UK: the Companies Act 2006 (Amendment of Schedule 2) (No. 2) Order 2009

The Companies Act 2006 (Amendment of Schedule 2) (No. 2) Order 2009 has been published today on the OPSI website. The Order comes into force on 1 July 2009. It amends Schedule 2 ("Specified persons, descriptions of disclosures etc for the purposes of section 948") of the Companies Act (2006) and also revokes the Companies Act 2006 (Amendment of Schedule 2) Order 2009 (although the provisions of this earlier Order are re-enacted by the new Order). The explanatory memorandum accompanying the new Order states:

From 1 July 2009 the Takeover Panel will have functions under the laws of Jersey and Guernsey in the same manner as those set out in Part 28 [of the Companies Act 2006]. This Order amends Schedule 2 to permit the disclosure of information in accordance with section 948 of the Companies Act 2006 to specified persons and for specified descriptions of disclosure in those jurisdictions to ensure a fully reciprocal application in the United Kingdom and those jurisdictions of the gateways for disclosure of material supplied to the Takeover Panel in connection with the exercise of its functions".