Jurisdiction(s):
United Kingdom

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 Takeover Code, Rule 32: offer revisions, no increase statements, competitive auctions, and offeree, employee and pension trustee opinions - publication duties, schemes, and Panel guidance

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Practice notes

Rule 32—Setting the scene

This Resource Note summarises the key provisions of Rule 32 of the City Code on Takeovers and Mergers (the Code), which concerns revisions to offers, including the obligation to publish a revised offer document, no increase statements, competitive situations and the offeree board’s opinion on any revised offer.

It signposts pertinent materials, commentary and guidance from the Panel, together with Lexis+® UK analysis and resources, to offer practical support on interpreting and applying Rule 32.

Code and Lexis+® UK resources

Practice Statements issued by the Panel Executive (the body handling the day-to-day supervision and regulation of takeovers) (Executive), giving informal guidance on how the Executive typically interprets and applies the Code
Panel Statements published by the Panel (P/S) and Panel Instruments
Public Consultation Papers (PCP) and Response Statements (RS) issued by the Code Committee
Annual Reports published by the Panel discussing broader issues (Annual Reports)
Relevant Lexis+® UK resources

What it covers

Rule 32 addresses revisions of offers, including the need to publish a revised offer document, no increase statements, competitive situations and...

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Web page updated on 22/05/2026

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