Also known as the Takeover Panel or the Panel. The UK regulatory body that issues and enforces the Takeover Code and oversees its daily application. In doing so, the Panel aims to ensure that the spirit and not just the letter of the Code are followed. The Panel is a body made up of representatives of financial institutions and professional associations.

For further information, see the Panel website and Practice note, The City Code on Takeovers and Mergers: Authority of the Panel and the Code.