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Listed Companies (Substantial Acquisition of Voting Shares and Take-overs) Ordinance, 2002

Topic Serial # Content Case Law
 

PREAMBLE

 
0 PREAMBLE
 

CHAPTER I

 
 

PRELIMINARY

 
1 Short title, extent and commencement
2 Definitions
3 Ordinance not to apply to certain transactions
 

CHAPTER II

 
 

DISCLOSURE OF SHAREHOLDING IN A LISTED COMPANY

 
4 Acquisition of more than ten per cent voting shares of a company
 

CHAPTER III

 
 

SUBSTANTIAL ACQUISITION OF VOTING SHARES AND ACQUISITION OF CONTROL OF A LISTED 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
 

CHAPTER IV

 
 

ENQUIRY AND RELATED MATTERS

 
21 Enquiry Case Law
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
30 Ordinance to override other laws etc Case Law
31 Removal of difficulties
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