1 Pandemic management team and strategy Action point Owner Status and comments Identify a person to lead the Pandemic management team (Pandemic management coordinator) and clearly define their role [Insert name or role of owner of this action point] [Confirm status and add comments as required] Establish a Pandemic management team, to include representatives from the following functions:—senior leadership;—finance;—business units;—human resources;—business continuity;—risk management;—[real estate OR property] management;—facilities management;—communications;—legal. Pandemic management co-ordinator [Confirm status and add comments as required] Clearly define the responsibilities of each member of the Pandemic management team. Pandemic management co-ordinator [Confirm status and add comments as required] Draw up a high-level Pandemic management strategy. [Insert name or role of owner of this action point, eg Business unit heads] [Confirm status and add comments as required] Create a schedule of the Pandemic management team members, with full contact details (and annex to the Pandemic management strategy). [Insert name or role of owner of this action point, eg Business unit heads] [Confirm status and add comments as required] [Insert next] [Insert name or role of owner of this action point] [Confirm status and add comments as required] 2 On-site operations Action point Owner Status and comments Establish whether there are any business-critical

ARCHIVED: This content was published in 2021 and is not maintained. The Market Standards trend report provides in-depth analysis of the 22 firm offers, 24 possible offers and two formal sale processes and/or strategic reviews, which were announced by Main Market and AIM companies subject to the Takeover Code (Code) in H1 2021. It includes insight into public M&A trends and what we and our contributors expect to see in H2 2021 and beyond. What does the Market Standards trend report cover? Topics covered include: • outlook for H2 2021 • deal value and volume • deal structure • hostile, competing and mandatory offers • P2P transactions • UK and international bidder activity • industry focus • post-offer statements of intention (POI statements) and coronavirus (COVID-19) • shareholder engagement on takeovers • legal and regulatory developments The report includes analysis of high profile transactions, including the £3.5bn offer for Signature Aviation by a consortium comprising Blackstone, Global Infrastructure Partners and Bill Gates’s, Cascade Investments, and shareholder engagement on the Morrisons, St Modwen Properties

Key provisions of the Act On 25 June 2020, after less than 40 days in Parliament, the Corporate Insolvency and Governance Act 2020 (CIGA 2020) received Royal Assent. This Act, which contains reforms to UK insolvency law, mostly came into force on 26 June 2020. CIGA 2020 is designed to help companies and other entities stay afloat where they find themselves in financial difficulties as a result of the coronavirus crisis. Among other things, CIGA 2020 includes the following provisions: • introduction of a company moratorium—directors of insolvent companies or companies that are likely to become insolvent can obtain a 20 business day moratorium period to allow viable businesses time to restructure or seek new investment free from creditor action (ie to give the company some breathing space). The moratorium period may also be extended. The moratorium is overseen by an insolvency practitioner acting as a ‘monitor’ although the directors remain in charge of running the business on a day-to-day basis (known as a ‘debtor-in-possession’ process with the company being the ‘debtor’). The

Background to the Corporate Insolvency and Governance Act 2020 (CIGA 2020) Spurred on by the coronavirus (COVID-19) pandemic and a desire to mitigate the effect on businesses of the government-imposed lockdown, the Corporate Insolvency and Governance Bill received Royal Assent on 25 June 2020 resulting in the CIGA 2020. This followed the government’s previous consultation on proposed changes to the UK’s insolvency regime in 2016, its response to which was published on 26 August 2018 (see News Analysis: Exploring the government’s response to the insolvency and corporate governance consultation). Among the reforms, the CIGA 2020 introduced new provisions into the Insolvency Act 1986 (IA 1986) to ensure the continuity of essential supplies and restrict contractual termination provisions on insolvency (so-called ‘ipso facto’ clauses). For an overview of the CIGA 2020, see News Analysis: Corporate Insolvency and Governance Act 2020. What are ipso facto clauses? When a company is subject to an insolvency procedure, creditors often seek to improve their position by threatening to terminate their supply of goods or

ARCHIVED: This Practice Note has been archived and is not maintained. For more information, see subtopic: New and updated content in Practice Compliance. This Practice Note tells you, on a month-by-month basis, whether we have amended existing content or published new content in Practice Compliance. This content may have been added or amended to reflect regulatory changes or as part of our ongoing content development. December 2021 New or updated? Content Reason New Practice Notes:—Practice Compliance forecast as at 14 December 2021—Practice Compliance crime prevention forecast as at 14 December 2021 Content development New Precedent: DPIA or PIA approval form Content development New Practice Note: Coronavirus (COVID-19)—managing the workplace 30 November 2021 to 23 February 2022 [Archived] Content development to reflect latest government guidance. Updated Practice Note: Money Laundering Regulations 2017—governance and reporting lines Updated for SRA guidance on AML governance—Three Pillars of Success. Updated Practice Note: Trans, gender reassignment and gender identity issues in the workplace Updated to reflect Forstater and references

Why harmonisation is needed The divergence between various countries’ insolvency laws has an impact on: • the recovery rates of creditors in different jurisdictions • investment decisions, and • the restructuring of groups of companies A more coherent approach should not only improve returns to creditors and the flow of cross-border investment, but also have a positive impact on entrepreneurship, employment and innovation. The World Bank has in the past produced substantial reports to show improved insolvency laws promote greater investment in that country (see Practice Note: Table of advantages and disadvantages of restructuring in various jurisdictions worldwide and News Analysis: Coronavirus (COVID-19)—A nucleus for significant reform), and discrepancies between national frameworks lead to increased costs and uncertainties in assessing the risks of investing in another country (as noted by the European Systemic Risk Board (ESRB); see: LNB News 12/05/2025 17). The Regulation (EU) 2015/848 (OJ L141 5.6.2015 p 19), Recast Regulation on Insolvency [EU Recast Regulation on Insolvency] (which applied to England in

