Amendment of European Communities (Takeover Bids (Directive 2004/25/EC)) Regulations 2006.
32.— (1) The following Regulation is substituted for Regulation 7 of the Regulations of 2006:
“7.— The Panel shall ensure compliance with the principles set out in the Schedule to the Act of 1997 when performing its functions in accordance with these Regulations.”.
(2) The following paragraphs are substituted for paragraph (1) of Regulation 8 of the Regulations of 2006:
“(1) In paragraph (1A) the reference to subsection (3) of section 1 of the Act of 1997 (as it stands amended otherwise than by these Regulations) is a reference to the subsection (3) inserted in that section by the Investment Funds, Companies and Miscellaneous Provisions Act 2006.
(1A) Without prejudice to the continued application of subsection (3) of section 1 of the Act of 1997 (as it stands amended otherwise than by these Regulations) to companies referred to in Regulation 4(2), paragraph (2) has effect in relation to the application of the Act of 1997 by virtue of Regulation 4(1).”.