Top 10 Corporate/Company Law Headlines from UK The Finance Act 2009 introduced new rules regarding the taxation of foreign profits with the aim of maintaining the UK's competitive position in the global economy. In this article we consider the impact of these changes for investment trust companies and authorised investment funds. Two recent decisions, one delivered by the Privy Council and the other by the Court of Appeal, have re-examined the circumstances in which the courts will find implied terms in contracts. The presence or absence of terms such as 'without prejudice' on correspondence does not necessarily determine whether it will be protected. In a recent decision, the High Court has provided useful insight into the types of obligations an "all reasonable endeavours" clause will impose on a distributor, and a practical guide to the steps a distributor is likely to be required to take to fulfil the requirements of such a clause. The recent case of “Attorney General of Belize and others v Belize Telecom Ltd and another” has provided new guidance regarding the court's position in dealing with implied terms and interpreting a company's Articles of Association. After a three year implementation programme, the final phase of the 2006 Act came into force on 1 October 2009. Most of the trading disclosure requirements for UK companies under the Companies Act 2006 (the "2006 Act") came into force last year, on 1 October 2008- but for limited liability partnerships ("LLPs"), overseas companies, partnerships and sole traders, the requirements in the Companies Act 1985, or regulations made under that Act, continued to govern. In the recent cases of R v Rollins and R v McInerney, the Court of Appeal has upheld the FSA’s power to prosecute offences beyond those expressly set out in the Financial Services and Markets Act 2000 (the "Act"), including money laundering offences under the Proceeds of Crime Act 2002 ("POCA"). Following the final implementation phase of the Companies Act 2006 (the “Act”) on 1st October 2009, company directors may now choose to prevent their residential address being placed on the public register. In a well publicised shift of emphasis in the investigation and prosecution of serious fraud and corruption the Director of the UK's Serious Fraud Office ("SFO"), Richard Alderman, is trying to encourage companies to engage with his organisation and self-report past wrongdoings. | 
