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The Takeovers (Amendment) (EU Exit) Regulations 2019

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Amendments to the Companies Act 2006

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3.  In section 943—

(a)for subsection (1), substitute—

(1) The Panel must make rules—

(a)giving effect to the general principles in Part 1 of Schedule 1C, and

(b)in accordance with Part 2 of that Schedule.;

(b)after subsection (1), insert—

(1A) Rules must specify the percentage of voting rights that gives a person control of a company for the purposes of this Chapter and how it is to be calculated.;

(c)in subsection (7), for “of the Takeovers Directive” substitute “given by paragraph 20(1) of Schedule 1C”;

(d)omit subsection (8).

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