Corporate Sustainability Reporting Directive
01 January 2024
For non-EU companies, the requirement to provide a sustainability report applies to all companies generating a net turnover of €150 million in the EU and which have at least one qualifying EU subsidiary or a branch with EUR40million of turnover in the EU. These companies must provide a report on their ESG impacts, risks and opportunities in accordance with the European Sustainability Reporting Standards. The first reporting requirements start from 1 January 2024 for companies already subject to the non-financial reporting directive, but most non-EU companies will have until 2028/29 to comply.
17 January 2024
Final day for responding to the Government's consultation on legislating to retrospectively cap ground rent on existing residential leases. For more discussion, read our briefing on leasehold reform here.
Biodiversity net gain
January 2024
New planning permissions in England will be subject to a pre-commencement condition requiring a 'biodiversity gain plan' for the permitted development. Read more here.
CMA's report on housebuilding
27 February 2024
The Competition and Markets Authority ("CMA") launched a market study into housebuilding in England, Scotland and Wales in February 2023. We discussed its interim report here, which identified land-banking and the management of housing estates by private managers as amongst its key concerns. It is due to publish its market study report by the end of February.
LIBOR
April 2024
The Financial Conduct Authority has announced that the 3-month synthetic sterling LIBOR setting (which is the last remaining tenor) will cease at end-March 2024. This means that there will be no sterling LIBOR rate quoted after this date. Companies should have already worked with their lenders to remove any remaining LIBOR-related exposures in their loans. Our commentary on consequences for other commercial contracts which reference LIBOR (for instance in late payment clauses) is available here.
Renters (Reform) Bill
Spring 2024
The Renters (Reform) Bill will deliver on the government's commitment to "bring in a better deal for renters", including abolishing 'no fault' evictions and reforming landlord possession grounds. More details are here.
Landlord and Tenant Act 1954
Spring 2024
The Law Commission is conducting a wide review of Part 2 of the Landlord and Tenant Act 1954 with a view to modernising commercial leasehold legislation. It hopes to publish a consultation paper as soon as possible in 2024.
Biodiversity net gain
April 2024
Small sites are expected to come within the biodiversity net gain regime. These are defined as those relating to areas below a 'de minimis' threshold of 25 metres squared, or 5m for linear habitats such as hedgerows.
Senior living
May 2024
The Older People's Housing Taskforce has been commissioned to look at the options for housing older people, with the goal of exploring how more choice, quality and security could be provided for seniors housing. It is expected to produce its report by May 2024.
Sustainability Disclosure Requirements
May 2024
The Financial Conduct Authority's new SDR regime will be phased in for asset managers between May and October. Read more discussion in our briefing on the Sustainable Finance Disclosure Regulation and the UK Sustainable Disclosure Regulations.
Local plans
Autumn 2024
The Government has consulted on changes to the plan-making system, which were intended to be introduced in Autumn 2024. One of the main aims is to improve the way that local plans are made, with the goal that each local plan will consist of a single document with a specific purpose, and that they will be made within 30 months.
Building Safety Levy
Introduction of the Building Safety Levy
National Planning Policy Framework
The Government carried out a consultation into some proposed reforms to the National Planning Policy Framework from December 2022 to March 2023. It is expected to report back in 2024.
Collateral warranties
Permission to appeal granted in Abbey Healthcare (Mill Hill) Ltd (Respondent) v. Simply Construct (UK) LLP (Appellant) – [2022] EWCA Civ 823 permission to appeal granted 21 Dec 2022 – no hearing date given so far.
Collateral warranties could, depending on their precise wording, be construed as construction contracts within the Housing Grants, Construction and Regeneration Act 1996 Pt II s.104(1) so that adjudication applied to disputes under the warranty. A collateral warranty in favour of the tenant of a care home which had been signed four years after completion of the construction works and which warranted that the contractor "has performed and will continue to perform diligently its obligations under the contract" was retrospective in effect and was construed as a construction contract under s.104(1).
Nuisance
Davies (Respondent) v Bridgend County Borough Council (Appellant) UKSC 2023/0028 Neutral Citation No. [2023] EWCA Civ 80, Permission to appeal granted 23 May 2023
No actionable nuisance was caused by knotweed on a defendant's land simply because it diminished the value of neighbouring land, even if the knotweed was close to the boundary and at risk of invading the neighbour's land: such a claim would be for pure economic loss. However, if the value of the neighbouring property was diminished as a result of an interference with quiet enjoyment or amenity, due to physical encroachment of knotweed from the defendant's land onto the claimant's land, damages for diminution in value of the property would be available.
Second staircase in residential developments of over 18 metres in height
The new building regulations rules regarding second staircases in higher risk residential buildings are expected to be published in 2024. There will then be a 30 month transition period. For already approved applications, developers will be given 18 months to implement their existing planning consents.
New planning rules
The Levelling Up and Regeneration Act 2023 was given royal assent in 2023 but many parts of it will not be brought into force until 2024.
Charities law
The Charities Act 2022 came into force in 2023 but the sections that relate to the information that must be included in statements and certificates for both charity land disposals and mortgages have been delayed until 2024.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
