EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations, which are made under section 1043 of the Companies Act 2006 (the Act), apply Part 28 of that Act (takeovers etc), and certain ancillary provisions, to unregistered companies and in doing so further implement Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on Takeover Bids (“the Directive”).
There are considered to be no costs and benefits arising from this instrument as it replicates for unregistered companies provisions which are currently in force under the Takeovers Directive (Interim Implementation) Regulations 2006 (S.I. 2006/1183). A Transposition Note is available from the Company Law and Governance Directorate, Department of Trade and Industry, Bay V565, 1 Victoria Street, London, SW1H 0ET. A copy has also been placed in the libraries of both Houses of Parliament.