Law in 101 words

Accepted schools are independent schools and FE colleges whose teaching staff may become members of the Teachers’ Pension Scheme. An establishment is an accepted school if it was one before 1 September 2010 or if the SoS accepts it for the purposes of the Teachers’ Pensions Regulations 2010 by written notice to the proprietor. The conditions for acceptance are a written application from the proprietor of the establishment and a guarantee by a person, approved by the SoS in respect of sums due under the regulations. The employment of a person with a financial interest in the school is not pensionable.

Acknowledgment of debt

The company in re Compania de Electridad de la Provincia de Buenos Aires Ltd (1989) underwent a series of capital restructuring from 1918 to 1967 and commenced voluntary winding-up in 1975. The court held that a statements in the company’s accounts that money was owed in respect of “capital repayments due to shareholders” and “unclaimed dividends, interests and bonds redeemable” was