Ashfords' In-House Bulletin - March 2022

This In-House Bulletin provides key legal updates across all practice areas to help ensure in house lawyers, GCs, contract and procurement managers can easily and efficiently keep abreast of what’s happening in the legal world.

Unfair prejudice – what does a petitioner have to show?

If shareholders bring a petition under section 994 of the Companies Act 2006, believing that the company’s affairs are being conducted in a manner that is unfairly prejudicial to their interests, what do they have to prove?

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Heads of Terms - the DNA of a property transaction

Heads of terms (or HOTs) are used as a point of reference throughout a transaction. To avoid delays and misunderstandings, it is critical to make sure you are not agreeing to anything within the HOTs which you do not understand or are unable to deliver on.

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Transfers between connected parties

A recent tax case has highlighted the importance of properly considering and documenting the terms and values of intra-group or other connected party transactions. Often the tax treatment of connected party transactions is based on the market value of the assets or services transferred or provided. The market value is, for various taxes, based on the price that a willing third party purchaser would be prepared to pay. This can be difficult to establish where there is no ‘real’ third party involved.

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Considering menopause as a protected characteristic

The debate surrounding whether menopause should become a protected characteristic has gained more attention in the last couple of years due to investigations into women in the workplace. Particularly, there are issues with employers struggling to retain female talent and females representing a significantly lower percentage of executive roles within the workplace. These investigations have raised questions as to why this is.

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UK data protection regime: updates to consider

Since the start of 2021, the UK data protection regulatory regime has seen substantial changes, in particular for data transfers. The UK has now adopted its own version of the GDPR (known as the ‘UK GDPR’), and is in the process of introducing its own international transfer mechanism (the ‘International Data Transfer Agreement’ or ‘IDTA’) to enable organisations to legitimise data transfers to third countries. The IDTA is due to come into force on the 21 March 2022.

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