The Panel’s statutory functions are set out in and under Chapter 1 of Part 28 (sections 942 to 965) of the Companies Act 2006 (the “Act”). Certain amendments have been made to Part 28 of the Act by The Takeovers (Amendment) (EU Exit) Regulations 2019.
See also the Explanatory Notes to the Act.
Isle of Man
Chapter 1 of Part 28 of the Act has been extended to the Isle of Man with certain modifications by The Companies Act 2006 (Extension of Takeover Panel Provisions) (Isle of Man) Order 2019.
The Panel has been appointed by the Companies (Appointment of Takeovers and Mergers Panel) (Jersey) Order 2009, made under Article 2 of the Companies (Takeovers and Mergers Panel) (Jersey) Law 2009 (the “Jersey Law”), to carry out certain regulatory functions in relation to takeovers and mergers under Jersey law. The Jersey Law has been amended by the European Union (Financial Services – Miscellaneous Amendments) (Jersey) Regulations 2019.
The Panel has been appointed under the Companies (Guernsey) Law, 2008 (the “Guernsey Law”) to carry out certain regulatory functions in relation to takeovers and mergers under Guernsey law. The Guernsey Law has been amended by The Companies (Panel on Takeovers and Mergers) (Brexit) (Guernsey) Regulations 2019.