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bruneilawsby aturio
In forceAs enacted
Contents

Part I · Preliminary

5. Increasing control

(1)

For the purposes of this Part, a controller of a regulated person increases his control over the regulated person if -

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{a} the percentage of shares held by the controller in the regulated person increases by any of the steps mentioned in subsection (2);

{b) the percentage of shares held by the controller in a parent undertaking of a regulated person increases by any of the steps mentioned in subsection (2);

{c)

the percentage of voting power which the controller is entitled to exercise, or control the exercise of, in the regulated person increases by any of the steps mentioned in subsection (2);

(d)

the percentage of voting power which the controller is entitled to exercise, or control the exercise of, in the parent undertaking increases by any of the steps mentioned in subsection (2); or

(e)

the controller becomes a parent undertaking of a regulated person.

(2)

The steps are -

(a}

from below 10 percent to 10 percent or more but less than 20 percent;

(b)

from below 20 percent to 20 percent or more but less than 33 percent;

(c)

from below 33 percent to 33 percent or more but less than 50;

(d)

from below 50 percent to 50 percent or more.

(3)

In paragraphs (a} to (d) of subsection (1), ''controller" means

(a} the controller;

(b)

any of the controller's associates; or

(c)

the controller and any of his associates.

(4)

In this Part, ''acquiring control" or ''having control" ipcludes

(a}

acquiring or having an additional kind of control; or

(b)

acqmnng an increase in a relevant kind of control, or having increased control of a relevant kind.

Report

Read on from s 6

Part II

Read on from Part II

Part III

Market Operators and Market Infrastructure

Part IV

Self-Regulating Organisations

Read on from Part IV

Part X

Part X.

Read on from Part X

Part VI

Public Company Statements and Reporting Requirements

Read on from Part VI

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