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The term 'loss' appears in many statutes and is not generally restricted to permanent deprivation.
For example, under s 34 of the Theft Act 1968, while 'loss' extends only to loss in money or other property it also extends to any such loss which is merely temporary and includes a loss by not getting what one might get as well as parting with what one has. 'Loss' is similarly defined by s 5 of the Fraud Act 2006.
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MVNO agreement鈥攃hecklist This Checklist covers some of the main provisions to be included in a mobile virtual network operator (MVNO) agreement under which a mobile network operator supplier will provide wholesale access services to an MVNO for resale to its own retail customers. It covers some of the main provisions that are specific to an agreement of this kind. See also the Precedent: MVNO agreement. In this Checklist, the following definitions are used: 鈥 Agreement鈥攎eans the MVNO agreement between the MVNO and the Supplier for the provision of the Services 鈥 End-User鈥攎eans a customer of the MVNO 鈥 IPR鈥攎eans intellectual property rights 鈥 MVNO鈥攎eans mobile virtual network operator, the customer in the Agreement 鈥 Services鈥攎eans the wholesale network services being provided to the MVNO by the Supplier 鈥 Supplier鈥攎eans the mobile network operator providing network services to the MVNO The third column can be used to record observations or comments as the Checklist is worked through. Checklist Further information Notes (if any) General terms and conditions 鈽 Consider duration....
Sentencing Guidelines for Corporate offenders鈥擬oney laundering checklist This Checklist summarises the Sentencing Council鈥檚 guidelines for money laundering offences committed by a corporate (Money Laundering Guidelines). The Money Laundering Guidelines can be accessed here: 鈥 Magistrates鈥 Court Sentencing Guideline鈥擟orporate offenders: fraud, bribery and money laundering鈥攆or use in cases involving corporates being sentenced in the magistrates鈥 court 鈥 Crown Court Sentencing Guideline鈥擟orporate offenders: fraud, bribery and money laundering鈥攆or use in cases involving corporates being sentenced in the Crown Court The Sentencing Council also publishes a number of overarching guidelines, which should be considered in respect of all sentencing exercises. These include: 鈥 Totality guideline (Crown Court) 鈥 Totality guideline (magistrates鈥 court) 鈥 General guideline鈥攐verarching principles (Crown Court) 鈥 General guideline鈥攐verarching principles (magistrates鈥 court) 鈥 Reduction in sentence for a guilty plea (Crown Court) 鈥 Reduction in sentence for a guilty plea (magistrates鈥 court) For more information, see Practice Note: Sentences imposed following conviction. Among these overarching guidelines, the General guideline: overarching principles (the General guideline) is specifically designed...
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Offence of failure to deliver up property to, or concealing property from official receiver or trusteeA bankrupt commits an offence if they: 鈥ail to deliver up any property to the official receiver or trustee which they are required by law to deliver up and which is in their possession or under their control. The official receiver or trustee may direct the bankrupt to give possession of only part of their property in which case only that part is relevant for the purposes of the offence鈥onceal any debt due to or from them or conceals any property which they are required to deliver up to the official receiver or trustee the value of which is not less than the prescribed amount鈥onceal debts or property valued at not less than the prescribed amount during the 12 months preceding the presentation of the petition or between the presentation of the petition and the commencement of the bankruptcyThe offence under section 354 is triable either in the magistrates' court or the Crown Court.Offence of...
Money Laundering Regulations 2017鈥擟DD quick reference guide鈥攊ndividuals Client due diligence (CDD) is a central pillar of the anti-money laundering (AML) and counter-terrorist financing (CTF) regime. CDD requirements underpin the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, as amended. Counter-proliferation financing is the most recent addition to the long-established AML and CTF regime. Requirements in relation to counter-proliferation financing were introduced through amendments to the MLR 2017 and include in relation to systems and controls, risk assessment, etc. No specific counter-proliferation financing requirements were added in relation to CDD, and existing CDD provisions in the MLR 2017 were not amended to include mention of proliferation financing. As things stand, therefore, counter-proliferation financing is not covered in this Practice Note. For more information, see Practice Note: Counter-proliferation financing鈥擟PF鈥攖he basics. Where the MLR 2017 apply (see Practice Notes: Money Laundering Regulations 2017鈥攕cope and application鈥攍aw firms), conducting CDD is an absolute requirement. It is not in itself subject to the risk-based approach....
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Insert the following definitions as new definitions into clause 1 of Precedent: Share purchase agreement鈥攑ro-buyer鈥攃orporate seller鈥攃onditional鈥攍ong form: 1 Definitions and interpretation Claim means a claim by the Buyer for any breach of the provisions of this Agreement (including a claim for breach of the Warranties); Data Room means the data room relating to the [Company OR Group] comprising all contracts, agreements, licences, documents and other information made available to the Buyer and its advisers, as listed in the Data Room index attached to the Disclosure Letter; The ScheduleLimitations on the Warranties ...
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What is motor vehicle or road traffic accident insurance? In the UK, motor insurance is a mandatory insurance policy for any vehicle owner or driver unless the vehicle is declared as off the road. There are heavy penalties, both civil and criminal, for uninsured drivers (who are caught). The mandatory insurance regime is intended to protect the general public (including pedestrians and other non-vehicle users) against personal injury and damage caused in a road traffic accident. Types of motor insurance policies The motor insurance market is split into three main types of insurance: third-party only; third-party fire and theft; and comprehensive policies: 鈥 third-party only policies provide the minimum level of cover required by the law, namely the Road Traffic Act 1988 (RTA 1988). RTA 1988 mandates that motor insurance must at the very least cover the risk of death, personal injury or property damage to third parties caused by the insured vehicle 鈥 third-party fire and theft provides third-party cover as described above but in addition...
If administrators of a policyholder did not notify insurers of a claim against the policyholder within the 28-day time limit stated in the policy, can insurers reject cover? It is assumed that the claim would otherwise trigger cover under the insurance policy and that it is a liability insurance policy. Under a liability insurance policy, a notification clause is framed as a condition precedent to indemnity under the policy, to allow insurers to investigate the claim at an early stage. In the absence of a clause allowing for extended reporting of claims notifications, an insurer can rely on a breach of a condition precedent to deny liability, regardless of whether insurers have suffered any prejudice. See Practice Note: Liability insurance鈥攏otification of claims and circumstances and defence of claims. It should be noted that the purpose of section 11 of the Insurance Act 2015 relates to terms that define the risk as a whole, and it is to prevent insurers from relying on a breach unconnected to the...
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Law360, London: Marsh Ltd has failed in its application to strike out a global chemicals group's claim that the insurance broker negligently arranged faulty motor insurance cover after a London appeals court said on 30 January 2025 that the allegations need more clarity.
The European Commission has adopted a Delegated Regulation amending the regulatory technical standards (RTS) laid down in Delegated Regulation (EU) 2022/2059, Delegated Regulation (EU) 2022/2060 and Delegated Regulation (EU) 2023/1577 as regards the technical details of back-testing and profit and loss attribution requirements, the criteria for assessing the modellability of risk factors, and the treatment of foreign-exchange risk and commodity risk in the non-trading book under Regulation (EU) 575/2013 (CRR).
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