Date of Publication: 20 July 2026
The Panel, in exercise of the powers conferred by section 2 of the Takeover Regulations 2015, hereby makes the following rules-
(1) These Rules may be cited as the Takeover Regulations (Takeover Code) Rules 2026.
(2) These Rules shall come into force on the date of their publication.
(3) Unless the context otherwise requires, a reference to a “Section” or “Sections” is a reference to a section of these Rules and a reference to a “Paragraph” or “Paragraphs” is a reference to a Paragraph of the Schedule, which shall be referred to in their entirety as the “Takeover Code” and, together with the Takeover Regulations 2015 (including any direction issued thereunder) and these Rules, the “Takeover Regime”.
The Takeover Regime is based on a number of general principles which the Panel, in deciding how to exercise its powers, shall seek to give effect to. The principles, which are expressed in broad terms and are to be applied and interpreted in accordance with their spirit in order to achieve their underlying purpose, are-
(1) all holders of the securities o...