# The Takeovers Directive (Interim Implementation) Regulations 2006, Regulation 21: Further provisions about opting-in and opting-out resolutions


(1) An opting-in resolution or an opting-out resolution must specify the date from which it is to have effect (the “effective date”).
(2) The effective date of an opting-in resolution may not be earlier than the date on which the resolution is passed.
(3) The second and third conditions in regulation 20 must be met at the time when an opting-in resolution is passed, but the first one does not need to be met until the effective date.
(4) An opting-in resolution passed before the time when voting shares of the company are admitted to trading on a regulated market complies with the requirement in paragraph (1) if, instead of specifying a particular date, it provides for the resolution to have effect from that time.
(5) The effective date of an opting-out resolution may not be earlier than the first anniversary of the date on which a copy of the opting-in resolution was forwarded to the registrar.
(6) Where a company has passed an opting-in resolution, any alteration of its articles of association that would prevent the second condition in regulation 20 from being met is of no effect until the effective date of an opting-out resolution passed by the company.

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Source: https://www.legislation.gov.uk/uksi/2006/1183/regulation/21 (the official version)
Page: https://openlegislation.uk/takeovers-directive-interim-implementation-regulations-2006/regulation-21
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.