
Publication
Blue Bonds: Making a splash in the Capital Markets
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
United Kingdom | Publication | July 2023
The Retained EU Law (Revocation and Reform) Act 2023 makes provision for major changes to the content and operation of retained EU law and to rules of priority and interpretation. These changes will leave the meaning of some UK law (including Acts of Parliament) uncertain until resolved by the courts under the new rules.
Royal Assent was received on June 29, 2023, and while much of the Act is now in force, many of the changes will not take place until the end of 2023. The “sunset” provision in the original Bill has been removed, under which certain EU-derived legislation would have been automatically revoked at the end of 2023 unless explicitly saved. While no pensions law is due to be revoked in this first wave, the Government intends to continue to review the remaining EU-derived law to identify further opportunities for reform.
However, the Act does remove the compulsion for Government departments to implement EU case law that was decided before December 30, 2020. This means that many EU pensions decisions will be revoked unless Government specifically makes “restating” regulations to retain them before the end of 2023.
Several EU decisions affect the levels of PPF compensation available, although in a recent House of Lords debate, the Government said that it intended to retain the Hampshire judgment which provides that members should not receive less than 50 per cent of their accrued pension.
If restating regulations are not made in respect of the Walker (equalisation of same-sex survivor benefits accrued prior to 2005) and Allonby (GMP equalisation) and Barber (retirement age equalisation) considerable uncertainty will arise.
Publication
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
Publication
We are delighted to be participating in Marine Money Week New York 2025. As one of the landmark events for the global shipping finance community, and with the global shipping and maritime industry at such a pivotal juncture, we look forward to catching up with clients and contacts to continue discussions around navigating the current challenges and opportunities.
Publication
On 8 May 2025, the Court of Justice of the European Union (the CJEU) delivered its ruling in case C-581/23 (the Ruling), providing guidance on one of the conditions for an exclusive distribution agreement to benefit from the block exemption under Article 4(b)(i) of the 2010 Vertical Block Exemption Regulation (the VBER)1, notably the so-called ‘parallel imposition requirement’.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2025