Open offer implementation allowed via regulated exchange subject to notice filing and suspension of ownership rights pending commission approval. Section 6A permits implementation of an open offer or acquisition of shares or convertible securities via series transactions on a regulated stock exchange despite sub-section (2A) of section 6 and section 43A, provided (a) notice of the acquisition is filed with the Commission as specified by regulations, and (b) the acquirer does not exercise ownership or beneficial rights including voting and dividends until the Commission approves the acquisition under sub-section (2A) of section 6. 'Open offer' is defined by reference to the Substantial Acquisition of Shares and Takeovers regulation.
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Provisions expressly mentioned in the judgment/order text.
Open offer implementation allowed via regulated exchange subject to notice filing and suspension of ownership rights pending commission approval.
Section 6A permits implementation of an open offer or acquisition of shares or convertible securities via series transactions on a regulated stock exchange despite sub-section (2A) of section 6 and section 43A, provided (a) notice of the acquisition is filed with the Commission as specified by regulations, and (b) the acquirer does not exercise ownership or beneficial rights including voting and dividends until the Commission approves the acquisition under sub-section (2A) of section 6. "Open offer" is defined by reference to the Substantial Acquisition of Shares and Takeovers regulation.
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