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Employment Bulletin - October 2023 Topics covered in this bulletin: Supreme Court: gaps of more than three months did not break series of unlawful deductions of holiday pay New right to request a predictable work pattern Payment received by employee shortly after merger was taxable in... Lower bar for merger scrutiny? First below-threshold deal cleared with conditions in China In September, details emerged of a transaction in the Chinese pharmaceutical sector, whereby a below-threshold acquisition underwent an extensive review process involving the Chinese competition authority’s “stop-the-clock” powers. The review resulted in ... British Tax Review - Finance (No.2) Act 2023 Notes: Section 10 and Schedule 1: relief for research and development Section 10 of and Schedule 1 to the Finance (No.2) Act 2023 make four key changes to the UK’s tax relief regimes for research and development, the research and development expenditure credit which generally applies to “large” companies a... British Tax Review - Finance Act 2023: Section 4: amount of relief for expenditure on research and development Section 4 of the Finance Act 2023 makes various changes to the rates of relief in respect of the UK’s tax relief regimes for research and development, the research and development expenditure credit which generally applies to “large” com... The EU Green Bond Standard: a welcome leap forward for sustainable finance? Following a lengthy period of negotiation between the co-legislators, the long-awaited EU green bond standard (the “EU GBS”) has been approved by the European Parliament and is set to be published shortly. First put forward as part of the European green d... EFIG: European Banking Newsletter – October 2023 Developments in this month's edition include: Climate-related litigation risks – ECB publishes speech EBA launches 2023 EU-wide transparency exercise MREL reforms – ECON publishes draft report Resolvability heat map – SRB publi... Architecture of a Global Plastics Treaty: Deconstructing the Zero Draft The Global Plastics Treaty negotiations aim to confront escalating challenges caused by transboundary plastic pollution. While existing international legal instruments target specific elements of the problem, the proposed treaty offers a unique opportunit... Competition & Regulatory Newsletter: Sustainability issues in merger review The treatment of sustainability issues in merger review is an increasingly hot topic. This interest is reflected in the September edition of the Competition Merger Brief, which notes that sustainability considerations are an increasingly relevant and impo... Hong Kong Spin-Off Listings: Key Considerations This publication highlights the key considerations for businesses contemplating a Hong Kong spin-off listing. Introduction This publication highlights the key considerations for businesses contemplating a Hong Kong spin-off listing. Spin-off listing re... Carve-outs: maximising value   Carve-outs have become ever more popular in recent years, as market players seek different ways to raise or return cash, maximise shareholder / fundholder value, optimise a company’s operations or change the strategic direction of a group. While t...