The Takeovers Directive (Interim Implementation) Regulations 2006

Offence of disclosure in contravention of regulation 7

This section has no associated Explanatory Memorandum

8.—(1) A person who discloses information in contravention of regulation 7 is guilty of an offence, unless—

(a)he did not know, and had no reason to suspect, that the information had been provided as mentioned in regulation 7(1); or

(b)he took all reasonable steps and exercised all due diligence to avoid the commission of the offence.

(2) A person guilty of an offence under this regulation is liable—

(a)on conviction on indictment, to imprisonment for a term not exceeding two years or a fine (or both);

(b)on summary conviction, to imprisonment for a term not exceeding three months, or to a fine not exceeding the statutory maximum (or both).

(3) Where a company or other body corporate commits an offence under this regulation, an offence is also committed by every officer of the company or other body corporate who is in default.

(4) Proceedings for an offence under this regulation are not to be brought—

(a)in England and Wales except by or with the consent of the Secretary of State or the Director of Public Prosecutions;

(b)in Northern Ireland except by or with the consent of the Department of Enterprise, Trade and Investment or the Director of Public Prosecutions for Northern Ireland.