Check to ascertain that a member’s free standing additional voluntary contributions (FSAVC) do not exceed the IR’s maximum of 15 per cent of pensionable earnings for an occupational scheme. The check applies to members with contributions of more than £2,400 gross per annum (January 2003 figure). The earnings cap applies to the headroom check if it applies to the main benefits.

Apply to all workstations using display screen equipment (VDUs) and habitual users of such equipment. The employer must analyse each workstation to assess the risks to health. There are minimum requirements for each workstation based on the equipment, the environment and the interface between users and equipment. The Regulations call for the planning of regular breaks, eye tests at the request of employees, corrective appliances, training and information on health and safety. A breach is criminal and also supports civil actions.

Cover the requirements for first aid provision in the workplace.

Legal framework to promote high standards of health and safety at work. It sets out general duties employers have towards employees, customers and the general public. It also sets out the duties that employees have towards themselves and their colleagues. The duties are based on the ideal of ‘so far as is reasonably practicable’ meaning the time, cost and difficulty to avoid or reduce a risk have to be balanced against the degree of risk itself. Persons with five or more employees must have a written safety policy. The law is enforced by HSE inspectors or environmental health officers. Where problems exist they may issue improvement notices or prohibition notices. Criminal prosecutions can be against companies and individuals. See HEALTH AND SAFETY COMMISSION; HEALTH AND SAFETY EXECUTIVE.

The HSC and the Health and Safety Executive administer the Health and Safety at Work, etc., Act 1974 and are a focus of initiative for all matters relating to health and safety at work. HSC consists of representatives of both sides of industry and the local authorities. It is responsible for developing policies in the health and safety field, and for making proposals to the appropriate minister. When HSC takes action it can: (a) issue guidance on specific industries or processes; (b) publish an Approved Code of Practice; (c) propose statutory regulations or changes in existing regulations.

A separate statutory body appointed by the Health and Safety Commission that works in accordance with the advice and guidance given by the Commission. The Executive also enforces legal requirements and provides an advisory service to both sides of industry. The major inspectorates in the health and safety field are within the Executive.

A unit of temperature in a weather derivative measuring how low the average daily temperature is relative to a reference temperature, usually 18°C or 65°F. A baseline of 18°C minus an average temperature of 13°C gives 5 HDDs signifying how much heating is required that day by a weather-affected trader, e.g. pavement café. The payout is a specified notional amount, i.e. the tick, multiplied by the difference between the HDD level specified in the contract (the strike) and the cumulative HDDs for the period. HDDs are used as a hedge against ‘cooler’ summers by leisure companies, beverage suppliers, etc. Compare with cooling degree days. See COOLING SEASON; HEATING SEASON.

Process involving the application of heat such as drying, baking and cooking. The term is significant in fire insurance as damage to any property undergoing a heating process is an excluded form of loss. It is not an excluded risk, as any fire damage that flows from the damage to the heated property will be covered by the policy.

Weather risk term meaning November to March. Weather derivatives may run for just one season or a full year. See COOLING SEASON.

Upward movement of land that can result from the expansion of the clay sub-soil after the removal of trees or other vegetation or from the natural movement of earth and rock. Heave is usually insured when subsidence is also covered.
***
Horizontal displacement upwards, as distance from subsidence.