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Establishing a share incentive plan (SIP) and granting SIP awards—all-encompassing resource pack

Establishing a share incentive plan (SIP) and granting SIP awards—all-encompassing resource pack For more general information on share incentive plans (SIPs), see Practice Note: What is a share incentive plan? Step Details of step Lexis®PSL resources required to implement step Timing of step 1 Determine whether the company qualifies to operate a SIP. The SIP regime is prescriptive and sets out numerous requirements that must be met at the time the awards are granted, including in relation to the company granting the awards. It is essential to establish whether the company whose shares are being granted under award qualifies to operate a SIP first. The proposed award holder(s) must also meet certain requirements in order to be granted SIP awards. For further detailed information on the SIP eligibility requirements relating to the company, see Practice Note: SIPs—qualifying companies and type of shares. For further detailed information on the SIP eligibility requirements relating to the employee, see Practice Note: SIPs—who can be granted an award? For a checklist...

Drafting checklist for claim or response—unfair dismissal: redundancy

Drafting checklist for claim or response—unfair dismissal: redundancy Both parties • Was the Claimant an employee? See Practice Notes: Entitlement to claim unfair dismissal—Eligibility and Employee status • Did the Claimant have requisite qualifying service, or does an exception apply? See Practice Note: Qualifying period for unfair dismissal • Has the Claimant complied with the requirement for early conciliation or does one of the exemptions apply? See Practice Note: The early conciliation requirement • Is the claim brought within the three-month time limit, or the period as extended if the requirement for early conciliation applies? See Practice Notes: Unfair dismissal time limit and The early conciliation requirement—Extension to time limits (the 'stop the clock' provisions) • Is the contract of employment arguably void for illegality? See Practice Note: Entitlement to claim unfair dismissal—Illegality • Does the Claimant fall within a category of employee excluded from unfair dismissal protection, eg police constables. See Practice Note: Entitlement to claim unfair dismissal—Particular types of employment • Was the Claimant’s work based in Great...

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Does the Procurement Act 2023 apply?—flowchart

Does the Procurement Act 2023 apply?—flowchart This content relates to the Procurement Act 2023 regime As of 24 February 2025, the main provisions of the Procurement Act 2023 (PA 2023) are in force. Procurements begun on or after this date must be carried out under PA 2023 (where applicable), whereas those begun under the previous legislation (the Public Contracts Regulations 2015, SI 2015/102, the Utilities Contracts Regulations 2016, SI 2016/274, the Concession Contracts Regulations 2016, SI 2016/273, and the Defence and Security Public Contracts Regulations 2011, SI 2011/1848) must continue to be procured and managed under that legislation. See Practice Note: Introduction to

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Disclosure—solicitors' obligations

Disclosure—solicitors' obligations This Practice Note identifies solicitors’ obligations in relation to disclosure to their client and the court. It also explains the need to preserve documents, provide the required disclosure and co-operate with the other side particularly in relation to electronic disclosure (e-disclosure). This Practice Note does not cover the provisions of the disclosure scheme operating in the Business and Property Courts. For guidance, see: Disclosure scheme—overview. Obligations Throughout the disclosure process you have obligations to your client, to the court and in accordance with other relevant provisions. These include, but are not limited to: • advising your client of the need to preserve documents—see further: Preservation of documents • ensuring your client complies with all relevant and applicable provisions and makes compliant disclosure—see further: Full disclosure • co-operating with the other side, specifically in relation to e-disclosure and/or where the claim is proceeding on the multi-track and does not involve a claim for personal injury—see further: Co-operating with the other side • a reasonable duty to manage...

Bridge to bond facilities

Bridge to bond facilities What are they? A bridge to bond facility is a type of acquisition financing where the buyer requires the certainty of a fully committed financing package, but which is intended to be replaced in the future with a mid- to long-term financing in the form of high yield bonds. In markets where acquisitions typically do not have a financing condition, a bridge financing package (which is available to be drawn if necessary) is often a key component to a successful bid. This Practice Note focuses on bridge to high yield bond financing. However, investment-grade borrowers also commonly use bridge facilities for acquisitions. Bridge commitments for investment-grade borrowers differ in many ways, including: lower pricing, much less restrictive covenants (the terms often follow the borrower’s existing credit facilities) and the securities demand mechanic may not be included (or if included, it may only be triggered by ratings downgrade). Bridge commitments for investment grade borrowers may also have longer maturities (or extension rights exercisable by...

