The Takeovers Panel has granted a new class exemption from rule 6(1) of the Takeovers Code for persons who are or who become trustees of a private family trust as part of a bona fide reorganisation of a private family trust or an event outside the control of the trustees of the trust. Subject to certain conditions, the Takeovers Code (Trustees of Family Trusts) Exemption Notice 2012 is available for persons who increase their voting control in a code company as a result of changes to the trust's trustees (changes to trustees), provided there is no increase in voting control in the code company on behalf of the trust resulting from the changes to trustees.