Listed Companies (Substantial Acquisition of Voting Shares and Takes-Overs) Ordinance, 2002

  1924  visitors reached this page     251  visitors downloaded PDF file




1 Short title, extent and commencement.
2 Definitions.
3 Ordinance not to apply to certain transactions.
4 Acquisition of more than ten percent voting shares of a company.
5 Additional acquisition of voting shares.
6 Consolidation of holdings.
7 Appointment of manager to the offer.
8 Timing of the public announcement.
9 Public announcement.
10 Contents of public offer, mode of payment and minimum offer price.
11 Public announcement and offer letter etc., not to contain misleading material.
12 Number of voting shares to be acquired.
13 General obligations of the acquirer.
14 General Obligations of the Board of Directors of the Target Company.
15 General obligations of the manager to the offer.
16 Procedure for making competitive bid.
17 Upward revision of Offer.
18 Withdrawal of public offer.
19 Security to be furnished by the acquirer.
20 Procedure for payment and delivery of voting shares.
21 Enquiry.
22 Notice before enquiry.
23 Obligations on enquiry by the Commission.
24 Submission of report and communication of findings.
25 Directions by the Commission.
26 Penalties for non-compliance.
27 Delegation of powers.
28 Relaxation of provisions of the rules.
29 Power of the Commission to make rules.
29A Power of the Commission to make regulations.
29B The Power of the Commission to issue directives, circulars, guidelines, etc.
30 Ordinance to override other laws etc.
31 Removal of difficulties.







© Copyright Ministry of Law and Justice