City code

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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.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Municipal Code said Municode's self-publishing software will integrate seamlessly with its municipal websites and meetings and agenda management solution.
Standard Language of Protected Populations: Municipalities with Standard Nondiscriminatory Language in Municipal Code and or City Charter
They have presented before City Council this past month, which lead to Council member Carl DeMaio asking the City Attorney to follow up on the laws that are currently in place to protect San Diegans from fluoride treated water (Municipal code Section 67), and to look in to the use of First 5 Commission funding (tobacco tax dollars) to initiate the construction of treatment tanks and for two years of injections.
One of these creative persons recently led the Bellingham City Council to change the city's municipal code.
On July 27, 2010, the Appellate Court of Illinois, First District, reversed a decision of the Circuit Court of Cook County, finding that a local ordinance defining an abandoned gasoline station as a nuisance was not preempted by section 11-31-1 of the Illinois Municipal Code (65 1LCS 5/11-31-1).
Although the committee was generally cautious about inviting involvement from outside organizations, members recognized there may be reasons for exceptions, such as the unique challenges faced by small and rural communities that often do not have the resources or staff to evaluate thousands of pages of municipal code.
The county noted and agreed with the amendment to Section 15.2.21 of Chapter 15 of the City of Brantford Municipal Code, concerning the chair of the Social Services Committee:
The OTCs contended that they are intermediaries and not hotel operators for purposes of the local ordinances (Anaheim CA Municipal Code [section] 2.12.005.050).
Every building from the simplest shack to the grandest home to the most complex of office buildings must be built according to applicable municipal codes and pass municipal code inspectors.
It was left there so the project could be categorized as a "renovation" instead of new construction, thus satisfying some municipal code.
"The state Department of Community Affairs had already adopted regulations addressing this issue," says O'Keefe, who believes the state agency makes it clear that the issuance of a CO terminates a municipal code official's jurisdiction.
In May, the council adopted some of the suggestions including changing Newark's municipal code to comply with state law that forbids discrimination on the grounds of gender or sexual orientation in hiring and contract bids.

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