The powers of a director cease on the liquidation of a company under section 103 of the Insolvency Act 1986 (IA 1986). The liquidator's powers are outlined in IA 1986, ss 165 and 166 and given in more detail in IA 1986, Sch 4 and the liquidator effectively takes over from the directors. If a company is put into creditors' voluntary liquidation (CVL) (by the passing of a resolution by the members of the company) but a liquidator is not appointed by the member of the company, then IA 1986, s 114 applies. This states that the powers of the directors may not be exercised during the period before the appointment of the liquidator—except with the sanction of the court. If

Short term occupancy Both tenancies at will and licences are suitable for short term or temporary occupation of land. Both types of occupancy can be on an informal basis but it is important, particularly in a commercial context, that the documents are carefully drafted to reflect the true nature of the arrangement. Otherwise, there is a risk that the arrangement might be held to be a periodic tenancy: see Javad v Aquil and Practice Note: Periodic tenancies. See also: • Licences and tenancies at will—overview • Practice Note: Leases and licences of land—key features and differences Tenancies at will A tenancy at will arises where the tenant is permitted to occupy a property with the landlord’s consent for an unspecified

Where property is held by co-owners as joint tenants, each has an indivisible share in the property, where each owns the whole, rather than an identifiable share of the property. The right of survivorship applies so, on the death of one joint tenant, the deceased’s interest in the property passes automatically to the other(s). The right of survivorship applies on death because death of one joint tenant creates no vacancy in the seising or possession (see Commentary: Right of survivorship (jus accrescendi): Halsburys Laws of England [202]). The question, therefore, is whether the death of a joint tenant and a company going into liquidation equates to the same thing and has the same effect. Under section 1(1) of the Bodies Corporate (Joint Tenancy) Act 1899 (BC(JT)A 1899), ‘…a body corporate shall be capable of acquiring

A consideration of the provisions within the Companies Act 2006 (CA 2006) will be required to determine whether the company can be served with the claim form in England. For information on this area, see Practice Note: Serving documents under the Companies Act 2006 which highlights the following: • if seeking to serve in an overseas company, you need to determine whether the company has registered its particulars under CA 2006, s 1046. Note: section 1056 of the Companies Act 1986 (CA 1986) ensues that where the information is registered it is available in a public register. The documents are filed by the overseas company at Companies House and should be available on the WebCheck part of the

The key regulations governing EPCs are the Energy Performance of Buildings (England and Wales) Regulations 2012 (EPC Regs 2012), SI 2012/3118, and the Building Regulations 2010, SI 2010/2214. An EPC is required: • when an existing building is sold or rented out • when a building under construction is finished • after refurbishment when there are greater or fewer separate parts of the building and the modification includes the provision or extension of fixed heating, air conditioning or mechanical ventilation systems An EPC is not required in respect of some buildings—see Practice Note: Energy performance certificates (EPCs)—what are they and when are they required?, in particular section: Energy performance certificates (EPCs)—what are they and when are they required?—Buildings that don't

As it stands, permission is needed from the court in order to issue proceedings against a company in compulsory liquidation. Under section 130(2) of the Insolvency Act 1986 (IA 1986), where a winding-up order has been made in relation to company, no action or proceedings may be commenced or continued with against the company without the permission of the court and subject to any such terms as the court may impose. For further information, see commentary: Company as claimant: Bailey & Groves Corporate Insolvency—Law & Practice [5.3] and Company as defendant: Bailey & Groves Corporate Insolvency—Law & Practice [5.5]. There are however some claims where permission of the court will not be required because the liquidation stay will not apply. For example, permission will not be required where the claimants are not proceeding against either the company or its property

It is assumed in this answer that the employee is purchasing an item, such as a washing machine, for their own domestic purposes through an employee discount scheme. There are various consumer protection laws designed to protect individual consumers against certain selling practices in respect of goods, services and digital content. Their purpose is to protect the consumer against unfair or misleading practices and give consumers appropriate remedies. These laws include: • the Consumer Rights Act 2015 (CRA 2015) which clarified, consolidated and expanded various consumer protection laws. CRA 2015 applies to contracts for goods, digital content and services and provides, for example, that goods and digital content must be of satisfactory quality and fit for purpose and contracts for services must be carried out with reasonable care and skill • the Consumer Protection from Unfair Trading Regulations 2008, (CPUTR 2008), SI 2008/1277 which prohibits unfair

The answer is that only one witness signature is required. This follows from Schedule 2 to the Requirements of Writing (Scotland) Act 1995 (RW(S)A 1995). RW(S)A 1995, Sch 2, para 3 deals with companies. RW(S)A 1995, Sch 2, para 3A deals with limited liability partnerships (LLP). Both paragraphs change RW(S)A 1995, s 3(1) in virtually identical terms. Amongst other matters, they substitute RW(S)A 1995, s 3(1C) for companies and RW(S)A 1995, s 3(1B) for LLPs. The effect of these subsections is that there is an important difference between documents that are subscribed by individuals and documents that are subscribed by companies and LLPs. If a document is to be subscribed by an individual and it is witnessed by one witness, it is presumed that it was signed by the person who is described

Paragraph 22(1) of Schedule B1 to the Insolvency Act 1986 (IA 1986) simply states that: ‘a company may appoint an administrator’.The formalities required for an administrator’s appointment are set out in the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, rr 3.23–3.26. When the appointment is to be made by a company, a company resolution to appoint an administrator must be filed at court with the Form IR 2016, LN r3.24 AM (Notice of appointment of an administrator by a company or the directors of a company (where notice of intention to appoint has been

This Q&A is based on the assumption that the company has sold the oil field assets and no longer retains a licence interest. UK resident companies, and companies with a UK permanent establishment, are potentially subject to three levels of tax on their profits from oil and gas: • ring fence corporation tax (RFCT) • the supplementary charge (SC), and • petroleum revenue tax (PRT) (albeit at a 0% rate from 1 January 2016) Profits chargeable to RFCT are broadly computed on the same basis as the normal corporation tax rules (with some exceptions). The SC is calculated on the same basis as corporation tax, but without deduction for finance costs. PRT is a cash flow tax charged on the basis of individual oil and gas fields and is deductible as an expense in computing

It may well be that the trust is a relevant property trust. Under section 2 of the Inheritance Tax Act 1984 (IHTA 1984), a chargeable transfer is a transfer of value which is made by an individual, provided it is not a Potentially Exempt Transfer (PET). Section 2 does not provide for a chargeable transfer to be made by a company. However, IHTA 1984, s 94(1) provides that: ‘…where a close company makes a transfer of value, tax shall be charged as if each individual to whom an amount is

It is assumed that one set of shareholders wishes to purchase the shares of the other set of shareholders. Refer to the Practice Note: Financial Promotion Order: Exemptions for corporate practice. Note that there is an exemption under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (FPO 2005), SI 2005/1529, art 43 which applies to non-real time communications and solicited real time communications (ie it does not apply to cold calls). It exempts communications a company makes to or directs at persons it reasonably believes to be its creditors, members and holders of other investments issued by it concerning its shares, debt instruments or entitlements