Regulation 3 Amendments to the Companies Act 2006

for subsection (1), substitute—

“(1)

The Panel must make rules—

(a)

giving effect to the general principles in Part 1 of Schedule 1C, and

(b)

in accordance with Part 2 of that Schedule.”;

after subsection (1), insert—

“(1A)

Rules must specify the percentage of voting rights that gives a person control of a company for the purposes of this Chapter and how it is to be calculated.”;

in subsection (7), for “of the Takeovers Directive” substitute “given by paragraph 20(1) of Schedule 1C”;

omit subsection (8).