CAMAC discussion paper Members schemes of arrangement
- Date:01 Oct 2008
- Type:Policy & Advocacy: Submission
In this submission to CAMAC on the discussion paper on members schemes of arrangement we highlight the issues which are of particular significance to directors. These include:
Section 3.3 - liability and defences for disclosure breaches. Information supplied in an exemplary statement under a scheme should be subject to a stand alone liability and defence regime.
Section 6.2 - managed investment schemes. The scheme provisions should extend to managed investment schemes but are of greater significance to unlisted MIS than to listed MIS
Section 6.4 - schemes opposed by the company. The scheme provisions should certainly not be adapted to facilitate their use where a target board opposes the proposal
CAMAC discussion paper - members schemes of arrangement