Cases to look out for in 2008
OFT v Abbey National & Ors (bank charges litigation) - High Court decided on 24th April 2008 that overdraft charges fall under the Unfair Terms in Consumer Contract Regulations; legislation making penalty charges unlawful. Office of Fair Trading can now decide if the charges are fair and force banks to change. Banks have until 22nd May 2008 to decide whether to appeal. They are likely to appeal thus delaying any claims for the return of overdraft charges.
Orange & Ors v Ofcom & BT (calls to mobile litigation) - will decide whether or not consumers have been overcharged for telephone calls.
Companies Act Changes
Further sections of the Companies Act 2006 are to be implemented in April 2008; part of a radical overhaul of company law initiated by this Act. The final changes will be implemented some time in 2009.
Current changes include - Company Secretaries will be optional for private companies
- Changes to Company Accounts' filing dates
It may be a useful time to review your company's constitution (its Memorandum and Articles of Association); it is not uncommon to see 40 or 50 year old documents.
Contact Grahame Jackson on 0191 383 0111 for a "Company Health Check".
Home Information Packs
From 31st December 2008, a Home Information Pack must be available when marketing a property starts. At present a property can be marketed if the pack has been commissioned. TMJ Legal Services LLP can usually prepare a pack in less than a week.
Marketing with an incomplete Pack may take place if documents have been requested and it is expected they will become available within 28 days of the start of marketing. This exemption only covers the following documents:
i) Searches
ii) Leasehold and Commonhold information
iii) Evidence of Title (for unregistered properties only)