Finance and Markets in UK Law

Leading Cases
  • MacNiven v Westmoreland Investments Ltd
    • House of Lords
    • 08 Feb 2001

    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.

  • Ebrahimi v Westbourne Galleries Ltd; Re Westbourne Galleries Ltd
    • House of Lords
    • 03 May 1972

    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.

  • Regal (Hastings) Ltd v Gulliver
    • House of Lords
    • 20 Feb 1942

    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.

  • Foskett v McKeown
    • House of Lords
    • 24 May 2000

    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.

  • Smith New Court Securities Ltd v Scrimgeour Vickers (Asset Management) Ltd and Another
    • House of Lords
    • 21 Nov 1996

    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.

  • Ramsay (W T) Ltd v Commissioners of Inland Revenue
    • House of Lords
    • 12 Mar 1981

    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.

  • Ensign Tankers (Leasing) Ltd v Stokes
    • House of Lords
    • 12 Mar 1992

    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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Legislation
  • Corporate Insolvency and Governance Act 2020
    • UK Non-devolved
    • January 01, 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) ......
  • Enterprise and Regulatory Reform Act 2013
    • UK Non-devolved
    • January 01, 2013
    ...... law; to establish and make provision about the Competition and Markets Authority and to abolish the Competition Commission and the Office of Fair ... authorities: general), under the heading " Industry, business, finance etc . " at the appropriate place insert-. . . "The Competition and ......
  • The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013
    • UK Non-devolved
    • January 01, 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 ......
  • Banking Act 1979
    • UK Non-devolved
    • January 01, 1979
    ......   . ( b . ) any other activity of the business is financed, wholly or. to any material extent, out of the capital of or the. interest ...in the wholesale money markets;. .   . ( b . ) finance in the form of overdraft or loan facilities in ......
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Books & Journal Articles
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Law Firm Commentaries
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