{
  "url": "https://openlegislation.uk/merger-reference-elders-ixl-limited-and-scottish-newcastle-breweries-plc-order-1988/note",
  "json_url": "https://openlegislation.uk/merger-reference-elders-ixl-limited-and-scottish-newcastle-breweries-plc-order-1988/note.json",
  "legislation": "uksi/1988/1965",
  "legislation_title": "The Merger Reference (Elders IXL Limited and Scottish & Newcastle Breweries plc) Order 1988",
  "legislation_url": "https://openlegislation.uk/merger-reference-elders-ixl-limited-and-scottish-newcastle-breweries-plc-order-1988",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order prohibits Elders IXL Limited and its subsidiaries from acquiring, directly or indirectly, shares or interests in shares of Scottish & Newcastle Breweries plc or any of its subsidiaries if, after the acquisition, they and their associates would have more than 15% of any class of the shares; but this does not apply to existing acquisitions. They are also prohibited from exercising more than 15% of voting rights. The proposed merger of Elders and Scottish & Newcastle has been referred to the Monopolies and Mergers Commission.\nThe Order, unless previously revoked, will cease to have effect —\n(a) 40 days after the Commission’s report is laid before Parliament; or\n(b) on the failure of the Commission to report within the period allowed.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1988/1965/note",
    "retrieved_at": "2026-10-29T15:55:09.547630+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}