Source: http://uk.practicallaw.com/topic7-103-1083?source=relatedcontent
Timestamp: 2013-05-19 18:41:39
Document Index: 318781705

Matched Legal Cases: ['art 7', 'art 7', 'art 7', 'art 28', 'art 28', 'art 28', 'art 28', 'art 28']

1A guide to PLC's FATCA resourcesA guide to PLC's resources on the US Foreign Account Tax Compliance Act (FATCA).Practice note: overviewMaintained2A toolkit for takeoversA guide to PLC's materials on takeovers, which includes links to our materials.Practice note: overviewMaintained3Disguised remuneration tax legislation (rewards from third ...The Finance Act 2011 introduced anti-avoidance legislation (Part 7A of the Income Tax (Earnings and Pensions) Act 2003) to counter the use of employee benefit trusts and other intermediaries to reward employees (or their family members) in a way that avoids income tax or NICs. HMRC referred originally to these arrangements as disguised remuneration (and this phrase is now widely used, but it is not in the legislation). Part 7A applies from 6 April 2011 and has the potential to tax many arrangements in addition to the targeted avoidance schemes. This note provides an overview of Part 7A.Practice note: overviewMaintained4Loan notes in share deals: tax FAQsFrequently asked tax questions relating to the use of loan notes as consideration for the sale of shares.Practice note: overviewMaintained5Takeover Code know-how: indexAn index of notes providing access to know-how and Takeover Panel practice relating to the Takeover Code Rules, on a Rule by Rule basis. Each of the notes includes links to documents which may help interpret the relevant Rules. Examples of know-how covered include relevant Takeover Panel Practice Statements issued by the Panel Executive, selected Panel annual reports, Panel consultation papers and response statements, Panel Statements and PLC materials.Practice note: overviewMaintained6Takeovers A to ZAn index of key terms used in takeovers, together with details of the relevant Takeover Code Rules that refer to or deal with each term, key Takeover Panel materials that provide know-how on each term and relevant PLC materials. So far, we have published terms A-J. We will be adding to the terms in due course.Practice note: overviewMaintained7Takeovers: implementation of the Directive on Takeover BidsThe resources produced by PLC Corporate in connection with the implementation of the Directive on Takeover Bids (2004/25/EC) (the Directive) on 20 May 2006, the other changes made to the Takeover Code in the run up to 20 May 2006 and the permanent implementation of the Directive on 6 April 2007 when Part 28 of the Companies Act 2006 came into force.Practice note: overview01-Jul-20098Takeovers: overviewAn overview of the principal considerations involved in a public takeover in the UK including the regulation of takeovers by the Takeover Code, an outline of a typical takeover offer and EU and UK Merger Control.Practice note: overviewMaintained9Taper relief: overviewThis note is a brief overview of the key features of capital gains tax (CGT) taper relief as it applied to shares and securities. Taper relief was available to individuals, personal representatives and trustees.Taper relief has been abolished for disposals made on or after 6 April 2008 (see paragraphs 23 to 56 of Schedule 2 to the Finance Act 2008). Taper relief does not apply to deferred gains which come into charge after 5 April 2008.Practice note: overview05-Apr-200810Tax clearances: generalThis note discusses the current UK rulings system and practical issues relating to clearances. It also links to several other practice notes that provide guidance on clearances in specific situations.Practice note: overviewMaintained112007 Public M&A deals: the main featuresThis table lists takeovers announced in 2007 with a value in excess of £250 million. The deals are organised by size, with the largest first. The table lists the main features of each deal and provides a link to the announcement of each deal. It also links through to wording from the offer documentation where appropriate, for example to the wording of bespoke conditions. We have prepared a more detailed summary for each completed deal which again users can click through to if they require further information on an individual deal. The detailed summaries for example include trigger events for break fees, more detail of pension deficit negotiations and so on.We have highlighted in this overview:deal structure;any restriction on the target's right to agree a break fee with another bidder;if the target gave the bidder a right to match any competing bid for a set period;unusual or bespoke conditions;extended disclosures regarding the target's workforce;deals involving negotiations with the target's pension trustees.More details can then be found by clicking through to the deal announcement or to the deal summary. For details of more recent public takeovers and for fuller details of the issues covered in the table below, see PLC What's Market.Practice notes31-Dec-2007122008 Public M&A deals: the main featuresThis table contains details of takeovers announced in 2008 with a value in excess of £250 million. The table includes links to the offer documentation where this was made available on one of the company's websites. For details of more recent public takeovers