SFC proposes changes to the Hong Kong Takeovers Code
Last Friday, the SFC published a consultation paper on proposed amendments to the Takeovers Code. It has been over 10 years since substantive amendments were made to the Takeovers Code in 2007.
The amendments proposed in this latest consultation paper span numerous aspects of the Codes, including to reform the powers of the Executive and Panel, narrow the definition of “associate” and revise the requirements for whitewash waivers and delistings; in addition, several more administrative and clarificatory changes are proposed. The consultation period will close on 19 April 2018.