Finance and Markets in UK Law
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MacNiven v Westmoreland Investments Ltd
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The paramount question always is one of interpretation of the particular statutory provision and its application to the facts of the case. The need to consider a document or transaction in its proper context, and the need to adopt a purposive approach when construing taxation legislation, are principles of general application. Where this leads depends upon the particular set of facts and the particular statute.
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Ebrahimi v Westbourne Galleries Ltd; Re Westbourne Galleries Ltd
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The words are a recognition of the fact that a limited company is more than a mere judicial entity, with a personality in law of its own: that there is room in company law for recognition of the fact that behind it, or amongst it, there are individuals, with rights, expectations and obligations inter se which are not necessarily submerged in the company structure.
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Regal (Hastings) Ltd v Gulliver
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The rule of equity which insists on those who by use of a fiduciary position make a profit, being liable to account for that profit, in no way depends on fraud, or absence of bona fides; or upon such questions or considerations as whether the profit would or should otherwise have gone to the Plaintiff, or whether the profiteer was under a duty to obtain the source of the profit for the Plaintiff, or whether he took a risk, or acted as he did for the benefit of the Plaintiff, or whether the Plaintiff has in fact been damaged or benefited by his action.
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Foskett v McKeown
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It is merely the process by which a claimant demonstrates what has happened to his property, identifies its proceeds and the persons who have handled or received them, and justifies his claim that the proceeds can properly be regarded as representing his property. It identifies the traceable proceeds of the claimant's property. It enables the claimant to substitute the traceable proceeds for the original asset as the subject matter of his claim.
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Smith New Court Securities Ltd v Scrimgeour Vickers (Asset Management) Ltd and Another
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But in cases where property has been acquired in reliance on a fraudulent misrepresentation there are likely to be many cases where the general rule has to be departed from in order to give adequate compensation for the wrong done to the plaintiff, in particular where the fraud continues to influence the conduct of the plaintiff after the transaction is complete or where the result of the transaction induced by fraud is to lock the plaintiff into continuing to hold the asset acquired. But in cases where property has been acquired in reliance on a fraudulent misrepresentation there are likely to be many cases where the general rule has to be departed from in order to give adequate compensation for the wrong done to the plaintiff, in particular where the fraud continues to influence the conduct of the plaintiff after the transaction is complete or where the result of the transaction induced by fraud is to lock the plaintiff into continuing to hold the asset acquired.
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Ramsay (W T) Ltd v Commissioners of Inland Revenue
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It is the task of the court to ascertain the legal nature of any transaction to which it is sought to attach a tax or a tax consequence and if that emerges from a series or combination of transactions, intended to operate as such, it is that series or combination which may be regarded.
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Ensign Tankers (Leasing) Ltd v Stokes
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In Overseas Containers (Finance) Ltd. v. Stoker [1989] 1 W.L.R. 606 a parent company, anticipating losses on capital account in respect of loans repayable in German currency formed the taxpayer company as a finance company which took over the loans, sustained the losses and claimed to deduct the loans for the purposes of corporation tax.
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Financial Services Act 2012
...... to amend the Bank of England Act 1998, the Financial Services and Markets Act 2000 and the Banking Act 2009; to make other provision about financial ... SCH-18.79 . . . 79 . (1) The Finance Act 1994 is amended as follows. . (2) In Schedule 7 (insurance premium ......
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The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013
......8 . Consequential amendments PART 8 . Consequential amendments . S-20 . Amendments to the Finance Act 1991 Amendments to the Finance Act 1991 . 20. —(1) The Finance Act 1991 62 is amended as follows. . (2) In section 116 (investment exchanges ......
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Corporate Insolvency and Governance Act 2020
...... (b) (b) section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section. ... (ii) an alternative finance investment bond within the meaning of article 77A of that Order; . (d) ......
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The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018
......finance products, emission allowances or derivatives are able to interact in the system in a way that results in a contract; S-15A . . 15A “UK organised ......
- Book Review: Philip G. Cerny (ed.), Finance and World Politics: Markets, Regimes and States in the Post-hegemonic Era (Aldershot: Edward Elgar, Studies in International Political Economy Series, 1993. 234 pp., £39.95 hbk.)
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Where are Islamic finance indices pointing towards?. Lessons from experimental ‘pockets’ of Islamic financial regulation on international stock markets
Purpose: This paper aims to survey the screening practices and regulatory arrangements that can be gleaned from the experience of Islamic financial indices on international stock markets. Such indi...
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Predicted property investment returns: risk and growth models
Purpose: The purpose of this paper is to discuss the principal measures of performance used in property and other investment types. In particular, the briefing will explore the relationship of the ......... models is akin to the Fisher and Gordon growth models used inother finance markets.Practical implications –This comparison of the models can work ......
- Will markets ever be normal again?
- How ESG Is Impacting The European Leveraged Finance Markets
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The FCA's final ban on right of first refusal/right to act provisions: will it affect corporate lending and acquisition finance markets?
On 27 June, the UK Financial Conduct Authority (FCA) published a policy statement setting out the final form of its proposed ban on right of first refusal and right to act provisions relating to th...
- The Meaning Of 'Insurance Business' Within The Finance Services And Markets Act 2000
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UK becomes first non-Islamic country to issue sovereign sukuk
The Government has confirmed that the UK has become the first country outside the Islamic world to issue sovereign sukuk, which is the Islamic equivalent of a bond. According to HM Treasury, £200 m........., have been sold to investors based in the UK and other Islamic finance markets around the world. The profit rate on the sukuk has been set at ......
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Chapter CFM44190
......Sukuk that are issued to raise finance in capital markets will, in most cases, be economically equivalent to ......
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Chapter DT19752
...... enterprise substantially deriving its profits by raising debt finance in the financial markets or by taking deposits at interest and using those ......
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Chapter INTM484090
...... comparability requirements, companies will have differing margins, finance costs, volume, markets, attitude to risk-taking and so on. Gathering ......
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Chapter INTM503030
...... are a factor when groups reorganise or centralise functions and finance is no exception. The general guidance on tax planning structures is worth ... location of functions close to financial markets. greater economies of scale. increased bargaining power. recognition ......