On 31 March 2021, UK TO Panel published response statement RS 2020/1.

• Also published individual responses received to PCP 2020/1, as well as instrument 2021/1, which makes the amendments to the code which were adopted in RS 2020/1.
• Amended code applied in relation to all firm offers announced in line with rule 2.7 on/after implementation date, except if this would give amendments retroactive effect.
• Any ongoing firm offers which straddle the implementation date, and any offers announced on or after the implementation date which are in competition with such ongoing offers, will continue to be subject to the unamended provisions of the code.
• Takeover code amended from 5 July 2021, new edition of code published same date.