The Contract (Third-Party Rights) (Scotland) Act 2017 (the “2017 Act”) was passed by the Scottish Parliament on 21 September 2017 and received Royal Assent on the 30th October 2017. The Act came fully into force on 26 February 2018.
The Companies Act 2006 (the Act) sets out directors’ duties in a statutory code. This, broadly, brought in to statute the common law as it stood before the Act, but it also introduced, amongst others, a new duty to promote the success of the company.
The Sanctions and Anti-Money Laundering Bill (the “Bill”) was introduced to the House of Lords on 18 October 2017. It is scheduled to have its second reading on 1 November 2017. The Bill seeks to enable the UK to continue to comply with the current UN sanctions regime after Brexit and is the first item of legislation brought to the House of Lords as part of the Brexit process.