We have set out below some guiding principles which we hope will assist: • under the Land Registration Act 2002, s 27 (LRA 2002), the legal title passes upon registration. The period of time between the title passing to another trustee (who will be a beneficial owner pending registration), and that title being registered is known as the 'registration gap'. It is arguable that, using the reasoning in the Court of Appeal case of Brown and Root Technology Ltd v Sun Alliance and London Assurance Company Ltd, until the

On the face of it you would expect a dispute resolution clause that called for the dispute to be referred to the China International Economic and Trade Arbitration Commission (CIETAC) Shanghai sub-commission would be straightforward (as usually references to arbitral bodies such as the International Chamber of Commerce (ICC) and London Court of International Arbitration (LCIA) are). However, clauses that provide for CIETAC arbitration are not so straightforward. Background Following the revisions to the CIETAC arbitration rules in 2012, CIETAC's Shanghai and South China sub-commissions declared themselves independent of CIETAC. CIETAC suspended authorisation to the sub-commissions to accept and administer cases under the CIETAC Rules—see Practice Note: CIETAC—former sub-commissions [Archived]. The former CIETAC Shanghai sub-commission subsequently renamed itself the Shanghai International Arbitration Centre (SHIAC), a move denounced by CIETAC. CIETAC suspended SHIAC's authorisation to administer CIETAC cases though SHIAC denied that CIETAC's statement was binding and continued to accept cases which provided for CIETAC Shanghai. In January 2013

The local authority should maintain a definitive map showing the public rights of way in their area, covering footpaths, bridleways, restricted byways and byways open to all traffic. It is assumed that the underpass in this scenario is a public right of way and therefore likely to come within the jurisdiction of the Highways Act 1980 (HiA 1980). The highway authority (generally the local authority) will need to ascertain whether the underpass is situated on private land, who the owner of that private land is, and whether there are any specific provisions relating to that owner’s obligations concerning the right of way. If the underpass does not fall within private land, then

A person cannot be forced to act as an executor (subject to them not having intermeddled in the estate) or administrator. Renunciation is the act whereby a person entitled to be executor (or administrator) gives up their right to act as such. Renunciation is usually permanent and can only be retracted with the leave of the court (see: Non-Contentious Probate Rules 1987, SI 1987/2024, r 37). An executor who has renounced probate may still obtain a grant of letters of administration with Will annexed in some other capacity unless that right is also expressly renounced. They would also need to separately renounce trusteeship if they are appointed as trustee in the testator’s Will, unless the terms of the Will make it clear that their trusteeship is dependent on them proving

Whole agreement clauses are usually part of the boilerplate terms in an agreement. Their aim is to prevent the parties from making claims against the other party for representations (and misrepresentations) made before a contract is executed. They can act as an exclusion clause and are more commonly known as entire agreement clauses.

This Practice Note: • explains what a whole business securitisation is—a whole business securitisation may also be referred to as an operating asset securitisation • outlines the key tax considerations that arise on a whole business securitisation due to the fact that the companies involved in the securitisation form part of a wider corporate group, including that: ◦ it is standard for the wider corporate group to give a tax deed of covenant (a tax covenant) in favour of the securitisation group ◦ generally, the companies involved in the securitisation should not form part of a VAT group with members that are not part of the securitisation group (see further below), and • suggests how tax-effective hedging can be achieved in cases where the issuer fails to qualify as a note-issuing company for the securitisation regime For a guide on what to include in a tax opinion on a whole business securitisation, see Practice Note: Whole business securitisations—the UK tax opinion. For the tax considerations relevant to an asset-backed securitisation, see Practice Notes: • Asset-backed

This Practice Note outlines what is normally covered in a UK tax opinion given by the tax lawyers acting for the UK tax resident securitisation companies involved in a whole business securitisation (also known as an operating asset securitisation). A special corporation tax regime applies to companies that: • qualify as securitisation companies, and • satisfy two additional conditions: ◦ the unallowable purposes test, and ◦ the payments condition This tax regime is set out in the Taxation of Securitisation Companies Regulations 2006, SI 2006/3296 (Securitisation Tax Regs), and is referred to in the HMRC Manuals as the permanent securitisation regime. This regime is explained in Practice Note: Asset-backed securitisations—the UK tax treatment by reference to an asset-backed securitisation structure, but can also apply to a whole business securitisation structure, provided all the relevant conditions are satisfied. In a whole business securitisation, the companies involved in the securitisation often form part of a wider corporate group which includes members that are not involved in the securitisation. This gives rise to tax

Whole life insurance is a form of long‑term life assurance under which the insurer is contractually obliged to pay a lump sum on the death of the life assured, whenever that occurs, provided premiums are maintained (or a fully paid‑up status is reached). Unlike term insurance, cover is not limited to a fixed period and typically includes a savings or investment element affecting surrender value and premium levels.The term is primarily a descriptive one used in insurance practice, policy documentation and financial regulation, rather than being exhaustively defined in statute. Regulatory treatment and consumer protection requirements derive mainly from financial services legislation and rules (for example, the UK Financial Services and Markets Act regime and FCA rules; and equivalent Central Bank of Ireland frameworks), rather than specific “whole life” legislation.Key legal issues for advisers include insurable interest at inception, non‑disclosure and misrepresentation, policy assignment and trust planning, inheritance tax or capital acquisitions tax consequences, and treatment on divorce, bankruptcy or death. Usage and core legal characteristics are broadly consistent across England and Wales, Scotland, Northern Ireland and Ireland, although tax treatment, regulation and succession rules differ between jurisdictions and must be checked in each case.

A receivables purchase agreement under which all of the client's receivables, present and future, are assigned to the receivables purchaser on the commencement date.

Wholly internal situation is a phrase used to describe the situations which do not involve any factor that links the case to EU law, and therefore remains within the scope of the national law concerned.

See fully insured scheme.

A company is said to be a 'wholly-owned subsidiary' of another company if it has no members except that other company and that other company's wholly-owned subsidiaries or persons acting on behalf of that other or its wholly-owned subsidiaries.