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of <h1>Section 6A of Competition Act, 2002: Rules on Open Offers and Share Acquisitions via Stock Exchanges.</h1> Section 6A of the Competition Act, 2002, addresses the implementation of open offers and acquisitions of shares or convertible securities through regulated stock exchanges. It stipulates that such transactions are permissible if the acquisition notice is filed with the Commission within the specified timeframe and manner. Additionally, the acquirer must refrain from exercising ownership rights, including voting and dividends, until the Commission approves the acquisition. The term 'open offer' is defined as per the Securities and Exchange Board of India regulations. This provision was inserted by the Competition (Amendment) Act, 2023, effective from September 10, 2024.
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