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  1. Point in time
    2006-10-02

MAR 4.1 Application and Purpose

Application

MAR 4.1.1RRP

1This chapter applies to every firm whose permission includes, or ought to include, any designated investment business, except as set out in MAR 4.4.1 R.

MAR 4.1.2GRP

MAR 4.1.1 R applies regardless of whether the firm's activity:

  1. (1)

    is a regulated activity;

  2. (2)

    is carried on from an office of the firm in the United Kingdom; or

  3. (3)

    is in respect of a client in the United Kingdom.

Purpose

MAR 4.1.3G

The Takeover Code and the SARs provide valuable regulation in the areas of takeovers, mergers and substantial acquisition of shares of companies. The purpose of endorsing the Takeover Code and the SARs is to provide them with statutory support. The other requirements in this chapter provide further support for the functions of the Takeover Panel.

MAR 4.1.4G

Endorsing the Takeover Code and the SARs and imposing the other requirements in this chapter furthers the FSA's regulatory objectives, and in particular the objectives of market confidence and protection of consumers.