Updated in May 2026 Introduction Australia’s strong economy, skilled and multilingual workforce, competitive tax structure and stable political environment make it an ideal location for foreign investment. The Australian market also enjoys the benefits of relatively low set-up costs, easy access to the Asia-Pacific region, a vibrant financial services sector and a time zone which accesses both the close of business in the United States and trading opening in Europe. Prior to the onset of the global coronavirus (COVID-19) pandemic, Australia was among the fastest-growing economies in the Organisation for Economic Co-operation and Development (OECD). Compared to other OECD countries, Australia navigated the immediate health and economic impacts of COVID-19 well. Like other OECD countries, however, the short-term impacts of domestic and global stimulus during the COVID-19 pandemic years (as well as overseas factors such as the war in Ukraine and domestic factors such as COVID-19 related backlogs in the construction sector) have resulted in more significant inflationary pressures in Australia and a phase of stringent monetary policy tightening by the Reserve Bank of

This Practice Note summarises the relevant rules and guidance on arrears, default and recovery in the Financial Conduct Authority (FCA)’s Consumer Credit sourcebook (CONC). It also outlines separate requirements under the Consumer Credit Act 1974 (CCA 1974) that must be satisfied before a lender can enforce an agreement, including service of notice of sums in arrears (NOSIA) and a default notice. Background Firms carrying on a consumer credit-related activity must comply with Chapter 7 of CONC that contains the relevant rules and guidance on arrears, default and recovery. Broadly, these rules set out the requirements with which firms must comply when collecting debts and managing borrowers in arrears and forbearance, including how they communicate and how they propose to assist borrowers in difficulty. During the coronavirus pandemic the FCA introduced its Tailored Support Guidance (TSG) for Consumer Credit, Mortgages and Overdrafts, clarifying how firms could support customers in financial difficulty, taking account of their individual circumstances. Although developed during a time of crisis, the FCA sought to retain elements of the

The Civil Contingencies Act 2004 The Civil Contingencies Act 2004 (CCA 2004) provides the primary framework for dealing with large-scale emergencies under UK law: • CCA 2004, Part 1 concerns the responsibility of various public bodies and certain private bodies (eg energy suppliers or telecommunications providers) to undertake contingency planning for emergencies • CCA 2004, Part 2 enables a senior government minister to make emergency regulations with the power to amend primary legislation It is important to bear in mind, however, that there are a wide range of other exceptional statutory powers that may be deployed in times of crisis without an emergency first having been declared under CCA 2004, Part 2. For example, primary legislation such as the Coronavirus Act 2020 and section 14 of the Human Rights Act 1998 (HRA 1998) permit a Secretary of State to make a designated derogation from rights under the European Convention on Human Rights (ECHR). Although a derogation under Article 15 of the ECHR may only be made

ARCHIVED: This Practice Note has been archived and is not maintained. For developments, relating to the CRR in the EU and UK post Brexit, including the developments summarised in this Practice Note, see the following Practice Notes: EU CRD IV package—essentials, UK Capital Requirements Regulation (UK CRR)—technical standards [Archived], The EU banking package—CRD V, CRR II, BRRD II and SRMR II [Archived], Introduction to the UK prudential regime for banks, building societies and systemically important investment firmsFLASHCARD—EU CRR III, CRD VI and the ‘daisy chain’ proposal [Archived]. This Quick Look Brexit Financial Services Legislation Status Guide provides high-level information on the status of the Capital Requirements Regulation (EU) 575/2013 (the EU CRR), and Regulation (EU) 2019/876 (EU CRR II) which amends it, under UK law with effect from 1 January 2021. For more detailed information on the effect of Brexit on prudential regulation and the EU CRR, see Practice Note: Impact of Brexit: CRR and prudential regulation—quick guide [Archived]. For high-level information on the status of the coronavirus (COVID)-related

Manufacturers of medicinal products must comply with certain minimum standards in their production processes. These minimum standards are known as good manufacturing practice (GMP). GMP requires that medicines are of consistent high quality, are appropriate for their intended use and meet the requirements of the marketing authorisation (MA) or clinical trial authorisation (CTA). The principles of GMP are applicable to the manufacture of both human medicinal products and veterinary medicinal products, as well as the active substances used in medicinal products and investigational medicinal products (IMPs) (ie medicines used in clinical trials). This Practice Note explores the legislation and guidelines that govern the manufacturing of medicinal products for human use, active substances and IMPs in the EU and in the UK. The coronavirus (COVID-19) pandemic significantly impacted the regulation of the manufacturing of medicinal products which falls outside the scope of this Practice Note. The extraordinary regulatory flexibilities for medicines during the COVID-19 pandemic addressed supply challenges and have now been phased out while lessons from the pandemic have driven proposals for

ARCHIVED: The pilot scheme is set out in Practice Direction 51V (CPR PD 51V) and provides for applications to set aside default judgments, obtained under CPR 12, to take place using a video hearing. This is a separate process from that in use during the coronavirus pandemic which allows for remote hearings. For guidance, see Practice Note: Remote and hybrid hearings in civil proceedings. The pilot scheme applies in the Birmingham or Manchester Civil Justice Centres. The pilot scheme will apply unless a party objects or opts out of the pilot scheme. The 115th Update—Practice Direction amendments sets out the pilot scheme in its schedule. The pilot scheme has been extended and will now run until 31 March 2021 as provided for in the 122nd Update—Practice Direction Amendments. This Practice Notice considers the second video hearings pilot scheme. Note that both the first pilot scheme and this one have the same title and the same practice direction reference. For an explanation as to the requirement for the