- Latest available (Revised)
- Original (As made)
The Companies Act 2006 (Extension of Takeover Panel Provisions) (Isle of Man) Order 2008
You are here:
- UK Statutory Instruments
- 2008 No. 3122
- Explanatory Note
What Version
More Resources
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
EXPLANATORY NOTE
(This note is not part of the Order)
This Order extends the provisions of Chapter 1 of Part 28 of the Companies Act 2006 (c 46) to the Isle of Man with the modifications set out in the Schedule. Its purpose is to place on a statutory footing the role of the Panel on Takeovers and Mergers (“the Takeovers Panel”) in supervising relevant takeovers involving Isle of Man companies.
The modifications in the Schedule reflect differences in the legal system and governmental and regulatory structures of the Isle of Man, and make necessary consequential amendments to the Financial Services Act 2008 (an Act of Tynwald: c 8). Among other things, the modifications impose a duty on the Island’s Financial Supervision Commission to co-operate with the Takeover Panel.
The modifications also provide for the exchange of information about takeovers (subject to appropriate safeguards) between:
(i)the Takeover Panel and those with regulatory, registry, prosecution and disciplinary functions on the Isle of Man in relation to companies and their officers; and
(ii)those Manx authorities and corresponding bodies elsewhere.
The City Code on Takeovers and Mergers, which is referred to in the Order, can be found at http://www.thetakeoverpanel.org.uk/new/codesars/DATA/code.pdf.
The Order does not impose new costs on business, government or the voluntary sector.
Options/Help
Print Options
PrintThe Whole Instrument
PrintThis Explanatory Note only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.