and for fuller details of the issues covered in the table below, see PLC What's Market.Practice notes26-Nov-200813Accounting: takeoversThe main accounting methods used on a takeover bid.Practice notes01-Dec-200414Announcing the offerAnnouncing a takeover bid crystallises the obligation to make a takeover bid under the Takeover Code (subject to any pre-conditions). This note looks at the content of the press announcement, irrevocable undertakings or lock-ups obtained before the announcement; and typical conditions applied to the bid.Practice notesMaintained15Bid planning and due diligenceKey issues for a potential takeover bidder to consider, such as: whether there are other methods available (for example schemes of arrangement); who should be in the bidder's team; due diligence enquiries; the obtaining of irrevocable undertakings and possible sources of information on the target.Practice notesMaintained16Break fees and other deal protection measuresThis practice note addresses the legal constraints to which parties to acquisitions and takeover offers are subject when considering entering into break fee arrangements. In the context of the introduction of the general prohibition on such arrangements in the Takeover Code, the note also examines the impact of the prohibition on other types of deal protection measures. The note also considers the legal issues relating to break fee arrangements (where these are permitted), how they may be structured and trigger events for the payment of a break fee.Practice notesMaintained17Break fees: extracts from offer and scheme documentsExtracts from offer and scheme documents summarising the terms of break fee arrangements, including mutual break fees, exclusive break fee arrangements and matching rights.Practice notes05-Feb-200718Bribery Act 2010: acquisitions and joint venturesThis note addresses the issues relating to corruption to consider when acquiring a business or shares in a target company or entering into a joint venture, particularly in light of the Bribery Act 2010.Practice notesMaintained19Buying out minority shareholdersAn examination of the treatment of minority shareholders in a takeover bid. The note looks at the right of non-assenting shareholders to be bought out and the compulsory acquisition of non-assenting shareholders' shares by the bidder using the procedures set out in Chapter 3 of Part 28 of the Companies Act 2006 or a scheme of arrangement.Practice notesMaintained20Changes to the City Code on Takeovers and Mergers and the ...A summary of the changes made to the City Code on Takeovers and Mergers (the Code) and the Rules Governing Substantial Acquisitions of Shares (SARs) on 20 May 2006. A new edition of the Code was published and took effect on 20 May 2006 and includes changes made as a result of the implementation of the Directive on Takeover Bids (2004/25/EC) as well as changes made following consultation by the Code Committee of the Panel on Takeovers and Mergers in relation to the abolition of the SARs, dealings in derivatives and options and various miscellaneous amendments. The note also covers the further changes made to the Code on 6 April 2007 when Part 28 of the Companies Act 2006 came into force.Practice notes06-Apr-200721Changes to the UK takeovers regime from 20 May 2006 ...An overview of some of the principal changes to the UK takeovers regime from 20 May 2006 as a result of the implementation of the Directive on Takeover Bids (2004/25/EC) as well as key changes that have been made to the City Code on Takeovers and Mergers (the Code). For a more detailed summary of the changes to the Code, see Practice note, Changes to the City Code on Takeovers and Mergers and the Rules Governing Substantial Acquisitions of Shares from 20 May 2006.Practice notes06-Apr-200722Communications with shareholders and others: takeoversA look at how the Takeover Code regulates the information supplied to shareholders in the course of a takeover bid, including the requirement of secrecy before the bid and the rules on statements to the press and media, advertisments and telephone campaigns.Practice notesMaintained23Consideration and underwriting: takeoversA note looking at the financing of a takeover bid, comparing the three main methods; cash, loan notes and shares. The section on cash looks at the cash confirmation statement and various means of financing the cash, such as through debt finance, cash underpinning arrangements and trombone rights issues. The section on loan notes looks at hold-over relief for qualifying corporate bonds (QCBs), roll-over relief for non-QCBs and Takeover Code considerations, while the section on shares looks at pre-emption rights, and merger relief. Contingent value rights and mix and match offers are also addressed.Practice notesMaintained24CREST: takeoversA summary of the impact of CREST on a takeover bid.Practice notesMaintained25Cross-Border Mergers RegulationsAn overview of the Companies (Cross-Border Mergers) Regulations 2007 which establish a framework for cross-border mergers between companies formed and registered under the Companies Acts and companies governed by the law of an EEA state other than the UK.Practice notesMaintained26Deal analysis: analysis of schemes of arrangement used to ...A table setting out the key features of schemes of arrangement