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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 16 July 2013 - onwards
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Regulation 31 Asset stripping.

(1) Where an AIF, individually or jointly, acquires control of a non-listed company or an issuer pursuant to paragraph (1) of Regulation 27, the AIFM managing such an AIF shall for a period of 24 months following the acquisition of control of the company by the AIF:

(a) not facilitate, support or instruct any distribution, capital reduction or share redemption or acquisition (or redemption and acquisition) of own shares by the company as described in paragraph (2);

(b) in so far as the AIFM is authorised to vote on behalf of the AIF at the meetings of the governing bodies of the company, not vote in favour of a distribution, capital reduction or share redemption (or redemption and acquisition) of own shares by the company as described in paragraph (2); and

(c) in any event use its best efforts to prevent distributions, capital reductions or share redemptions or acquisition (or redemption and acquisition) of own shares by the company as described in paragraph (2).

(2) The obligations im

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