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of <h1>New Section 6A Allows Share Acquisitions via Stock Exchanges with Commission Notice and Approval Required First</h1> The Competition (Amendment) Act, 2023 introduces a new section 6A to the principal Act, allowing the implementation of open offers or acquisition of shares or convertible securities through transactions on regulated stock exchanges. This is permissible if the acquisition notice is filed with the Commission as specified by regulations and the acquirer refrains from exercising ownership rights, including voting and dividend rights, until the Commission's approval. An 'open offer' is defined per the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulation, 2011. The amendment takes effect on September 10, 2024.
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