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bruneilawsby aturio
In forceAs enacted
Contents

Part VI · Public Company Statements and Reporting Requirements

152. Tender offer

(1)

No person (including issuers making offers for their own shares and affiliated persons) shall make a tender offer except in accordance with this Order and regulations made by the Authority.

(2)

The Authority may, by regulations, include in the definition of a tender offer in Brunei Darussalam the following 1349

(a)

active, widespread and persistent solicitations of purchase of common securities of a certain issuer;

(b)

a person who makes an offer intends to purchase a considerable portion of common securities of an issuer as defined by the Authority;

(c)

a person who makes an offer declares the purchase price of securities which exceeds their average market price over an appropriate period determined by the Authority and such additional considerations as may be determined by the Authority;

(d)

terms on which an offer is made are permanent and do not vary depending on wishes of a holder of securities;

(e)

a person who makes an offer intends to purchase a known number of securities;

({)

an offer is valid only within time periods established beforehand;

(g)

a person to whom an offer is addressed is pressed to sell securities he owns;

(h)

an offer is followed or preceded by the appropriate public advertisement;

(i)

any other matters as may be determined by the Authority.

Report

Read on from s 153

Part VII

Capital Markets Services Licence and Representative'S Licence

Read on from Part VII

Part VIII

Books, Audit and Client'S Assets

Part IX

Read on from Part IX

Part X

Intervention Powers of Authority

Read on from Part X

Part XI

Complaints Committee and Investor Compensation Scheme

Read on from Part XI

Part XII

Financial Markets Services Panel

Read on from Part XII

Part XIII

General

Read on from Part XIII