tier 4 restrictions of Health Protection (Coronavirus, Restrictions) (All Tiers) (England) Regulations