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Claim against a driver for a collision caused by misleading signals

Claim against a driver for a collision caused by misleading signals IN THE COUNTY COURT AT [insert] Claim No: Parties 1 A B Claimant and 2 X Y Defendant _____________________________________________________________________________ PARTICULARS OF CLAIM _____________________________________________________________________________ 1 At all material times, the Claimant was the owner and driver of a [insert make and model of vehicle] registration number [insert registration number]. The Defendant was the owner and driver of a [insert make and model of vehicle] registration number [insert registration number]. 2 On [insert date], the Claimant was lawfully waiting at the intersection of [insert street name] and [insert street name, town, county]. The Claimant was stationary and preparing to turn left. As she waited, the Defendant’s vehicle approached from the Claimant’s right. The Defendant’s vehicle slowed and signalled to turn left into the Claimant’s street. In reliance on the Defendant’s signal, the Claimant commenced her left turn. The Defendant failed to turn left and proceeded across the junction, colliding with the Claimant’s vehicle. 3 The accident was caused...

Letter of intent—construction—employer friendly

Letter of intent—construction—employer friendly From: [insert name of Employer (the ‘Employer’)] To: [insert name of Contractor (the ‘Contractor’)] Date: [insert date] Dear [insert name of Contractor] [insert full project name and/or description/location of the works] (the ‘Works’) 1 We refer to your tender ([insert reference]) dated [insert date] and to [insert details of subsequent correspondence and any other specific documents containing details of the Works]. 2 We are pleased to inform you that, subject to terms being agreed between us, it is our intention to accept your offer (contained in the documents referred to in paragraph 1 above) and enter into a contract with you for the carrying out of the Works. 3 It is intended that the form of contract will be based on the [insert form of proposed contract], as amended by a schedule of amendments and annexures as attached to this letter (together the ‘Contract’). The Contract will also incorporate the following documents: [insert proposed Contract Documents] (the ‘Contract Documents’) The following items are not...

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When can a local authority procure a different supplier to carry out works if the current provider hasn’t performed all aspects of the contract?

When can a local authority procure a different supplier to carry out works if the current provider hasn’t performed all aspects of the contract? Article 73 of Directive 2014/24/EU (the Public Contracts Directive) is implemented into English law by the Public Contracts Regulations 2015 (PCR 2015), SI 2015/102. Article 73 of the Public Contracts Directive and PCR 2015, SI 2015/102, reg 73 provide for the situations in which a public contract may be terminated. Strictly, breach of the contract by the contractor is not one of the situations in which the contract can be terminated but it follows from ordinary principles of contract law, which are for national law, that a breach of contract may allow the innocent party to repudiate and therefore terminate the contract In that situation,

Under what circumstances could a contracting authority negotiate or amend the terms of a contract tendered using the restricted procedure? What are the potential consequences of doing so?

Under what circumstances could a contracting authority negotiate or amend the terms of a contract tendered using the restricted procedure? What are the potential consequences of doing so? In answering this Q&A we have considered whether, prior to concluding a public contract tendered under the restricted procedure, the contract terms advertised can be negotiated with the preferred bidder and subsequently amended—and what might happen if this was to take place. We have also limited our research to procurement under the Public Contracts Regulations 2015 (PCR 2015), SI 2015/102. What happens if during the tender period one or more bidders asks for the contract terms to change? It is not uncommon, during the tender period, for a bidder to ask for a term in the draft contract to be amended. Where this happens the contracting authority must give careful consideration to whether the proposed amendment can be accepted or not. Reasons why an amendment might be required include a genuine mistake on the part of the contracting...

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Employment weekly highlights—8 May 2025

This edition of Employment weekly highlights includes: (1) an EAT decision under the pre-IP completion day Brussels Regulation on the employment tribunal’s jurisdiction to hear claims brought by a British citizen employed by a company domiciled in Georgia, USA under an employment contract governed by the law of that State, (2) the launch by the Low Pay Commission (LPC) of a consultation on 2026 national minimum wage (NMW) and national living wage (NLW) rates, (3) an update to the HMRC Check Employment Status for Tax (CEST) tool, (4) a Court of Appeal decision to strike out whistleblowing detriment claims against external HR consultants, (5) confirmation from the Court of Appeal that, in the context of an indirect age discrimination claim relating to changes made by a parent company to the rules of a long term incentive plan (LTIP), the parent company was not the agent of the subsidiary employer, (6) a High Court decision that the alleged vicarious liability of a transferor employer does not transfer under TUPE, (7) the...

Property weekly highlights—8 May 2025

This week's edition of Property weekly highlights includes: a Supreme Court decision on the qualifying period for adverse possession, cases on adverse possession and death, consideration for interim access under the Telecoms Code, overriding interests, discharge of obsolete restrictive covenants and service charges for substandard work, plus an update on Law Commission recommendations.