Business support organisations

Yes. The Land Registry published a new service update on 14 May, here:

https://www.gov.uk/guidance/coronavirus-covid-19-impact-on-hm-land-registrys-service

Importantly, the Land Registry will process registrations where documents have been executed using the Mercury signing approach:

For land registration purposes, a signature page will need to be signed in pen and witnessed in person (not by a video call). The signature will then need to be captured, with a scanner or a camera, to produce a PDF, JPEG or other suitable copy of the signed signature page. Each party sends a single email to their conveyancer to which is attached the final agreed copy of the document and the copy of the signed signature page.

To summarise some further points:

• Most information enquiries are experiencing minimal delays
• Registrations of new titles, such as on sales of part or new leases, and applications to update existing titles, are experiencing more significant delays but can be expedited via the expedite service
• Cancellation dates for replying to requisitions are extended until further notice
• Access to free documents on the land registry portal has been extended to 90 days from completion of the transaction
• Identity requirements have been relaxed. The Land Registry will now raise a requisition for identity documents, and not cancel applications
• Requests for extensions to a notice or objection period will be granted if lawfully possible
• Land charges searches can be submitted electronically with PDF documents

• Working with PFI providers to get contingency plans up to date

• If a PFI provider is struggling to achieve service delivery requirements due to Covid-19, then local arrangements should be put in place to:
  • maintain unitary charge payments
  • revise contract requirements/standards

moderating payment and performance regimes where appropriate.

• In any event, you may wish to review and adjust your requirements to reflect the current situation. It is possible that some requirements can be relaxed, whereas others need to be tightened. For example, there may be an increased need for cleaning and maintenance in certain areas of your PFI premises or the layout of the premises and/or room uses may have temporarily changed. With staff illness and shortage likely to be an issue, you may also wish to consider if the resource can be moved from one area to another to help maintain essential services.
• When putting local bespoke arrangements into place it is vital that:
  •  Contract requirements or performance standards are not relaxed to the point where health and safety are put at risk.
  • It is made clear that the arrangements are temporary and that matters will return to normal as soon as the Covid-19 emergency is over. Indeed the guidance note makes clear that if assets temporarily close they should be kept in such condition that they can be immediately up and running when this emergency is over. In such instances, likely a basic level of maintenance and security will therefore be required as a minimum.

The Flexible Furlough Scheme, ‘FFS’ an unfortunate acronym, allows employees to work for some of the week and be furloughed for the rest.

The FCA’s test case in the Supreme Court ruled overwhelmingly in favour of policyholders.  However, business interruption cover generally has the prerequisite of physical damage or loss to the property (or in some circumstances, the presence of a notifiable disease at the property or within a certain radius of it), to recover losses caused by the interruption to your business. The onus is on insurers to re-assess those claims which are impacted by the Supreme Court’s judgment and to make contact with the policyholders regarding next steps. If you have not already made a claim, in the first instance the terms of any policy should be checked carefully to see whether business interruption cover is provided.

At 10am on the 21st July, we hosted the fourth of our “in conversation…” webinars, this time featuring the ninth largest private bank in the world, Swiss-based Julius Baer. Ward Hadaway partner Emma Digby once again lead the conversation, this time with Luke Downes and Darren Hirst from their investment and relationship teams on “Market outlooks – the before, during and after”. They were joined by Andrew Evans from our private client team to feed in his perspective. This will be of interest to individuals who are thinking about investment portfolios and pension pots, but also businesses keen to see how investors are viewing their sectors, markets and customers.

Luke and Darren took us through how the markets looked pre-Covid, how they responded to the pandemic, and obviously most importantly what we might expect going forwards. They took a look at the sectors that are seeing the quickest bounce-back, discuss which countries are likely to be the most attractive for investors, and where the long term financial gains are expected to be. They also touched on that imminent event, shrouded in mist recently but no less significant – Brexit! What is the expected effect on the markets, and who are likely to be the winners and the losers?