Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Requirements definition

What does Requirements mean? In Development Consent Order (DCO) practice, Requirements are the binding conditions that regulate how, when and on what detailed terms the authorised development may proceed. They typically oblige the undertaker to submit and secure approval of detailed design, construction, and environmental management documents (for example, CEMP, traffic, landscape, contamination and archaeology plans) before commencement, phased works or operation. The term is used in legislation: section 120 of the Planning Act 2008 permits a DCO to impose “requirements”. In most DCOs they are set out in a schedule (often Schedule 2) and function similarly to planning conditions under the Town and Country...

Defined benefit pension schemes in takeovers under the UK Takeover Code: trustee rights, offeror disclosures, Rule of Six, intention statements, mitigation agreements, notifiable events and Pensions Regulator clearance

Published by a LexisNexis Pensions expert

Practice notes

This Practice Note considers the pension aspects that arise on transactions (including share sales) within the scope of the City Code on Takeovers and Mergers (the Takeover Code). For pension issues of more general application to share sales, see Pension issues in share sales—an introduction.

The Takeover Code

The Takeover Code is the commonly used name for the City Code on Takeovers and Mergers. It is issued by the Panel on Takeovers and Mergers (the Panel), the independent supervisory body for corporate transactions under Part 28 of the Companies Act 2006.

Purpose of the Takeover Code

The Takeover Code establishes an orderly framework for the conduct of takeovers. Its primary aim is to ensure that the shareholders of a target company are treated fairly and equally and are afforded the opportunity to decide on the merits of a takeover offer. The Takeover Code comprises principles and Rules and emphasises compliance with their spirit rather than a purely literal reading.

When does the Takeover Code apply?...

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Andrew Patten

Fieldfisher

I started life as a pensions lawyer in 1996. Since then, each passing year has seen an increase in the amount and complexity of pensions law and regulation. It can be difficult, even for an expert, to keep up with the pace of change. I help clients by delivering clear, practical advice and recommendations allowing them to navigate this complex pension's landscape and achieve a successful outcome to their issue. My work covers schemes and employers of all shapes and sizes with those in the financial services, retail and energy sectors being an area of specialism. Areas of focus include funding and security arrangements, liability management exercises, scheme restructurings (closing schemes, changing benefit structures and merging schemes) and outsourcing, administration, governance and benefit audit projects. I am also experienced in acting as a professional trustee. I play an active role in the pensions industry, sitting on...

Web page updated on 21/05/2026

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