City code


Also found in: Dictionary, Legal.

City code

a regulatory system operated voluntarily by interested parties to the UK STOCK EXCHANGE that lays down ‘rules of good conduct’ governing the tactics and procedures used in TAKEOVER BIDS and MERGERS. The general purpose of the code is to ensure that all SHAREHOLDERS (both the shareholders of the firm planning the takeover and those of the target firm) are treated equitably, and that the parties involved in arranging a takeover bid do not abuse privileged ‘insider’ information, or misuse such tactics as CONCERT PARTIES, DAWN RAIDS and CHINESE WALLS.

The City code is administered by the City Panel on Takeovers and Mergers, which is responsible for formulating rules of practice and for investigating suspected cases of malpractice. See also INSIDER TRADING.

References in periodicals archive ?
6 of the City Code on Takeovers and Mergers, in order to enable conversations with parties interested in making proposals on a confidential basis.
In a written statement, Linwu county said Deng and Huang were selling watermelons in an area that was not designated for that and were uncooperative when the city code enforcers told the couple to move their stand to a designated area.
A central tenet of the City Code is that shareholders must be given sufficient information and advice to reach an informed decision on any takeover offer for their company.
In the event that News Corp is permitted pursuant to the City Code to announce an offer or possible offer for BSkyB, News Corp reserves the right to do so at any price and at a price less than 700 pence per BSkyB Share in the event that either: (i) it is recommended by the Board of BSkyB; or (ii) there is an announcement by a third party of an offer or a possible offer for BSkyB at a price lower than 700 pence per BSkyB Share; or (iii) BSkyB declares, makes or pays a dividend which is in excess of its stated dividend policy at the time of this announcement; or (iv) it is so permitted by the City Code.
City code officials will work with building owners, tenants and contractors to identify reasonable and more affordable ways to meet the intent of building and fire codes.
City officials say they won't fine Uber drivers right away to give them the chance to comply with city code, which requires anyone who gives rides to a passenger for money to obtain public passenger vehicle certification from the city.
Proper stairwell dimensions--22 inches of width per 60 occupants on a floor--are a key factor in the search and Lizzul indicated that ground floor retail space would give the school more flexibility in accommodating city code by allowing for the construction of additional stairways.
8 of the City Code within 6 months of the date of this announcement:
Tenders are invited for provide plan review and construction code inspection services within the city for commercial property and residential properties, with the exception of 1 and 2 family units, where the owners are undertaking any construction or renovation requiring a building permit under the city code, from the start of the project through completion, including certifying that all completed construction work met the requirements of the commonwealth~s uniform construction code and chapter 109 and chapter 116 of the city code.
Under city code, permit decisions can be appealed to a hearings official within 15 days of the initial denial.
com, a toll free traffic hotline 1-866-MY-TRAFC, an SMS service with which users can text their city code to TRAFC, and a WAP site at mobi.
In the past, UO public safety officers have been able to detain people on campus for suspicion of violating the city code - most often for minor in possession of alcohol or possession of less than an ounce of marijuana.