All links in the ‘consultation paper’ and ‘response statements’ columns in the following table are to documents in PDF format. Links in the ‘individual responses’ column are to web pages where responses to that consultation are collated. Individual responses to consultations prior to 2011 are available from the Panel upon application.
| Subject | Consultation paper | Response statement | Individual responses |
|---|---|---|---|
| Companies to which the Takeover Code applies (see here for further information) | PCP2024/1 | RS2024/1 | Responses |
| Review of Rule 21 (Restrictions on frustrating action) and other matters | PCP2023/1 | RS2023/1 | Responses |
| Miscellaneous Code amendments | PCP2022/4 | Responses | |
| The offer timetable in a competitive situation | PCP2022/3 | Responses | |
| Presumptions of the definition of “acting in concert” and related matters View PCP Slides View PCP Webinar View RS Slides View RS Webinar | PCP2022/2 | Responses | |
| Removal of restriction on anonymous order book dealings | PCP2022/1 | Responses | |
| Miscellaneous Code amendments | PCP2021/1 | Responses | |
| Conditions to offers and the offer timetable | PCP2020/1 | RS2020/1 | Responses |
| The United Kingdom’s withdrawal from the European Union | PCP2018/2 | RS2018/2 | Responses |
| Asset valuations | PCP2018/1 | RS2018/1 | Responses |
| Statements of intention and related matters | PCP2017/2 | RS2017/2 | Responses |
| Asset sales in competition with an offer and other matters | PCP2017/1 | RS2017/1 | Responses |
| The communication and distribution of information during an offer | PCP2016/1 | RS2016/1 | Responses |
| Additional presumptions to the definition of acting in concert | PCP2015/3 | RS2015/3 | Responses |
| Restrictions and suspensions of voting rights | PCP2015/2 | RS2015/2 | Responses |
| Dividends | PCP2015/1 | RS2015/1 | Responses |
| Post-offer undertakings and intention statements | PCP2014/2 | RS2014/2 | Responses |
| Miscellaneous amendments to the Takeover Code | PCP2014/1 | RS2014/1 | Responses |
| Companies subject to the Takeover Code | PCP2012/3 | RS2012/3 | Responses |
| Pension scheme trustee issues | PCP2012/2 | RS2012/2 | Responses |
| Profit forecasts, quantified financial benefits statements, material changes in information and other amendments to the Takeover Code (see presentation) | PCP2012/1 | RS2012/1 | Responses |
| Review of certain aspects of the regulation of takeover bids: proposed amendments to the Takeover Code | PCP2011/1 | RS2011/1 | Responses |
| Review of certain aspects of the regulation of takeover bids | PCP2010/2 | Statement 2010/22 | – |
| Profit forecasts, asset valuations and merger benefits statements | PCP2010/1 | – | – |
| Amendments to Rule 5.2(c)(iii) | PCP2009/3 | RS2009/3 | – |
| Miscellaneous Code amendments | PCP2009/2 | RS2009/2 | – |
| Extending the Code’s disclosure regime | PCP2009/1 | RS2009/1 | – |
| Electronic communications, websites and information rights | PCP2008/3 | RS2008/3 | – |
| Miscellaneous Code amendments | PCP2008/2 | RS2008/2 | – |
| Competition reference periods | PCP2008/1 | RS2008/1 | – |
| Schemes of arrangement | PCP2007/1 | RS2007/1 | – |
| Miscellaneous Code amendments | PCP2006/1 | RS2006/1 | – |
| The implementation of the Takeovers Directive. Proposals relating to amendments to be made to the Takeover Code | PCP2005/5 | RS2005/5 | – |
| Proposed abolition of the Rules Governing Substantial Acquisitions of Shares | PCP2005/4 | RS2005/4 | – |
| Dealings in Derivatives and Options. Detailed proposals relating to amendments proposed to be made to the Takeover Code. Part 2: Control Issues | PCP2005/3 | RS2005/3 | – |
| Dealings in Derivatives and Options. Detailed proposals relating to amendments proposed to be made to the Takeover Code. Part 1: Disclosure Issues | PCP2005/2 | RS2005/2 | – |
| Dealings in Derivatives and Options. Outline proposals relating to amendments proposed to be made to the Takeover Code and the SARs. | PCP2005/1 | – | – |
| Conditions and pre-conditions. Revision proposals relating to various Rules of the Takeover Code and the SARs | PCP2004/4 | RS2004/4 | – |
| Market Related Issues. Revision proposals relating to various Rules of the Takeover Code and the SARs | PCP2004/3 | RS2004/3 | – |
| Possible offer announcements. Revision proposals relating to Rule 2.4 of the Takeover Code | PCP2004/2 | RS2004/2 | – |
| “Put up or shut up” and no intention to bid statements. Revision proposals relating to Rules 2.4, 2.8 and 35.1 of the Takeover Code | PCP2004/1 | RS2004/1 | – |
| Offeree protection conditions. Revision proposals relating to Rule 13 of the Takeover Code | PCP15 | – | – |
| Minor amendments concerning disclosure of relevant share capital. Revision proposals relating to Rules 2 and 9 and Appendix 1 of the Takeover Code | PCP14 | RS14 | – |
| Treasury Shares. Revision proposals relating to the definitions of the Takeover Code and the SARs and to Note 7 on Rule 21 | PCP13 | RS13 | – |
| Questions as to the possible amendment of Rule 31.9 and related rules. Revision proposals relating to Rules 31.5, 31.9, 32.1 and 32.2 of the Takeover Code | PCP12 | RS12 | – |
| Dual listed company transactions and Frustrating action. Revision proposals relating to the definition of an offer and Rule 21.2 of the Takeover Code | PCP11 | RS11 | – |
| Shareholder activism and acting in concert. Revision proposals relating to Note 2 on Rule 9.1 of the Takeover Code | PCP10 | RS10 | – |
| Questions as to the potential concertedness of the trustees of an employee benefit trust with the board and/or a controlling shareholder. Revision proposals relating to Rule 9.1 of the Takeover Code | PCP9 | RS9 | – |
| Aggregation of dealings requiring disclosure. Revision proposals relating to Note 4 on Rule 24.3 of the Takeover Code | PCP8 | RS8 | – |
| Resolution of competitive situations. Revision proposals relating to Rules 31.6, 32 and 35 of the Takeover Code | PCP7 | RS7 | – |
| Purchases by the offeror of shares in the offeree in exchange for securities. Revision proposals relating to Rule 11 of the Takeover Code | PCP6 | RS6 | – |
| Electronic acceptances in CREST. Revision proposals relating to Rules 10 and 31.6 of the Takeover Code | PCP5 | RS5 | – |
| Disclosure of side agreements relating to offer pre-conditions and conditions. Revision proposals relating to Rules 2.5, 24.2 and 26 of the Takeover Code | PCP4 | RS4 | – |
| Equality of information to competing offerors. Revision proposals relating to Rule 20.2 of the Takeover Code | PCP3 | RS3 | – |
| “Refresher” announcements under Rule 2.4. Revision proposals relating to Rule 2.4 of the Takeover Code | PCP2 | RS2 | – |
| The dissemination of regulatory information – The FSA’s proposals and implications for the Takeover Code. Revision proposals relating to Rules 2.5, 5.4, 8 and 38.5 of the Takeover Code and SARs 3 and 5 | PCP1 | RS1 | – |