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Code company
Practical Law ANZ Glossary w-020-8347 (Approx. 2 pages)
Glossary
Code company
For the purposes of the Takeovers Code (Code), a "code company" means a company:
- That is a listed issuer that has financial products that confer voting rights quoted on a licensed market.
- That was a listed issuer that has financial products that confer voting rights quoted on a licensed market at any time during a period specified in the Code (being a period not exceeding 12 months before any date or the occurrence of any event referred to in the Code).
- That:
- has 50 or more shareholders and 50 or more share parcels; and
- is at least medium-sized.
For more information on code companies, including recommended amendments to the definition of code company by the Takeovers Panel, see Practice note, Application of the Takeovers Code, the Takeovers Panel and enforcement of the Takeovers Code: Code companies and the Takeovers Panel's guidance on unlisted code companies.