used to effect the largest recent takeovers of UK public companies, between 1 September 2006 and 31 May 2008. For details of more recent schemes of arrangement and for fuller details of the issues covered in the table below, see PLC What's Market. Schemes have been the structure of choice for most of the largest deals announced in 2007 and 2008. Of the deals with a value of £250 million and above announced in 2007, 28 were announced or subsequently structured as schemes and 6 were offers. For 2008 (up to November) these figures were 14 and 8 respectively. The table sets out: Details of any right reserved by the parties to convert the structure to an offer. A further example of a transaction structured as a scheme being switched to an offer was the Wienerberger acquisition of Baggeridge Brick when a potential rival bidder acquired a 17% stake. Wienerberger later increased its offer price, acquired a substantial stake and declared its offer unconditional as to acceptances. Note that the Takeover Code now deals specifically with switching from a scheme to an offer and vice versa - see Section 8 of Appendix 7 to the Code.An overview of the structure of the scheme.Details of the obligations to implement the scheme and any subsequent timetable disruptions.For further information on the use of a scheme of arrangement to implement a takeover offer see PLC Practice note, Schemes of arrangement: takeovers , PLPractice notes31-May-200827Deal analysis: deal protection on public takeovers launched ...This document outlines the methods used by bidders on the largest recommended takeovers launched in January to April 2007 to protect the deal against the risk of a competitive bid. It follows similar analysis published by PLC Corporate on takeovers launched between September and December 2006 (see Deal analysis: deal protection on public takeovers launched September to December 2006). For other deal analysis materials published by PLC Corporate, see Deal analysis.Practice notes17-May-200728Deal analysis: deal protection on public takeovers launched ...This document outlines the methods used by bidders on the largest recommended takeovers between September and December 2006 to protect the deal against the risk of a competitive bid. It also covers Cinven's offer for Gondola Holdings as this was the most heavily protected deal of the period. There is a table of the largest 10 deals in the period at the end of the document (table supplied by mergermarket). Nine out of these 10 deals were recommended.Practice notes23-Apr-200729Deal analysis: deal protection on public takeovers launched ...This document outlines the methods used by bidders on the largest recommended takeovers launched between May and August 2007 to protect the deal against the risk of a competitive bid. It follows similar analysis published by PLC Corporate on takeovers launched in the periods September to December 2006 and January to April 2007 (see Deal protection on public takeovers launched September to December 2006 and Deal protection on public takeovers launched January to April 2007 ). For other deal analysis materials on takeovers published by PLC Corporate, see Deal analysis: takeovers .Practice notes--30Deal analysis: loan note alternatives on public takeoversTable setting out the key features of the loan note alternatives offered on takeovers between 1 October 2006 and 28 February 2008 with a value in excess of £250 million. For details of more recent loan note alternatives on public takeovers and for fuller details of the issues covered in the table below, see PLC What's Market. The table sets out: Details of any guarantee.Whether there was a condition as to a minimum take up level for the loan note alternative before the bidder would issue any loan notes.Whether the loan notes were available for the entire cash amount of the offer or only part of it.Redemption details.The interest rates on the loan notes.Transfer restrictions.For further information on loan note alternatives to takeover offers see PLC Practice note, Consideration and underwriting: takeovers and PLC What's Market.Practice notes28-Feb-200831Deal analysis: takeovers involving offer of shares: prospectus ...A table setting out whether a bidder produced a prospectus in accordance with section 85 of the Financial Services and Markets Act 2000 (FSMA) on a takeover involving an offer of shares as consideration or a document accepted by the Financial Services Authority (the FSA) as equivalent to a prospectus in accordance with paragraph 1.2.2R(2) of the Prospectus Rules. The table covers share exchange offers announced after 1 September 2006 - 31 December 2007. For details of more recent share exchange offers involving the issue of a prospectus or equivalent document and for fuller details of the issues covered in the table below for 2007 deals, see PLC What's Market. A bidder has to prepare a prospectus and obtain FSA approval for this where: It offers transferable securities to the public in the UK. This will be the case on a takeover for a UK target which is structured as a takeover offer but not where it is structured as a scheme of arrangement.Securities representing 10% or more of the existing issued shares are to be admitted to trading on a UK regulated market. For further details see Practice note, When is a prospectus