Execution of deeds and documents – Mercury Tax

Property and corporate lawyers are still juggling with the implications of the Mercury Tax case (R (on the application of Mercury Tax Group Limited) v HMRC [2008] EWHC 2721 (Admin)). It will be recalled that this is the case involving the not unknown practice of obtaining a signed execution page from the client, and affixing it to a later finalised document. This, said Mr Justice Underhill, is ineffective as a mode of execution. The City of London Law Society has just published some guidance setting out possible options available to parties when executing documents at ‘virtual’ signings or completions (i.e. where some or all of the signatories are not physically present at the same meeting). The guidance is prepared by a joint working party of The Law Society Company Law Committee and The City of London Law Society Company Law and Financial Law Committees. Click on: http://www.citysolicitors.org.uk/FileServer.aspx?oID=571&lID=0