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The legal template titled "Audit Committee Terms Of Reference (AIM Listed Company) under UK law" is a comprehensive document that outlines the specific guidelines and responsibilities of an audit committee within a company listed on the AIM (Alternative Investment Market) in the United Kingdom.

The template provides a framework that adheres to UK regulations, laws, and best practices for corporate governance. It encompasses the composition, role, and responsibilities of the audit committee, aiming to ensure transparency, accountability, and effective oversight of financial reporting and auditing processes.

The document may include various sections, such as the committee's purpose and scope, membership requirements, and composition guidelines. It can also outline the committee's duties, including but not limited to reviewing and approving financial statements, assessing internal control systems, monitoring compliance with regulatory requirements, and overseeing the external audit process.

Additionally, the template may cover the committee's authority and decision-making powers, communication and reporting mechanisms, meeting procedures, and annual evaluation processes. It may provide provisions for the committee's access to necessary resources, including expertise, training, and independent advice.

Overall, the "Audit Committee Terms Of Reference (AIM Listed Company) under UK law" legal template serves as a vital tool for formalizing and clarifying the role and responsibilities of the audit committee within an AIM-listed company, ensuring a robust system of governance and financial oversight.

This legal template is a comprehensive document that provides a board briefing on the EU Payment Services Directive Two (PSD2) specifically in the context of UK law. The template is designed to help organizations understand and explore the implications of PSD2 on their operations and compliance obligations. It offers a detailed analysis of the key provisions and requirements set forth by the directive, focusing on how they impact the provision of payment services within the UK.

The template covers various aspects related to PSD2, including but not limited to, the scope and applicability of the directive, new obligations for payment service providers and banks, changes in customer authentication and security standards, access to payment systems for third-party providers, and the introduction of open banking. It presents a clear overview of the legal and regulatory framework governing payment services under PSD2 in the UK, ensuring that the board members are well-informed about the obligations and opportunities arising from the directive.

Furthermore, the template provides valuable guidance on the necessary actions that organizations should consider implementing to maintain compliance, such as conducting comprehensive risk assessments, updating internal policies and procedures, establishing strong customer authentication methods, and enhancing data protection and privacy measures. It may also discuss the potential impact of PSD2 on the organization's competitive landscape, customer relationships, and strategic decision-making, enabling the board to identify and evaluate business opportunities or potential risks associated with the directive.

Overall, this legal template serves as an essential resource for boards of directors, legal teams, and executive management within organizations operating in the UK payment services sector. It helps ensure a comprehensive understanding of PSD2 and its implications, enabling informed decision-making and necessary actions for compliance and strategic planning.