required? Note that the table does not include transactions where a prospectus/equivalent document was not required, for example a scheme of arrangement involving an AIM bidder.Practice notes14-Jan-200832Defensive tactics and the legal and regulatory constraintsTactics which can be deployed by a target board after it has received a hostile takeover bid including an explanation of Takeover Code and common law restrictions on defensive schemes.Practice notesMaintained33Direct taxesThis practice note gives an overview of direct taxes in the UK tax regime. It covers income tax, corporation tax and capital gains tax. It discusses the principles of calculation, rates, payment and compliance, and reliefs (such as capital allowances and research and development (R&D) relief).Practice notesMaintained34Duties and liabilities of directors and advisers of the bidder ...A look at the duties, obligations and liabilities of directors and advisers that are parties to a takeover bid arising from statute, common law, the Takeover Code and the UK Listing Authority's Listing Rules.Practice notesMaintained35Employee benefit trusts: concert party clearance from the ...The proposed acquisition of shares by an employee benefit trust raises many questions. This note focusses on the potential need to consult the Takeover Panel to determine whether the trustees are acting in concert for the purposes of the Takeover Code.Practice notesMaintained36Employment issues on a takeoverAn overview of key issues relating to employees that arise on a takeover.Practice notesMaintained37Failed bidRestrictions under the Takeover Code after an unusuccessful bid which applies to a bidder and anyone who acted in concert with the bidder restricting them from acquiring shares for twelve months after the bid. The note looks at when the Panel may give its consent under the Rule, including a Rule 9 whitewash.Practice notesMaintained38Financing an offer for a public company: the certain funds ...This practice note provides an overview of the "certain funds" and cash confirmation requirements set out in the City Code on Takeovers and Mergers (also known as the Takeover Code or Code). The note covers whether the certain funds requirement applies to all offers under the Code, pre-conditional offers and matters the bidder and its financial adviser must consider in relation to the cash confirmation. The note also contains an example certain funds period definition.Practice notesMaintained39Key dates for corporate tax practitioners: 2012A practice note listing key forthcoming dates in 2012 for corporate tax practitioners.Practice notesMaintained40Key dates for corporate tax practitioners: 2013A practice note listing key forthcoming dates in 2013 for corporate tax practitioners.Practice notesMaintained41Offers for unquoted companiesThis note identifies the circumstances in which, even where the target company is private, or where it is public but not quoted, it may be necessary or desirable for an offer to be made. It analyses the provisions of relevant legislation and The City Code on Takeovers and Mergers which require special consideration in the context of such an offer.Practice notesMaintained42Options, convertibles, warrants and other classes of share ...The Takeover Code regulates how share options, convertibles, warrants and other classes of share capital should be treated during a bid.Practice notesMaintained43Overseas shareholders: takeoversGeneral information on how a takeover bid in the UK is affected by securities laws in the US (looking at securities exchange offers and exceptions, such as the Regulation S Safe Harbor), Canada and Australia.Practice notes23-Jan-201244Panel on Takeovers and Mergers: Companies Act 2006A note outlining the provisions relating to the Panel on Takeovers and Mergers made by the Companies Act 2006 (2006 Act). Part 28 (takeovers) of the 2006 Act came into force on 6 April 2007.Practice notesMaintained45Preparing for a hostile bidThe tactics which can be deployed by a target board facing a potential hostile takeover bid.Practice notesMaintained46Recommended offers: the target's perspectiveThe main issues facing the board of a company which has received a takeover bid, such as the decision whether or not to recommend the bid, the directors' duties, due diligence from the target's perspective, offers of compensation to directors of the target, financial assistance considerations and arrangements in relation to the bidder's costs.Practice notesMaintained47Regulatory and competition issues: takeoversThis note examines the regulation of takeover bids under the EU merger regulation and under UK competition rules. The note also looks at industry specific regulatory issues in the UK and gives brief details on national merger control regulation in overseas countries.Practice notesMaintained48Rule 2 of the Takeover Code: Panel practiceA note on the Takeover Panel Executive's Practice Statement No. 20 which sets out the way the Executive normally interprets and applies certain provisions of Rule 2 of the Takeover Code in relation to the need for secrecy before, and timing and contents of, possible offer announcements.Practice notesMaintained49Rule 9 of the Takeover Code: whitewash and waiverA note on the whitewash procedure under Rule 9 of the Takeover Code (the Code) and the