953 Failure to comply with rules about bid documentation
953 Failure to comply with rules about bid documentation
Companies Act 2006 | Legislation

(1)     This section applies where a takeover bid is made for a company that has securities carrying voting rights admitted to trading on a regulated market in the United Kingdom.

(2)     Where an offer document published in respect of the bid does not comply with offer document rules, an offence is committed by—

(a)     the person making the bid, and

(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.

(3)     A person commits an offence under subsection (2) only if—

(a)     he knew that the offer document did not comply, or was reckless as to whether it complied, and

(b)     he failed to take all reasonable steps to secure that it did comply.

(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 referred to in subsection (1) who—

(a)     knew that the response document did not comply, or was reckless as to whether it complied, and