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Business Impact Target
The Small Business, Enterprise and Employment Act 2015, also referred to as SBEE, received Royal Assent in March 2015. Its contents include regulatory reform (part 2), public sector procurement (part 3) and company director disqualification issues (part 9). Provisions Business impact target Part 2 contained provision for the government to publish a "business impact target", which is Statutory guidance on this duty was published in January 2019. The relevant legislative provisions, namely section 21 to 27 of the 2015 Act were repealed and the business impact target itself was abolished by the Retained EU Law (Revocation and Reform) Act 2023. Public sector procurement Part 3 concerns powers to make further regulations regarding public sector procurement, including processes for entering into contracts and contract management (section 39) and investigations into procurement functions (section 40). One of the particular objectives underlying potential regulations would be to ensure ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Assent
Royal assent is the method by which a monarch formally approves an act of the legislature, either directly or through an official acting on the monarch's behalf. In some jurisdictions, royal assent is equivalent to promulgation, while in others that is a separate step. Under a modern constitutional monarchy, royal assent is considered little more than a formality. Even in nations such as the United Kingdom, Norway, the Netherlands, Liechtenstein and Monaco which still, in theory, permit their monarch to withhold assent to laws, the monarch almost never does so, except in a dire political emergency or on advice of government. While the power to veto by withholding royal assent was once exercised often by European monarchs, such an occurrence has been very rare since the eighteenth century. Royal assent is typically associated with elaborate ceremony. In the United Kingdom the Sovereign may appear personally in the House of Lords or may appoint Lords Commissioners, who anno ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Invitation To Tender
An invitation to tender (ITT, also known as a call for bids or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been previously assessed for suitability by means of a supplier questionnaire (SQ) or pre-qualification questionnaire (PQQ). Unlike a request for proposal (RFP), which is used when a company sources for business proposals, ITTs are used when a government or company does not require the submission of an original business proposal and is looking solely to award a contract based on the best tender submitted. As a result, whereas ITTs are often decided based on the best price offered, decisions on RFPs may also involve other considerations such as technology and innovation. Both are forms of reverse auction. At the same time, variants may be requested in an ITT, whic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tied Pubs (Scotland) Act 2021
The Tied Pubs (Scotland) Act 2021 (asp 17) is an act of the Scottish Parliament which seeks to re-balance the relationship between the landlords of tied pubs and their tenants. History At stage 1, the Economy and Fair Work Committee commended the intent behind the bill, but did not agree that legislation is required, and did not support the general principles of the bill. The report did describe that the establishment of a statutory code, an independent adjudicator and a market only rent option were welcome and overdue measures for a minority of committee members. In 2023, senior judge has passed an interim order preventing the Scottish government from introducing regulations under the Act. The Act was ruled to be within the legislative competence of the Scottish Parliament. The first Scottish Pubs Code Adjudicator, Sarah Havlin was appointed in April 2024 for a period of three years. Provisions The Act requires the Scottish Government to publish a Scottish Pubs Code and to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Invoice
An invoice, bill, tab, or bill of costs is a commercial document that includes an itemized list of goods or services furnished by a seller to a buyer relating to a sale transaction, that usually specifies the price and terms of sale, quantities, and agreed-upon prices and terms of sale for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice. These may specify that the buyer has a maximum number of days to pay and is sometimes offered a discount if paid before the due date. The buyer could have already paid for the products or services listed on the invoice. To avoid confusion and consequent unnecessary communications from buyer to seller, some sellers clearly state in large and capital letters on an invoice whether it has already been paid. From a seller's point of view, an invoice is a ''sales invoice''. From a buyer's point of view, an invoice is a ''purchase invoice''. The document indicates the buyer and seller, but ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency
In accounting, insolvency is the state of being unable to pay the debts, by a person or company ( debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A company ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Company Directors Disqualification Act 1986
The Company Directors Disqualification Act 1986 (c. 46) forms part of UK company law and sets out the procedures for company directors to be disqualified in certain cases of misconduct. History Lord Millett, in the opinion he gave in , summarized the history of disqualification orders in British company law, noting that they were originally created under s. 75 of the '' Companies Act 1928'' (subsequently consolidated as s. 275 of the '' Companies Act 1929''), which was enacted on the recommendation of the ''Report of the Company Law Amendment Committee'' (1925-1926) under the chairmanship of Mr Wilfred Greene KC (Cmd 2657). It gave the official receiver, the liquidator or any creditor or contributary the ability to apply to the court having jurisdiction to wind up the company, for an order to disqualify a director from being concerned in the management of a company for a period up to five years. Such order was up to the discretion of the court. The scope of that provision was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Small Business