circumstances in which the Takeover Panel may grant a waiver from the requirement to make a general offer under Rule 9 of the Code.Practice notesMaintained50Schemes of arrangement: takeoversA practice note explaining how schemes of arrangement can be used in a recommended takeover as an alternative to an offer.Practice notesMaintained51Share sales: pre 6 April 2008 CGT position and planningThis practice note sets out the tax treatment of disposals of shares by individuals before 6 April 2008 and outlines some of the tax planning which took place before changes to the capital gains tax rules took effect on 6 April 2008. It also covers loan notes and earn-outs issued before 6 April 2008 in consideration for the sale of shares. We have retained this material as it may be useful when completing tax returns for periods to 5 April 2008 and dealing with HMRC enquiries relating to those periods.Practice notes05-Apr-200852StakebuildingA note on the restrictions applying to a bidder seeking to build a stake in the target through purchases of shares before or during a takeover bid. The article covers insider dealing; market abuse; consideration; irrevocable undertakings or lock-ups; Takeover Code restrictions; disclosure requirements under the Disclosure and Transparency Rules and the Companies Act 2006; and the use of market purchase vehicles, such as off balance sheet or diamond structure companies.Practice notesMaintained53Stamp dutyThis note considers the practical impact of stamp duty on commercial transactions. NOTE: This resource is being reviewed in light of the 2013 Budget. For more information, see Legal update, 2013 Budget: key business tax announcements.Practice notesMaintained54Stamp duty reserve taxThis practice note considers the practical impact of stamp duty reserve tax in the context of commercial transactions. NOTE: This resource is being reviewed in light of the 2013 Budget. For more information, see Legal update, 2013 Budget: key business tax announcements.Practice notesMaintained55Stamp duty: reliefsThis note considers the various reliefs and exemptions from stamp duty available in a commercial context. NOTE: This resource is being reviewed in light of the 2013 Budget. For more information, see Legal update, 2013 Budget: key business tax announcements.Practice notesMaintained56Takeover Code know-how: Appendix 1: Whitewash guidance ...Takeover Panel practice and PLC know-how relating to Appendix 1 (Whitewash guidance note) of the Takeover Code. Includes links to documents which may help interpret the relevant provisions.Practice notesMaintained57Takeover Code know-how: Appendix 5: Tender offersTakeover Panel practice and PLC know-how relating to Appendix 5 (Tender offers) of the Takeover Code. Includes links to documents which may help interpret the relevant provisions.Practice notesMaintained58Takeover Code know-how: Appendix 7: Schemes of ...Takeover Panel practice and PLC know-how relating to Appendix 7 (Schemes of arrangement) of the Takeover Code. Includes links to documents which may help interpret the relevant provisions.Practice notesMaintained59Takeover Code know-how: definition of acting in concertTakeover Panel practice and PLC know-how relating to the definition of "acting in concert" in the Takeover Code. Includes links to documents which may help interpret the relevant provisions.Practice notesMaintained60Takeover Code know-how: definition of dealingsTakeover Panel practice and PLC know-how relating to the definition of "dealings" in the Takeover Code. Includes links to documents which may help interpret the relevant provisions.Practice notesMaintained61Takeover Code know-how: definition of interests in securitiesTakeover Panel practice and PLC know-how relating to the definition of "interests in securities" in the Takeover Code. Includes links to documents which may help interpret the relevant provisions.Practice notesMaintained62Takeover Code know-how: Introduction to the CodeTakeover Panel practice and PLC know-how relating to the Introduction to the Takeover Code. Includes links to documents which may help interpret the relevant provisions.Practice notesMaintained63Takeover Code know-how: Irrevocable commitmentsTakeover Panel practice and PLC know-how relating to irrevocable commitments. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained64Takeover Code know-how: Rule 10Takeover Panel practice and PLC know-how relating to Rule 10 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained65Takeover Code know-how: Rule 11Takeover Panel practice and PLC know-how relating to Rule 11 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained66Takeover Code know-how: Rule 12Takeover Panel practice and PLC know-how relating to Rule 12 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained67Takeover Code know-how: Rule 13Takeover Panel practice and PLC know-how relating to Rule 13 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained68Takeover Code know-how: Rule 14Takeover Panel practice and PLC know-how relating to Rule 14 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained69Takeover Code know-how: Rule 15Takeover Panel practice and PLC know-how relating to Rule 15 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained70Takeover Code know-how: Rule 16Takeover Panel practice and PLC know-how relating