{
  "url": "https://openlegislation.uk/takeovers-directive-interim-implementation-regulations-2006/regulation-10",
  "json_url": "https://openlegislation.uk/takeovers-directive-interim-implementation-regulations-2006/regulation-10.json",
  "legislation": "uksi/2006/1183",
  "legislation_title": "The Takeovers Directive (Interim Implementation) Regulations 2006",
  "legislation_url": "https://openlegislation.uk/takeovers-directive-interim-implementation-regulations-2006",
  "path": "regulation/10",
  "kind": "regulation",
  "number": "10",
  "heading": "Failure to comply with rules about bid documentation",
  "text": "(1) This regulation applies where there is a takeover bid to which the offer document rules apply.\n(2) Where an offer document published in respect of the bid does not comply with offer document rules, an offence is committed by—\n(a) the person making the bid; and\n(b) where the person making the bid is a body of persons, any director, officer or member of that body who caused the document to be published.\n(3) A person commits an offence under paragraph (2) only if—\n(a) he knew that the offer document did not comply, or was reckless as to whether it complied; and\n(b) he failed to take all reasonable steps to secure that it did comply.\n(4) Where a response document published in respect of the bid does not comply with response document rules, an offence is committed by any director or other officer of the company for which the bid is made, who—\n(a) knew that the response document did not comply, or was reckless as to whether it complied; and\n(b) failed to take all reasonable steps to secure that it did comply.\n(5) Where an offence is committed under subsection (2)(b) or (4) by a company or other body corporate (“the relevant body”)—\n(a) subsection (2)(b) has effect as if the reference to a director, officer or member of the person making the bid included a reference to a director, officer or member of the relevant body;\n(b) subsection (4) has effect as if the reference to a director or other officer of the company referred to in subsection (1) included a reference to the director, officer or member of the relevant body.\n(6) A person guilty of an offence under this regulation is liable—\n(a) on conviction on indictment, to a fine;\n(b) on summary conviction, to a fine not exceeding the statutory maximum.\n(7) Proceedings for an offence under this regulation are not to be brought—\n(a) in England and Wales except by or with the consent of the Secretary of State or the Director of Public Prosecutions;\n(b) in Northern Ireland except by or with the consent of the Department of Enterprise, Trade and Investment or the Director of Public Prosecutions for Northern Ireland.\n(8) Nothing in this regulation affects any power of the Panel in relation to the enforcement of its rules.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2006/1183/regulation/10",
    "retrieved_at": "2026-10-29T04:29:33.649883+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."
}