Judgment
The Court of Appeal held that the powers exercised by the Panel (regulating take-overs and enforcing a code of conduct on them) were essentially in the domain of public law and formed part of the Government's scheme to regulate the City. Those affected had no choice but to submit to the Panel's jurisdiction. As a result, the Panel had the duty to act judicially and its decisions could be checked by means of judicial review. On the merits however, the Court found no ground to quash the disputed decision.
Lord Donaldson MR gave the leading judgment.
Read more about this topic: R (Datafin Plc) V Panel For Takeovers And Mergers
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