The notice of intention to appoint will give five business days’ notice to any qualifying floating charge holder (QFCH) who is or may be entitled to appoint an administrative receiver or administrator. The QFCH has the following options: • appoint an administrative receiver or administrator of their choice (this is specifically carved out of the

If there is no person on whom a notice of intention needs to be served, the

If the company is authorised or carries on a regulated activity under the Financial Services and Markets Act 2000, consent in writing to the appointment of an administrator must be obtained from the Financial Conduct Authority (FCA) or the Prudential Regulatory Authority (PRA) (whichever applies to the entity to be placed into administration). This consent must be filed in court along with the notice of intention

The directors or the company will need to serve a notice of intention to appoint an administrator on the following: • any person who is or may be entitled to appoint an administrative receiver of the company, and • any person

When appointing two trustees to receive a legacy for a minor who is absolutely entitled under section 42(1) of the Administration of Estates Act 1925 (AEA 1925), personal representatives (PRs) receive a good discharge and are freed from all further liability in respect of the legacy. AEA 1925, s 42(1) permits the PRs ‘to do any assurance or thing requisite for vesting such devise, legacy, residue or share in the trustee or trustees so appointed’ and that ‘the same

Dispute Resolution analysis: It is the strong policy of English law, based on party autonomy and freedom of contract, to enforce exclusive jurisdiction clauses (EJC) and arbitration clauses in contracts. What then is a court to do when the parties, in their wisdom, include both an arbitration clause and an EJC in their contract? Although, in principle, the answer to that question must be determined by the proper construction of the particular clauses in the particular contract, the court in Melford Capital Partners (Holdings) LLP and others v Digby reached the same result as earlier first instance decisions, which was to give primary effect to the arbitration clause and rule that the EJC merely identified the Court with supervisory jurisdiction over that arbitration. The court also held that an action brought by the claimants before the English court for narrowly defined injunctive relief did not amount to a waiver of the London Court of International Arbitration (LCIA) arbitration clause or the EJC in favour of the courts of Guernsey in the contracts concerned. Written by Chirag Karia QC, barrister at Quadrant Chambers.

What is an assessment notice? Assessment notices are a feature of compulsory data protection audits introduced into the ICO's regulatory toolkit by the Coroners and Justice Act 2009. Under s41A of the Data Protection Act (DPA) the Information Commissioner’s Office (ICO) may serve certain data controllers with an assessment notice in order to investigate compliance with the data protection principles. The scope of operation of assessment notices is limited and a data controller will be subject to these powers (a 'relevant data controller') if it is: (a) a government department, (b) a public authority designated for the purposes of this section by an order made by the Secretary of State, or (c) a person of a description designated for the purposes of this section by such an order. Currently under this section, the ICO has compulsory data protection audit powers over central Government departments only. However, the ICO has indicated that it wishes to extend the ambit of these

Commercial lending transactions often involve the provision of finance to large corporate entities. However, in many cases, commercial lending transactions will involve dealings with an individual (for example, an individual might be providing a guarantee and/or security over their residential property for a business loan), a partnership or a small/medium-sized business enterprise. As a result, lenders will need to be aware of when consumer related legislation could apply as this may be relevant to such transactions. Consumer credit law The key pieces of legislation in this area that lenders should be aware of are: • the Consumer Credit Act 1974 (CCA 1974) • the Financial Services and Markets Act 2000 (FSMA 2000), and • the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO) The Consumer Credit Act 1974 and related legislation The aim of CCA 1974 is to protect consumers by providing a comprehensive set of rules and regulations in relation to consumer credit, consumer hire and other types of consumer

This Practice Note provides a summary of the law on gaming and wagering as it applies to financial derivatives, and the relevant provisions of the Financial Services Act 2000 (FSMA 2000) and the Gambling Act 2005 (GA 2005). Summary of the law on gaming and wagering applying to financial derivatives Gaming Acts 1845 and 1892 Under section 18 of the Gaming Act 1845 (GA 1845), all contracts by way of gaming or wagering were null and void and no action could be brought to recover any sum won upon any wager. Under section 1 of the Gaming Act 1892 (GA 1892), any promise, express or implied, to pay any person any sum of money paid by him under or in respect of any contract or agreement rendered null and void by GA 1845, s 18, or to pay any sum of money by way of commission, fee, reward, or otherwise in respect of any such contract, or of any services in relation thereto or in connection therewith, was null and void, and no action

This Q&A looks at export controls under the Export Control Act 2002 (ECA 2002), the Export Control Order 2008, SI 2008/3231 and other assimilated EU regulations. Export controls are laws that require the licensing of the export, brokering or transhipment of certain controlled items. See Practice Note: Export controls—requirement for an export licence. It is important to always check the government website for whether an item is subject to export controls (a ‘controlled item’). An item may be a controlled item if: • it appears on the government’s consolidated control list • there are concerns about the intended end-use or end-user (known

Public Law analysis: This claim concerned the use of non-governmental communication systems (particularly WhatsApp and private email) for government business. The Good Law Project (‘GLP’) contended that the use of such systems meant that public records that should be retained were instead deleted or otherwise not available to be preserved for the public record. It argued that this was unlawful because it was incompatible with a statutory duty under section 3(1) of the Public Records Act 1958 (PRA 1958) and because it amounted to an unjustified breach of policy. Its claim failed in the Divisional Court, whose judgment was upheld by the Court of Appeal. The Court of Appeal held that there is no legal duty, enforceable by judicial review, to create and maintain records so that they are available for posterity, such that it is unlawful to use some modern methods of communication. It further held that the eight so called policies identified by GLP were not enforceable as matter of public law. Written by Jonathan Lewis, barrister at Henderson Chambers.

We refer you to the following content that may be helpful in your research: • Practice Notes: ◦ Estate accounts ◦ Beneficiaries’