The Takeovers (Amendment) (EU Exit) Regulations 2019 No. 217

Amendments to the Companies Act 2006

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).