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CLC guidance on the use of face coverings in construction

The Construction Leadership Council (CLC) has published its latest guidance, The Use of Face Coverings in Construction during Coronavirus (COVID-19). The key points to note: That while the use of face coverings is mandatory for a number of public places, the government's guidance on construction and other outdoor work does not require face coverings for COVID! Unless there are suspected cased of COVID. Normal PPE is to be used where required but this is not as an extra for COVID. In the guidance, there is an explanation of face coverings…

Shareholders’ Agreement: why should your company have one?

Although there is no legal requirement to have a Shareholders’ Agreement (‘SHA’), shareholders are often advised to have an agreement when starting a company with more than one shareholder. An SHA is an agreement between all or some of a company’s shareholders defining the parties’ rights and duties and how they will reach certain decisions. The following are some of the important reasons why your company should have an SHA in place: Privacy When a company is incorporated, the Articles of Association of the company are filed at Companies House,…

Corporate insolvency: the proposed new rules

On the 20th of May the House of Commons carried out the first reading of the new proposed Corporate Insolvency and Governance Bill, which is set to bring substantial changes to the current rules. Of course, the below is not yet law, however, it provides a good indication in the direction in which things are heading. A second reading is scheduled for the first week of June 2020. The aim of the bill is to provide more debtor-friendly provisions that will assist in rescuing struggling companies. These include: •             New…

Company responsibilities during the Covid-19 pandemic

The UK Government has put in place substantial measures to help mitigate the devastating effect of Coronavirus (Covid-19) on the economy. During this lockdown period, and economic downturn, company directors are trying to comply with the government’s measures, as well as satisfying their own obligations to the company. Directors are concerned about fulfilling their responsibilities, acting with reasonable care, and in the best interests of the company, as required by the Companies Act 2006. However, during these unprecedented times, the directors’ decision mechanism is usually dependent on two vital questions:…

What is a Notary and why are they important when conducting Overseas Contracts

It is quite common that when a document is required overseas and as part of an international transaction, people come across words such as “notarisation”, “legalisation” and “apostille”. Below is a summary of the importance of Notaries. Notaries play an important role in overseas documents and international transactions as many documents, including the gravity of power of attorneys and some deeds, will require the witness signs in the presence of a notary public. The Notary will often verify the signature of the signing party and also their capacity to sign…

It’s all in the planning when it comes to selling privately-owned companies

For the shareholding directors of many privately-owned companies, the end-game is focused on selling up before moving on to new ventures or sometimes retirement. But many owners under-estimate the time involved in making a business market-ready, or do not seek advice on the different options before they start, nor the route-map to follow to secure a successful sale. Ideally, an advisory team should be put together, involving a lawyer and an accountant specialising in company transactions, to guide the company on the preparation for sale, before any moves are made…

Interview with Mohammed Akram of our Corporate department

Interview with Mohammed Akram of our Corporate department Q: How long have you worked at Bowling & Co? A: Since May 2017.  Q: What do you find interesting about the Corporate work you do? A: No two days are the same and each client is different, requiring a personal touch unique to the client's needs, irrespective of whether or not the transaction is similar to the one previously completed. There is no substitute for that warm feeling at the end of a deal knowing that you have pleased a client…

Security

In nearly all matters where money is being borrowed or lent, security over assets will be required. Security gives the lender the comfort that, in the event the borrower cannot repay the loan, the security can be enforced and the lender can recover the outstanding loan. The most well known example of such security is probably where a residential property is purchased using a bank loan, and as security the bank is granted a mortgage of the purchased property. In business, it is common for entities such as limited companies…

Safeguarding design is a priority for small business

Cheaper registration fees are an opportunity for small businesses and designers to secure greater protection for their intellectual property in future, as well as being a route to protection in the UK post-Brexit. A registered design is one of the options available from the Intellectual Property Office, alongside trade marking, patenting and copyright. It protects the visual appearance of a product including the shape, texture, materials, colour and pattern and gives the right to prevent others from using the design for up to 25 years through a renewal process every five years. …

Crowd-funding property investments: open to anyone with a spare £10

Successive political, cultural and financial developments over recent years have led to the emergence of a generation of people for whom property ownership is a distant dream. For some, property ownership is not appealing in itself. For others, the chance of saving a meaningful deposit is so remote that the prospect isn't even entertained. Even successful Landlords with vast and profitable property portfolios are losing interest in the sector, as taxation and regulatory disincentives dampen the mood (is the age of the amateur landlord over?). The good news is that…

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