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European Communities (Takeover Bids (Directive 2004/25/EC)) Regulations, 2006 [S.I. No. 255 of 2006]Introductory TextPart 1 Preliminary and General (regs. 1-3)Regulation 1 Citation, construction and commencementRegulation 2 InterpretationRegulation 3 Non-application of RegulationsPart 2 Jurisdiction of Panel and Application of Act of 1997 (regs. 4-15)Regulation 4 Application of Act of 1997Regulation 5 Competent authorityRegulation 6 Jurisdiction of PanelRegulation 7 General principlesRegulation 8 Acting in concert definition for certain purposesRegulation 9 Cooperation with other authoritiesRegulation 10 Powers of PanelRegulation 11 Rules of PanelRegulation 12 Voluntary bidRegulation 13 Adjustment of equitable priceRegulation 14 Requirements for translation and inclusion of additional informationRegulation 15 Obligations of board of offeree companyPart 3 Breakthrough Provisions (regs. 16-20)Regulation 16 Opting into Part 3 and opting out of itRegulation 17 Further provisions in relation to opting in and outRegulation 18 Consequences of opting in effect on contractual restrictionsRegulation 19 Further consequences of opting in effect on certain decision making proceduresRegulation 20 Communication of decisionPart 4 Information Requirements (reg. 21)Regulation 21 Information to be contained in directors' annual reportPart 5 Rights to buy out or be bought out in certain circumstances (regs. 22-28)Regulation 22 Application of PartRegulation 23 Right to buy out dissenting security holdersRegulation 24 Right of certain security holders to be bought outRegulation 25 Steps to be taken on foot of notice under Regulation 23(2)Regulation 26 Supplemental provisions in relation to Regulation 23 where alternative terms offeredRegulation 27 Applications to the CourtRegulation 28 Part 5: interpretation and supplementalScheduleGiven underExplanatory Note
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 20 May 2006 - onwards
Version 2 of 2

Regulation 3 Non-application of Regulations

(1) These Regulations shall not apply to -

(a) securities issued by collective investment undertakings, other than the closed-end type, or

(b) securities issued by a Central Bank of a Member State.

(2) These Regulations shall not apply to a bid made before the commencement of these Regulations.

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