# The Takeover Code (Concert Parties) Regulations 2008, Regulation 2: Application of Rule 9 of the Takeover Code

Extent: E+W+S+N.I.

(1) For the purposes of Rule 9 of the Takeover Code the following persons are not to be regarded as acting in concert with each other or the Treasury or the Secretary of State or UKFI by virtue of the Treasury holding (through a nominee or otherwise) shares in each of those persons—
(a) a person some or all of the shares in which are held by a nominee of the Treasury or a company wholly owned by the Treasury as a result of the exercise of powers under the Banking (Special Provisions) Act 2008;
(b) a person participating in the recapitalisation scheme.
(2) For the purposes of Rule 9 of the Takeover Code, the Treasury, the Secretary of State and UKFI are not to be regarded as acting in concert with each other by virtue of the Treasury’s relationship with, and the Secretary of State’s and UKFI’s functions in relation to, a person listed in paragraph (1)(a) or (b).

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Source: https://www.legislation.gov.uk/uksi/2008/3073/regulation/2 (the official version)
Page: https://openlegislation.uk/takeover-code-concert-parties-regulations-2008/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.