(1) The Authority may make rules ("endorsing rules") -
(a) endorsing the City Code on Takeovers and Mergers issued by the Panel on Takeovers and Mergers;
(b) endorsing the Rules Governing Substantial Acquisitions of Shares issued by the Panel.
(1A) The Authority may not make endorsing rules in respect of provisions of that Code that are given effect by regulation 3 of the Takeovers Directive (Interim Implementation) Regulations 2006.
(2) Endorsement may be -
(a) as respects all authorised persons; or
(b) only as respects a specified kind of authorised person.
(3) At any time when endorsing rules are in force, and if asked to do so by the Panel, the Authority may exercise its powers under Part IV or section 66 as if failure to comply with an endorsed provision was a ground entitling the Authority to exercise those powers.
(4) At any time when endorsing rules are in force and if asked to do so by the Panel, the Authority may exercise its powers under Part XIII, XIV or XXV as if the