The principal function of the Hearings Committee is to review rulings of the Executive. The Hearings Committee also hears disciplinary proceedings instituted by the Executive when the Executive considers that there has been a breach of the Code or of a ruling of the Executive or the Panel. The Hearings Committee may also meet to consider a matter referred to it for review by the Executive or in other circumstances where the Executive or the Hearings Committee consider it appropriate to do so. The Hearings Committee can be convened at short notice, where appropriate.
The Hearings Committee comprises the Chairman of the Panel, up to three Deputy Chairmen, up to eight other members appointed by the Panel and the individuals appointed to the Panel by the Nominating Bodies.
No person who is or has been a member of the Code Committee may simultaneously or subsequently be a member of the Hearings Committee.
The procedures of the Hearings Committee are summarised in section 7 of the Introduction to the Code. Its full procedures are set out in its Rules of Procedure.
Any party to a hearing before the Hearings Committee (or any person denied permission to be a party to the hearing before the Hearings Committee) may appeal to the Takeover Appeal Board (www.thetakeoverappealboard.org.uk) against any ruling of the Hearings Committee or the chairman of the hearing (including in respect of procedural directions).