Brexit – Company. In response to Brexit, the applicants, UBS Ltd and UBS Europe SE, purposed to transfer some of UBS Ltd's business to UBS SE under Pt VII s 106 of the Financial Services and Markets Act 2000. The Commercial Court, in allowing the application, considered, among other things, that the design of the scheme was one which struck an appropriate balance between the desirability of certainty to clients and business, on the one hand, and to the exigencies of transferring to a different jurisdiction, on the other.