Singapore: MAS publishes updated takeover code

An updated edition of the Singaporean Takeovers and Mergers Code has been published by the Monetary Authority of Singapore: see here. The new Code takes effect on 25 March and has been amended to clarify, amongst other things, that a board's solicitation of a competing offer does not amount to the frustration of the existing …

Kenya: new corporate governance code published

A copy of Kenya's new corporate governance code – the Code of Corporate Governance Practices for Issuers of Securities to the Public 2015, to give it its full title – has been published in the Kenya Gazette: see here (pdf, pages 872 to 886). The new code replaces the 2002 governance guidelines for public listed …

Hong Kong: SFC Principles for Responsible Ownership – consultation conclusions published

Last year the Securities and Futures Commission published a consultation paper setting out its proposed Principles of Responsible Ownership: see here (pdf). Yesterday it published its consultation conclusions, and stated that the Principles are to be adopted but with some modifications. A copy of the amended Principles, together with the SFC's conclusions, is available here …

UK: HM Treasury consultation – the framework for insurance special purpose vehicles and protected cell companies

HM Treasury has published a consultation paper in which it sets out the key features of the proposed new framework for insurance special purpose vehicles (ISPVs): see here (pdf). Chapter four explores the corporate structure for ISPVs, and explains that the Treasury proposes to amend companies and insolvency law to allow for the creation of …