Section 205A of the Employment Rights Act 1996 (ERA 1996), which sets out the requirements which must be met in order for an employee shareholder agreement to be validly entered into, specifies that the employee shareholder must acquire newly issued shares. The government's guidance on employee shareholder status, which was issued by the Department of Business Innovation and Skills (BIS), also reflects this requirement, as does the guidance issued by HMRC in relation to the tax reliefs associated with employee shareholder shares. It is also understood that HMRC will accept that this

The CMA is tasked with enforcing the Supply of Extended Warranties on Domestic Electrical Goods Order 2005, SI 2005/37. The CMA has the authority to issue directions to ensure compliance, including specifying steps that must be taken or actions that must be refrained from. Extended warranties can be contracts of insurance if they cover unforeseen events or provide more extensive coverage than the usual obligations of the seller or manufacturer. This was established in the case of Digital Satellite Warranty Cover Ltd v Financial Services Authority, Re, where the Supreme Court determined that extended warranty agreements for electrical equipment fell within the definition of general insurance contracts as per the Financial

Anti-embarrassment clauses are seen in the context of a share sale or business or asset sale, ie a transaction carried out either under a share purchase agreement (SPA) or an asset purchase agreement (APA). These clauses typically provide that the seller will receive an additional payment (additional consideration) under the SPA or APA for the shares or assets it (the seller) sells to the buyer under such SPA or APA, if the buyer resells such sale shares or assets (or an exit event such as a listing of the target company’s shares occurs) within a certain period of time after completion of the original sale (relevant period). For an example of this type of provision for inclusion in an SPA, see Precedent: Anti-embarrassment clause-share purchase agreement and its accompanying Drafting Notes. An anti-embarrassment clause is not

For standard family members, who were resident in the UK before the specified date (11pm on 31 December 2020) the requirements for eligibility for settled status are found in the Immigration Rules, Appendix EU, para EU 11, condition 3, which provides that a family member of a relevant EEA citizen must have completed a ‘continuous qualifying period’ of five years in any (or in any combination of) the following categories: family member of a relevant EEA citizen, family member who has retained the right of residence, person with a derivative right to reside, person with a Zambrano right to reside, or a person who had a derivative or Zambrano right

Private nuisance Private nuisance normally involves interference with the claimant’s enjoyment of their land, usually by noise, smell or by the causing of actual physical damage to their property. In such cases the claimant can bring a civil claim seeking an injunction and/or damages and/or abatement, as appropriate. See Practice note: Neighbour disputes—noise and nuisance. In Bone v Seale a pig-farmer was held liable for ‘constant malodorous air which frequently caused nausea’. Where the defendant has not caused the nuisance, but merely permitted it to continue, then proof of negligence is required. Liability only arises where the defendant failed to take reasonable steps to abate the nuisance once it knew or ought

It is not possible to convert fully-paid shares into a new class of shares with a higher nominal value than the old class, on the basis that they are only partly-paid, except perhaps as part of a reduction of capital under Chapter 10 of Part 17 of the Companies Act 2006 (CA 2006) or a scheme of arrangement approved by the court (Scheme) under CA 2006, Pt 26. It is assumed for the purpose of this Q&A that, other than the change in nominal value, on such a conversion all the other rights attaching to the relevant class of share would remain the same. A reduction of capital is governed by CA 2006, ss 641–657. CA 2006, s 641 which provides that, in the case of a private company limited by shares, a reduction may be effected by a special resolution supported by a solvency statement given by the directors

A further education corporation validly established under the Further and Higher Education Act 1992 (FHEA 1992) is an exempt charity for the purposes of Schedule 3 to the Charities Act 2011 (FHEA 1992, s 22A). See Commentary: Charitable status of a further education corporation: Halsbury’s Laws of England [654]. This means that it does not fall within the regulatory control of the charity Commission, rather, it falls within the control of its primary regulator to ensure compliance with Charity Law. In the case

Parental responsibility is defined as all the rights, duties, powers, responsibility and authority that, by law, a parent has in relation to their child and their child's property (section 3(1) of the Children Act 1989 (ChA 1989)). Where the child’s parents were married to each other at the time of the child's birth, they each have parental responsibility for the child. Where the parents were not married to each other at the time of the birth, the mother automatically has parental responsibility and the father does not: there is, however provision for the father to acquire it. A mother’s civil partner may also have parental responsibility for a child at birth if certain conditions are met. There are provisions

The grant ad colligenda bona is a usual tool for the estate practitioner. The purpose of the grant is to protect and ‘preserve’ the estate until a full grant can be taken out. In the case of a dispute as to the validity of the will or the appointment of the Personal Representatives (PRs), a caveat is often put in place to prevent the issue of a formal grant of probate. The caveat will often remain in place for a considerable period of time while the parties engage in pre-action protocols and alternative dispute resolution. The freezing

Part II of the Landlord and Tenant Act 1954 (LTA 1954) provides for statutory security of tenure for qualifying business leases which are not contracted out of its provisions. As a result, a tenancy does not expire by effluxion of time and continues—both the landlord and the tenant have the right to apply to the court for the grant of a new lease; and the landlord can oppose the grant of a new lease on one of the specified grounds in LTA 1954, s 30(1). LTA 1954, s 30(1)(g) provides that a landlord may oppose the grant of a new tenancy if on the termination of the current tenancy the landlord intends to occupy the holding for the purposes, or partly for the purposes, of a business

With the exception of the grant of a lease, an acquisition of a chargeable interest by a bare trustee is treated as an acquisition by the beneficiary (paragraph 3 of Schedule 16 to the Finance Act 2003 (FA 2003)). Since company A is a bare trustee for company B, the legal title of the interest (rather than the beneficial title) is to be transferred from company A to company B. Although FA 2003, s 53 is likely to apply, the market value of the legal title to

In order to claim stamp duty land tax (SDLT) group relief, the vendor and the purchaser must, at the effective date of the land transaction, be: • bodies corporate, and • members of the same group for SDLT purposes Broadly, an SDLT group is made up of a parent