Practice Statements definition

What does Practice Statements mean?

Practice Statements are issued by the Executive to provide informal guidance to companies involved in takeovers and practitioners as to how the Executive normally interprets and applies relevant provisions of the Code in certain circumstances. Practice Statements do not form part of the Code, are not binding and are not a substitute for consulting the Executive to establish how the Code applies in a particular case. They are to be found toward the back of the Code, after the Appendices, and on the Panel's website.

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