to Rule 16 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained71Takeover Code know-how: Rule 17Takeover Panel practice and PLC know-how relating to Rule 17 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained72Takeover Code know-how: Rule 18Takeover Panel practice and PLC know-how relating to Rule 18 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained73Takeover Code know-how: Rule 19Takeover Panel practice and PLC know-how relating to Rule 19 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained74Takeover Code know-how: Rule 2Takeover Panel practice and PLC know-how relating to Rule 2 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained75Takeover Code know-how: Rule 20Takeover Panel practice and PLC know-how relating to Rule 20 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained76Takeover Code know-how: Rule 21Takeover Panel practice and PLC know-how relating to Rule 21 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained77Takeover Code know-how: Rule 22Takeover Panel practice and PLC know-how relating to Rule 22 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained78Takeover Code know-how: Rule 23Takeover Panel practice and PLC know-how relating to Rule 23 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained79Takeover Code know-how: Rule 24Takeover Panel practice and PLC know-how relating to Rule 24 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained80Takeover Code know-how: Rule 25Takeover Panel practice and PLC know-how relating to Rule 25 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained81Takeover Code know-how: Rule 26Takeover Panel practice and PLC know-how relating to Rule 26 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained82Takeover Code know-how: Rule 27Takeover Panel practice and PLC know-how relating to Rule 27 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained83Takeover Code know-how: Rule 28Takeover Panel practice and PLC know-how relating to Rule 28 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained84Takeover Code know-how: Rule 29Takeover Panel practice and PLC know-how relating to Rule 29 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained85Takeover Code know-how: Rule 3Takeover Panel practice and PLC know-how relating to Rule 3 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained86Takeover Code know-how: Rule 30Takeover Panel practice and PLC know-how relating to Rule 30 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained87Takeover Code know-how: Rule 31Takeover Panel practice and PLC know-how relating to Rule 31 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained88Takeover Code know-how: Rule 32Takeover Panel practice and PLC know-how relating to Rule 32 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained89Takeover Code know-how: Rule 33Takeover Panel practice and PLC know-how relating to Rule 33 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained90Takeover Code know-how: Rule 34Takeover Panel practice and PLC know-how relating to Rule 34 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained91Takeover Code know-how: Rule 35Takeover Panel practice and PLC know-how relating to Rule 35 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained92Takeover Code know-how: Rule 36Takeover Panel practice and PLC know-how relating to Rule 36 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained93Takeover Code know-how: Rule 37Takeover Panel practice and PLC know-how relating to Rule 37 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained94Takeover Code know-how: Rule 38Takeover Panel Practice and PLC know-how relating to Rule 38 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained95Takeover Code know-how: Rule 4Takeover Panel practice and PLC know-how relating to Rule 4 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained96Takeover Code know-how: Rule 5Takeover Panel practice and PLC know-how relating to Rule 5 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained97Takeover Code know-how: Rule 6Takeover Panel practice and PLC know-how relating to Rule 6 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained98Takeover Code know-how: Rule 7Takeover Panel practice and PLC know-how relating to Rule 7 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained99Takeover Code know-how: Rule 8Takeover Panel practice and PLC know-how relating to Rule 8 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained100Takeover Code know-how: Rule 9Takeover Panel practice and PLC know-how relating to Rule 9 of the Takeover Code. Includes links to documents which may help interpret the relevant Rules.Practice notesMaintained101Takeover Code: destinations tableA destinations table showing where each of the Rules in the ninth edition of the Takeover Code is located in the new edition of the Takeover Code to be published on 19 September 2011 when the Code changes take effect, following the Code Committee's review of certain aspects of the regulation of takeover bids.Practice notes19-Sep-2011102Takeover Code: recent and proposed changesThis note tracks the recent changes and proposed changes to the Takeover Code.Practice notesMaintained103Takeover documentsThe main documents involved on a takeover bid, whether hostile or recommended.Practice notesMaintained104Takeover offer and scheme