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Rules definition

What does Rules mean? Rules describes the written provisions that govern how a pension scheme operates—especially occupational pension schemes—usually contained in, or annexed to, the trust deed (trust deed and rules). Legislation refers to these as scheme rules (for example, Pensions Act 1995 and Pensions Act 2004 in the UK, and the Pensions Act 1990 in Ireland). Scheme rules set out eligibility, benefit structure (defined benefit or defined contribution), contributions, service and accrual, retirement options and ages, revaluation/indexation, ill‑health and death benefits, transfers in and out, leaver provisions, forfeiture, augmentation, priority on winding‑up, discretions and decision‑making, and the scheme’s amendment and termination powers. They also...

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UK public takeovers: glossary of terms from the City Code and Companies Act 2006

Practice notes
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References in this glossary to rules and Notes are to the rules of, and notes to, The City Code on Takeovers and Mergers (Code), and references to the CA 2006 are to the Companies Act 2006. Glossary entries defined in the Definitions section at the start of the Code are flagged ‘( Code definition )’.

A A Definition

  • acceleration statement ( Code definition ) An acceleration statement is a declaration by an offeror that brings forward the final date by which every condition to the offer must be satisfied or waived. See Practice Note: Offer tactics—revisions, extensions, acceleration statements and alternative offers—Acceleration statements and acceptance conditional invocation notices.
  • Acceptance condition A condition to an offer that specifies the minimum level of acceptances below which the offeror may choose not to proceed. Rule 10.1 requires any offer for voting equity share capital or for other transferable securities carrying voting rights to include an acceptance condition that cannot be satisfied unless the offeror has acquired or agreed to acquire (whether under the offer or otherwise) shares carrying over 50% of the voting rights. See Practice Note: Conditions and terms.
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Web page updated on 22/05/2026

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