Facts
- The Panel of Take-Overs and Mergers is private body which regulates the acquisition and mergers industry within the City of London; it cannot be ‘opted-out’ of.
- Datafin made a complaint that one company had breached the Panel’s code of conduct
- The panel refused to take action
Issue
- Could a judicial review claim be made against a private body?
Decision
- Yes, although the claim itself failed as there were no grounds upon which to quash the decision
Reasoning
- Private bodies which effectively performed public law functions are amenable to judicial review
