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Nothing could be more unsatisfactory. The Law Commission should look to amend the law. Lord Mustill agreed with Lord Browne-Wilkinson completely. [1] The bizarre outcome results from the application of an ancient and technical rule of law which requires the maximum duration of a term of years to be ascertainable from the outset.
Tax Law, Advance corporation tax, Limitation Act 1980: The Limitation Act 1980 applies to claims for restitution of monies paid under a mistake of law. The six-year period allowed under the Limitation Act applies from the date on which the claimant has discovered the mistake (or could have reasonably discovered it) rather than the date on which ...
Law Commission projects cover a wide range of subjects that belong to the criminal law, property law, family and trust law, public law, commercial law. The Law Commission has a rolling programme of law reform projects, and every three years or so it consults on any new projects that should be added to the list of those that it already has under ...
Tax Law: Littlewoods were not entitled on common law grounds to receive compound interest from HMRC on overpaid VAT. The terms of the Value Added Tax Act 1994 exclude common law restitution claims and compound interest and these provisions were not contrary to EU law. [2] Michalak v General Medical Council [2017] UKSC 71: 1 November
An Act to make provision for repeals (including a repeal to give effect to a recommendation of the Law Commission and the Scottish Law Commission), consequential amendments, transitional and transitory matters and savings in connection with the consolidation of enactments in the Road Traffic Act 1988 [aa] and the Road Traffic Offenders Act 1988 ...
The Company Law Review [10] decided that it would not update the unfair prejudice provisions for the Companies Act 2006. It had examined various proposals that the Law Commission had made, [11] but was unenthusiastic. A salient feature of the action is the sheer volume of cases brought, often with long complicated histories, as shareholders dig ...
UK law on merger control follows European Union law. The competence to deal with issues that only affect the UK market falls under the OFT and Competition Commission's jurisdiction. These two institutions are influential players in the development of European merger law. The term under EC law for merger is "concentration", which exists when a...
UK law always required that some nominal value be set, because it was thought that a lower limit of some kind should be in place for how much shares could be sold, even though this very figure was chosen by the company itself. [67] Every share, therefore, is still required to have a nominal value and shares cannot be sold at a price lower. [68]