S.I. No. 87/2001 - Irish Takeover Panel Act, 1997 (Relevant Company) Regulations, 2001.

I, Noel Treacy, Minister of State at the Department of Enterprise, Trade and Employment, in exercise of the powers conferred on me by section 22 (1) of the Irish Takeover Panel Act, 1997 (No. 5 of 1997), as adapted by the Enterprise and Employment (Alteration of Name of Department and Title of Minister) Order, 1997 ( S.I. No 305 of 1997 ), and the Enterprise, Trade and Employment (Delegation of Ministerial Functions) Order, 1998 ( S.I. No. 265 of 1998 ), after consultation with the Irish Takeover Panel, hereby make the following regulations:

1.  These Regulations may be cited as the Irish Takeover Panel Act, 1997 (Relevant Company) Regulations, 2001.

2.  These Regulations shall come into operation on the 26th day of March, 2001.

3.  The following public limited companies are prescribed for the purposes of paragraph (c) of the definition of “relevant company” in section 2 of the Irish Takeover Panel Act, 1997 (No. 5 of 1997), namely -

(a)  a public limited company one or more of the securities of which are, for the time being, authorised to be traded on any of the following markets, namely -

(i)    the London Stock Exchange or any successor of that Exchange (whether created by the merger of 2 or more markets or otherwise);

(ii)    the New York Stock Exchange;

(iii)   the market known as Nasdaq operated by Nasdaq Stock Market, Incorporated;

(iv)   the market known as EASDAQ operated by EASDAQ S.A.;

(v)   the market known as Neuer Markt operated by Deutsche Borse AG;

(b)  a public limited company one or more of the securities of which are not, for the time being, authorised to be traded on a market referred to in paragraph (a) of this Regulation but were authorised to be traded on such a market at any time within the period of 5 years prior to the date on which the relevant proposal in relation to the takeover or other relevant transaction was made.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These Regulations expand the definition of “relevant company” that shall be subject to the jurisdiction of the Irish Takeover Panel for the purposes of the Irish Takeover Panel Act, 1997 .

The Panel's remit currently covers Irish-registered public limited companies or other bodies corporate, the securities of which are authorised to be traded on the Irish Stock Exchange (or have been so authorised within the preceding five years).

Under these Regulations, public limited companies incorporated in the State and authorised to trade on the London Stock Exchange, the New York Stock Exchange, Nasdaq, EASDAQ and the Neuer Markt will now come within the Panel's remit.

Public limited companies incorporated in the State which are not currently authorised to trade on the London Stock Exchange, the New York Stock Exchange, Nasdaq, EASDAQ and the Neuer Markt but were so authorised in the previous five years will also come within the Panel's remit.