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GLOSSARY

Reserved matters definition

Published by a LexisNexis Corporate expert

What does Reserved matters mean?

A list of veto rights negotiated between the joint venture parties and included in the joint venture agreement which require the consent of a simple majority, a special majority, a super majority or unanimous consent of the joint venture parties before any action can be taken.

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Planning performance agreements

Planning performance agreements What is a planning performance agreement? Planning performance agreements (PPA) are optional memorandums of understanding or agreements between an applicant for planning permission, local planning authority (LPA) and in some cases, other interested parties like certain key statutory consultees. PPAs contain commitments as to the timescales, actions and resources to be employed for a specific planning application. They are a project management tool or framework, which set out the process for reaching a decision on a planning application. PPAs are usually entered into before submitting an application and can cover all stages of the planning application process, including the pre-application stage. While they tend to focus on the pre-application and application stages, they can also cover the post-application stage (governing how reserved matters or approvals of details will be handled). PPAs can take the form of a simple memorandum of understanding or exchange of letters, or they can be made under section 111 of the Local Government Act 1972 (LGA 1972) (see Q&A: What...

Flexible financing arrangements in the commercial real estate market

Flexible financing arrangements in the commercial real estate market Flexible loan structures Following the financial crisis, the real estate finance market saw a retreat of conventional bank lending and an influx of non-bank lenders (NBLs) including insurers and real estate debt funds. Through 2012 and 2013, the absence of bank lending enabled these NBLs to strengthen their position and become established players in the market. With the return to confidence in the real estate investment market and bank lending from 2014, some NBLs, in particular real estate debt funds, are moving up the risk curve away from the senior debt space. This has resulted in a competitive market for real estate debt across the capital stack. Banks, insurers and debt funds have different strategies and focus on optimum deal size, asset class and loan purpose. Four commonly used flexible loan structures are: • flexible senior loans • stretched senior loans • mezzanine loans, and • preferred equity loans Flexible senior loans Banks have a strong presence in this area along...

Discover our 6 Practice Notes on Reserved matters

Heads of terms—corporate joint venture

Heads of terms—corporate joint venture Date: [insert date] Subject to contract 1 Introduction 1.1 These heads of terms set out the principal terms and conditions upon, and subject to, which [insert name of first shareholder] (Party A) and [insert name of second shareholder] (Party B) are proposing to enter into a joint venture to [insert purpose of joint venture] (the Proposed Joint Venture). Each of Party A and Party B is a party and together they are the parties. 1.2 The terms in this document are not exhaustive and[, with the exception of paragraphs 7.2, 8, 9, 10, 11 and 12,] are subject to contract and not intended to be legally binding on the parties. Neither party to this document shall be legally bound to proceed with the Proposed Joint Venture unless and until a formal written joint venture agreement is entered into. 2 The joint venture Party A and Party B wish to enter into the Proposed Joint Venture to [insert purpose of joint venture and...

Planning and development overage—permission for additional units obtained or implemented

The ScheduleOverage–ascertainment and payment 1 Definitions In this Schedule the following definitions apply: Additional Residential Unit any Residential Unit on the Property in excess of [insert threshold number of units] and Additional Residential Units shall have a corresponding meaning; Index HM Land Registry’s House Price Index under the ‘[House price index OR Average price OR Property type]’ report type for [insert location specifying region, county and borough as required]; Overage a sum in...

Dive into our 3 Precedents related to Reserved matters

Immigration weekly highlights—1 May 2025

Welcome to the 1 May 2025 highlights from the Immigration team, which provides links to key news stories from the last week, as well as a round-up of new and updated content in Immigration.

House of Commons library briefing on SNP immigration bill

The House of Commons Library has published a briefing on an SNP-backed private members' bill. The Devolution (Immigration) (Scotland) Bill, sponsored by Stephen Gethins MP of the Scottish National Party (SNP), seeks to amend the Scotland Act 1998 to grant the Scottish Parliament legislative competence over immigration matters. Currently, immigration is a reserved matter under the Scotland Act, meaning it is controlled by the UK Parliament. The bill proposes removing immigration-related provisions from the list of reserved matters, effectively transferring responsibility to the Scottish Parliament. The SNP argues for more generous visa rules for Scotland, citing its reliance on migration for population growth. The bill's second reading is scheduled for 25 April 2025.

Read the latest 2 News articles on Reserved matters