Takeovers Panel
Schemes of Arrangement and Amalgamations Involving Code Companies
5 December 2007

Contents

1. INTRODUCTION
2. STATUS QUO AND THE NATURE OF THE PROBLEM
Takeovers: the market for corporate control
Background to the Takeovers Panel and Takeovers Code
Status quo
Nature of the problem
The issue
Discussion
Scope and scale
Summary of the problem
3. POLICY OBJECTIVES
4. OPTIONS
Outline of the options
Option 1 Anti-avoidance provisions inserted into reconstruction provisions
Option 2: Statutory exemption from Code
Option 3 Align Companies Act's thresholds and disclosures with the Code
Option 4: Prohibit Part 13 amalgamations in respect of Code companies
Option 5: Prohibit schemes and amalgamations in respect of Code companies Postscript to consideration of options
Summary assessment of the options
5. YOUR FEEDBACK
6.  Appendix

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