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WHS Law Briefing
Welcome to our WHS Law Briefing. This briefing identifies key issues and emerging trends in WHS Law, and details significant legislative and case law developments from February to date in July 2025.
Bank of England reports on effects of market shocks on schemes
United Kingdom | Publication | December 2024
The Pensions Regulator has published a press release welcoming the conclusions of the Bank of England that pension schemes are now more resilient to extreme market movements.
The Bank’s “system wide exploratory scenario exercise” aimed to examine how the UK financial system would respond to a market shock. It was the first such exercise to include non-bank financial institutions, such as pension schemes.
The report found that the Regulator's April 2023 guidance on liability-driven investment had been effective, and recommended that it should stay in place "to support effective functioning of the gilt market".
The report also noted that authorities, including the Regulator, will be taking steps to understand and reduce risks in sterling and corporate bond markets. The Regulator will explore potential improvements to existing data collection to provide insight around intended aggregate asset sales. It is also planning to better understand the discretionary behaviour of pension schemes under stressed market conditions and whether the functioning of key sources of liquidity can be improved.
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Essential Corporate News – Weeks ending 25 July and 1 August 2025
.On 25 July 2025 the FCA published Primary Market Bulletin 57 (PMB 57) in which it finalises certain changes to the Knowledge Base, consults on further amendments, and highlights upcoming changes to the National Storage Mechanism and certain UK MAR notification forms.
Publication
Security of Payment Act trumps deemed service provisions
In Roberts Co (NSW) Pty Ltd v Sharvain Facades Pty Ltd (Administrators Appointed) [2025] NSWCA 161, the NSW Court of Appeal has found that, for the purposes of the Building and Construction Industry Security of Payment Act 1999 (NSW) (SoP Act), a deeming clause providing that a notice given after 5pm is to be treated as having been given and received at 9am on the next business day, does not extend the statutory time period for service of a payment schedule.
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