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05 July 2018

Overturned appeal regarding statutory guidance on investments

On 23 June 2017 the High Court published a ruling that the Secretary of State had exceeded his regulation making powers in the Ministry of Housing, Communities and Local Government (MHCLG).

They ruled that the section of the statutory Guidance on preparing and maintaining an investment strategy statement stating that funds should not pursue policies that are contrary to UK foreign policy or UK defence policy was unlawful.

In a recent judgement, the Court of Appeal has now overturned the decision of the High Court.  One of the respondents, the Palestine Solidarity Campaign, may be seeking permission to appeal the Court of Appeal’s decision.

The High Court ruling to remove the foreign boycott provision remains in force until a final judgement is made.