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...

UK public takeovers: employee information rights, offeror intention disclosures, and board, employee and pension trustee opinions under the Takeover Code and Companies Act 2006

Published by a LexisNexis Corporate expert

Practice notes

Background

While every employee of an offeree will usually be keenly interested in the fate of an offer, a public takeover rarely alters their employment rights directly, because their employing entity does not change. Nevertheless, the City Code on Takeovers and Mergers (the Code) and the Companies Act 2006 (CA 2006) impose several obligations that the parties to a takeover must address in relation to the offeree’s workforce. Among these is General Principle 2, which provides that security holders of an offeree must be given adequate time and information to make a properly informed decision on the bid; where it advises those security holders, the offeree board must state its opinion on how implementing the bid would affect employment, terms and conditions, and the locations of the company’s places of business. In addition, taking account of employees’ interests forms part of the broader general duty on Directors, under the CA 2006, to promote the company’s success. That duty obliges directors this forms part of their responsibilities under the CA 2006 to promote the company’s success, with regard to employees’ interests, and sits alongside Code obligations, so the board’s statement addresses employment, terms, and the company’s locations, and duty requires directors...

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Web page updated on 22/05/2026

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