Schedule 1C, paragraph 17(1)

Rules must ensure that, during the relevant period, the board of directors of the offeree company must obtain the prior authorisation of a general meeting of the company given for this purpose— before taking any action, other than seeking alternative takeover bids, which may result in the frustration of the bid, and in particular, before issuing any shares which may result in a lasting impediment to the offeror’s acquiring control of the offeree company.

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Source: legislation.gov.uk · retrieved 2026-09-04