Public Sector Undertaking acquisition: takeover restrictions waived when sale agreement provides reversion and government penalty for noncompliance. Where a public announcement under the proviso to Regulation 14(1) follows a Share Purchase or Shareholders' Agreement with the Central Government for acquisition of a PSU, certain restrictions on director appointments, acting under agreements, transfers of securities and board changes do not apply if the sale agreement contains a reversion clause vesting shares or control back to the Central Government on non-compliance and provides for Central Government-imposed penalties; no competitive bid announcement may follow such an acquirer's announcement.