Manchester

Labour’s landslide victory marks the end of 14 years of Conservative rule and heralds a new era. But once the champagne corks have stopped popping at Labour HQ, the new Government needs to roll up its sleeves fast and steer a stagflation economy onto a path of dynamic growth. Is it time for developers to be optimistic?

Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss: Listing Rules reform The FCA has provided an update on timings for publishing final rules during the election period. IoD consultation on Director Code of Conduct The Institute of Directors has initiated a consultation on a proposed new voluntary Code of Conduct for Directors. Appointing directors, amending articles by conduct and refusing to register share transfers This recent case has points to note concerning the appointment of directors, amending articles of association by conduct and losing the power to refuse to register a share transfer. W&I policies: check the exclusions very carefully This recent case highlights the need to check W&I policy terms – particularly the exclusions - very carefully.

This Insight summarises the Planning aspirations of the Conservative, Labour and the Liberal Democrat manifestos for the UK’s 2024 election. Their shared focus is on housing, energy infrastructure and battling climate change. The Conservatives remain committed to the Green Belt and maximising brownfield and densification. Labour proposes new towns and increased use of compulsory purchase, with release of ‘grey’ belt. The Lib Dems focus on more localised strategies. Labour and the Conservatives both propose increases in offshore wind, nuclear and carbon capture, use and storage. Both resist fracking. Labour proposes new Government energy investment institutions. The Conservatives remain wary of onshore wind. The Lib Dems support nature-based solutions to the energy crisis given the imperative to tackle global warming.

Following last week's insight, "Labour's manifesto and employment law - what can employers expect?", we focus this week on the specific issue of removing qualifying periods and increasing statutory time limits.

Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss: Primary Market Bulletin 49 The FCA has released the latest PMB discussing LTIPs, GDRs, annual reports, ethnicity reporting categories and ISSB standards. New draft Regulations and Registrar rules on identify verification Draft Regulations and Registrar rules have been published outlining the procedures and requirements for identity verification. Panel Bulletin No.7 (Bidder Intention Statements) Panel Bulletin No.7 discusses the Takeover Panel’s expectations regarding statements of intentions Revised Practice Statement 31 The Takeover Panel has published revised Practice Statement 31 setting out new guidance on private sale processes. UK Sustainability Reporting Standards and Sustainability Disclosure Requirements update The government publishes its framework and terms of reference for developing UK Sustainability Reporting Standards, alongside an update on implementing a Sustainability Disclosure Requirements regime in the UK. Simpler corporate reporting The government announces proposals to reduce the reporting burden on medium-sized companies. Using reasonable endeavours does not require a party to accept non-contractual performance The Supreme Court has held that, where a party has to use reasonable endeavours to overcome a force majeure event, that does not require it to accept performance of the contract on different terms. Court of Appeal upholds notice of claim – and gives buyers a boost The Court of Appeal has saved a buyer’s notice of claim, providing useful guidance on notice of claim clauses and commenting that they should not become a “technical minefield”.   Duomatic (unanimous consent) principle required the consent of the beneficial owner This High Court case held that, on the facts, the consent of the beneficial owner was required for the Duomatic principle to apply.