Friday 13 February 2015

UK: The Companies (Cross-Border Mergers) (Amendment) Regulations 2015

The Companies (Cross-Border Mergers) (Amendment) Regulations 2015 were laid before Parliament yesterday and come into force on 6 April 2015: see here or here (pdf). The Regulations seek to clarify the UK's implementation of Article 17 of the Cross-Border Mergers Directive 2005/56/EC by amending article 16(3) of the Companies (Cross-Border Mergers) Regulations 2007 in order to make explicit that a merger may not be declared null and void when it has taken effect. Further information is available in the accompanying explanatory memorandum: see here (pdf).

Note: the operation of the Directive was the subject of a consultation by the European Commission that concluded last month: see here.

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