Small businesses are types of corporations, partnerships, or sole proprietorships which have a small number of employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy. The qualifications vary depending on the country and industry. Small businesses range from fifteen employees under the Australian ''Fair Work Australia, Fair Work Act 2009'', fifty employees according to the definition used by the European Union, and fewer than five hundred employees to qualify for many U.S. Small Business Administration programs. While small businesses can be classified according to other methods, such as annual revenues, shipments, sales, assets, annual gross, net revenue, net profits, the number of employees is one of the most widely used measures. Small businesses in many countries include service or retail operations such as convenience sto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Framework Agreement
In the context of negotiations, a framework agreement is an agreement between two parties that recognizes that the parties have not come to a final agreement on all matters relevant to the relationship between them, but have come to agreement on enough matters to move forward with the relationship, with further details to be agreed to in the future. In the context of procurement, a framework agreement is an agreement between one or more businesses or organisations, "the purpose of which is to establish the terms governing contracts to be awarded during a given period, in particular with regard to price and, where appropriate, the quantity envisaged". International framework agreements In international law, such an agreement between countries or groups can acknowledge that they cannot reach full agreement on all issues, but are willing to memorialize a structure by which some disagreements can be resolved.Shabtai Rosenne, “The Framework Agreement as the Basis for the Jurisdiction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Specification (technical Standard)
A specification often refers to a set of documented requirements to be satisfied by a material, design, product, or service. A specification is often a type of technical standard. There are different types of technical or engineering specifications (specs), and the term is used differently in different technical contexts. They often refer to particular documents, and/or particular information within them. The word ''specification'' is broadly defined as "to state explicitly or in detail" or "to be specific". A requirement specification is a documented requirement, or set of documented requirements, to be satisfied by a given material, design, product, service, etc. It is a common early part of engineering design and product development processes in many fields. A functional specification is a kind of requirement specification, and may show functional block diagrams. A design or product specification describes the features of the ''solutions'' for the Requirement Specificatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Reform
Regulatory reform concerns improvements to the quality of government regulation. At the international level, the "OECD Regulatory Reform Programme is aimed at helping governments improve regulatory quality - that is, reforming regulations that raise unnecessary obstacles to competition, innovation and growth, while ensuring that regulations efficiently serve important social objectives". Examples Indonesia The OECD produced a report in September 2012 reviewing Indonesia's regulatory reform programme, focusing on Indonesia's administrative and institutional arrangements for ensuring that regulations are effective and efficient. Luxembourg Luxembourg's government established a committee, the ''Comité National pour la Simplification Administrative en faveur des Entreprises'' (CNSAE), to improve business regulation by the various government departments, aiming also to improve public perception of the government's administrative simplification programme. The European Commission has n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cabinet Office
The Cabinet Office is a Departments of the Government of the United Kingdom, ministerial department of the Government of the United Kingdom. It is responsible for supporting the Prime Minister of the United Kingdom, prime minister and Cabinet of the United Kingdom, Cabinet. It is composed of various units that support United Kingdom cabinet committee, Cabinet committees and coordinate the delivery of government objectives via other departments. it had over 10,200 staff, mostly civil servants, some of whom work in Whitehall. Staff working in the British Prime Minister's Office, Prime Minister's Office are part of the Cabinet Office. Responsibilities The Cabinet Office's core functions are: * Supporting collective government, helping to ensure the effective development, coordination, and implementation of policy; * Supporting the National Security Council and the Joint Intelligence Organisation, coordinating the government's response to crises, and managing the UK's cyber securi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Procurement Act 2023
The Procurement Act 2023 (c. 54) is an act of the Parliament of the United Kingdom. The act seeks to overhaul public procurement law in the United Kingdom by simplifying processes and giving a greater share of public sector supply opportunities to small businesses. It is one of the most radical reforms affecting businesses since Brexit: the UK Government sees it as "throwing complicated and bureaucratic EU rules into the bin ndstripping back red tape". The government held a consultation in 2023 on how to implement the act's provisions including by supplementary provision by regulations. Parliamentary passage The bill for the act was introduced to the House of Lords by Baroness Neville-Rolfe on 11 May 2022 and had its third reading in the House of Commons, after being introduced by Jeremy Quin, on 13 June 2023. The act was significantly amended when travelling through Parliament and there was a stand-off with both Houses during the wash-up period leading up to the 2023 pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
