Publication
Horizon Scanning: Investigations and Enforcement
In this horizon scan, we focus on key developments affecting companies operating in the UK, including in light of the recent change in UK government.
Global | Publication | August 21, 2015
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
In December, 2014 the Department for Business, Innovation & Skills (BIS) published and requested responses to “Nullification of Ban on Invoice Assignment Clauses”, a consultation paper and draft regulations proposing to nullify contractual clauses prohibiting the assignment of receivables (the right to payment of an amount under a contract). The Small Business, Employment and Enterprise Act 2015 includes a power to nullify bans on assignment and the aim of the measure is to make it easier for businesses to access invoice finance. For some businesses, and particularly for small businesses, the only assets against which they can borrow will be invoices for payment due to them. However, a supplier’s commercial customers are currently able to contractually bar this kind of invoice assignment. On August 9, 2015, BIS published its response to the consultation paper, having taken into account all the feedback they received.
Having considered the views received, the Government has concluded that the nullification of a ban on invoice assignment clauses should:
BIS aims to begin the Parliamentary process after the summer break in order to commence these proposals as soon as possible.
On August 20, 2015 Companies House published an updated schedule of implementation of the Small Business, Enterprise and Employment Act 2015 which received Royal Assent in March 2015. Changes to the implementation schedule may occur as the associated secondary legislation passes through Parliament, but the latest schedule is as follows:
October 2015:
December 2015:
January 2016:
April 2016:
October 2016:
(Companies House, The Small Business, Enterprise and Employment Act is here, 20.08.15)
Publication
In this horizon scan, we focus on key developments affecting companies operating in the UK, including in light of the recent change in UK government.
Publication
As you begin planning for the upcoming financial year, it is likely that legal operations projects are on your radar. However, securing the necessary budget can be challenging. Our roundtable on October 1, ‘Preparing for FY2025 - Building a compelling business case’, will help you create compelling business cases for your legal initiatives.
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This briefing is an updated version of our briefing first published in December 2017 and sets out some practical pointers for employers who wish to make changes to a pension scheme which may fall within the statutory definition of a “listed change”.
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