of arrangement: comparative ...This document compares the timetables involved for a takeover offer and a scheme of arrangement under section 899 of the Companies Act 2006 used to acquire control of a public company and which involves a reduction of capital. For a comparison of offers and schemes in this context, see Practice note, Takeover offer or scheme of arrangement? There is also a detailed timetable for a takeover offer: see Practice note, The offer timetable. References to Rules are to Rules of the Code and references to the Schemes Appendix are to Appendix 7 to the Code.Practice notesMaintained105Takeover offer or scheme of arrangement?A note comparing a takeover offer with a scheme of arrangement.Practice notesMaintained106Takeovers: Companies Act 2006A note outlining the provisions on takeovers made by the Companies Act 2006 (2006 Act). Part 28 (takeovers) of the 2006 Act came into force on 6 April 2007.Practice notesMaintained107Tax clearances: exchanges of securities and reconstructionsThis note describes the UK tax treatment of reconstructions and exchanges of securities, and discusses the procedure for obtaining HMRC clearance for such transactions.Practice notesMaintained108Tax legislation tracker: archiveA document containing items formerly found in PLC Tax legislation trackers but that are now in force.Practice notesMaintained109Tax legislation tracker: corporateA document tracking the development of certain notable pieces of proposed new legislation relating to corporate taxation.Practice notesMaintained110Tax on chargeable gains: general principlesThis note is a general summary of the UK rules applying to the taxation of chargeable gains. It describes what chargeable gains are, what assets are affected, when disposals arise, the way in which gains are calculated and the manner in which they are taxed, exceptions from taxation, anti-avoidance rules and how allowable losses may be used. This note is intended as a general overview, so you should be aware that the tax treatment in a particular case may differ from the general position described in this note.Practice notesMaintained111The City Code on Takeovers and MergersA note on when the Takeover Code applies and its principal requirements as well as an explanation of the role of the Takeover Panel.Practice notesMaintained112The offer timetableA note on how the Takeover Code regulates the timing of various stages of the takeover bid.Practice notesMaintained113Timeline for a merger under the Cross-Border Mergers ...This document contains a timeline for a merger under The Companies (Cross-Border Mergers) Regulations 2007 (SI 2007/2974). The Regulations implement the Directive on Cross-Border Mergers of Limited Liability Companies (2005/56/EC). For information on the Regulations see Practice note, Cross-Border Mergers Regulations.Note that the timeline does not include negotiations over employee participation which may take up to 12 months. The final court approval for the merger cannot be given until the arrangements have been finalised. This needs to be factored into the early stages of the merger process.Practice notesMaintained114Transactions in securities: tax anti-avoidanceThis practice note explains the transactions in securities rules under which HMRC can counteract a tax advantage for a taxpayer arising from certain types of transaction(s) in shares or securities.Practice notesMaintained115What's Market (UK): recent deals publishedA practice note listing the recent deals published on What's Market.Practice notesMaintained116What's Market: Public M&APractice notesMaintained117What's Market: Public M&A deals: break feesDetails from PLC What's Market deals database of takeovers of UK public companies that included break fee arrangements since 1 January 2007. The database contains a summary of each deal and links to the deal documentation. To view the database, see What’s Market, Public M&A deals: break fees.Practice notesMaintained118What's Market: Public M&A deals: conditions highlighted in the ...Details from PLC What's Market deals database of takeovers of UK public companies that highlighted conditions in the offer announcement since 1 January 2007. The database contains a summary of each deal and links to the deal documentation. To view the database, see What's Market, Public M&A deals: conditions highlighted in the offer announcement.Practice notesMaintained119What's Market: Public M&A deals: equity issue to finance dealDetails from PLC What's Market deals database of takeovers of UK public companies funded by way of an equity issue since 1 January 2007. The database contains a summary of each deal and links to the deal documentation. To view the database, see What's Market, Public M&A deals: equity issue to finance deal.Practice notesMaintained120What's Market: Public M&A deals: offeree protection conditionsDetails from PLC What's Market deals database of takeovers of UK public companies that included offeree protection conditions since 1 January 2007. The database contains a summary of each deal and links to the deal documentation. To view the database, see What's Market, Public M&A deals: offeree protection conditions.Practice notesMaintained121What's Market: Public M&A deals: pre-conditionsPractice notesMaintained
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