Day: November 28, 2018

Posted on

The Environmental Assessments and Miscellaneous Planning (Amendment) (EU Exit) Regulations 2018

These Regulations are made in exercise of the powers in section 8(1) of the European Union (Withdrawal) Act 2018 (c. 16) in order to address failures of retained EU law to operate effectively and other deficiencies arising from the withdrawal of the United Kingdom from the European Union. Apart from regulations 2(3) and 5(3)(a), these Regulations are made under section 8 of that Act and correct deficiencies of the type mentioned in section 8(2)(a) and (g) of that Act – matters which have no practical application to the United Kingdom or are otherwise redundant, and EU references which are no longer appropriate.

Link: The Environmental Assessments and Miscellaneous Planning (Amendment) (EU Exit) Regulations 2018
Source: Legislation .gov.uk

Posted on

The Banks and Building Societies (Priorities on Insolvency) Order 2018

This Order implements the obligations in Directive (EU) 2017/2399 of the European Parliament and of the Council amending Directive 2014/59/EU as regards the ranking of unsecured debt instruments in insolvency hierarchy (the Directive). The Directive provides for a new class of non-preferred senior debt to be issued by credit institutions, investment firms and others. In insolvency proceedings, debts in this class are to rank below ordinary unsecured debts but above own funds investments and subordinated liabilities that do not qualify as own funds instruments.

Link: The Banks and Building Societies (Priorities on Insolvency) Order 2018
Source: Legislation .gov.uk