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Beneficial ownership control requires prior approval before any change in share ownership or control arrangements. Beneficial ownership of shares in a Managing General Agent, and any change in its contribution or control structure, can be effected only with prior approval of the Competent Authority. The approval must be obtained in the manner and process specified by that authority, making regulatory consent a prerequisite for any alteration in ownership or control arrangements.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Beneficial ownership control requires prior approval before any change in share ownership or control arrangements.
Beneficial ownership of shares in a Managing General Agent, and any change in its contribution or control structure, can be effected only with prior approval of the Competent Authority. The approval must be obtained in the manner and process specified by that authority, making regulatory consent a prerequisite for any alteration in ownership or control arrangements.
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