Ahead of the recent election it was no secret that the Conservatives wanted to see a cut in taxpayer support for the development of wind farms. What did come as a surprise was the recent announcement by the Westminster Department of Energy and Climate Change (DECC) that the main form of subsidy for wind farms would suddenly be closed in March 2016.
BelfastRecent legislative changes mean that with effect from January 2016 every UK private and public company (subject to certain exemptions in the case of public limited companies) will be required to maintain a register of persons having significant control of the company (a PSC register). Whilst not currently the case, it is expected that the requirement to create and maintain a PSC register will be
BelfastThe European Commission (EC) has launched a public consultation on the issue of corporate tax transparency in the EU. The objective of the consultation is to establish whether requiring companies to disclose more information about the taxes they pay could highlight and help tackle tax avoidance and aggressive tax practices within the EU. One of the proposed initiatives is that companies could be r
TaxA recent High Court decision, where the reinstatement of an employee was ordered after five years out of the business, should ring alarm bells for employers who are considering imposing a "holding suspension" on employees. Tread carefully, check your facts and seek advice are the learning points from the latest judicial guidance on this tricky issue.
Pensions & IncentivesIn Hennigan v Roadstone Wood Ltd [2015] IEHC 326, the High Court awarded a Plaintiff damages for breach of contract and misrepresentation despite the fact that the contract was not recorded in writing. The case illustrates the importance of producing strong corroborative evidence in proving the existence of an oral agreement.
DisputesAn issue of key concern to the shipping community is whether EU law prevails over international treaty law (in particular, treaties in the maritime sector).
EU, Competition & ProcurementOn the Domestic Front: The Companies Act 2014 comes into effect. Irish Stock Exchange (ISE) launched its new online application process for International Security Identification Numbers (ISINs). Minister for State, Simon Harris, promotes Ireland's FinTech sector.
FinanceOn the Domestic Front: Director of Market Supervision, Gareth Murphy, addresses the Irish Funds Annual Conference. The Central Bank publish a document for Fund Management Company Boards and a revised AIF Rulebook. And the Central Bank's Q&As for AIFMD and UCITS are updated
FinanceOn the Domestic Front: Central Bank issues letter to industry following themed inspection of Client Categorisation for Investment Firms. On the International Front: European Supervisory Authorities (ESAs) consult on margin requirements for non-centrally cleared derivatives. European Securities and Markets Authority (ESMA) issues its Q1 risk dashboard for securities markets.
FinanceOn the Domestic Front: Central Bank identifies weaknesses in lenders’ compliance with the Code of Conduct on Mortgage Arrears. The IBRC Commission of Investigation's Terms of Reference are revised. Regulations providing for credit institutions' maintenance of accounts are introduced.
FinanceOn the Domestic Front: New Regulations regarding insurers' financial statements are introduced. Central Bank publishes its findings from a themed review of the retail intermediary sector and its presentation to the Society of Actuaries' Solvency II Forum.
FinanceA recent determination from the Employment Appeals Tribunal provides a useful reminder of an employer's obligations when managing employees who are absent on sick leave.
Pensions & Incentives
