(1) The following provisions have effect where a takeover bid is made for an opted-in company.
(2) An agreement to which this section applies is invalid in so far as it places any restriction -
(a) on the transfer to the offeror, or at his direction to another person, of shares in the company during the offer period;
(b) on the transfer to any person of shares in the company at a time during the offer period when the offeror holds shares amounting to not less than 75% in value of all the voting shares in the company;
(c) on rights to vote at a general meeting of the company that decides whether to take any action which might result in the frustration of the bid;
(d) on rights to vote at a general meeting of the company that -
(i) is the first such meeting to be held after the end of the offer period, and
(ii) is held at a time when the offeror holds shares amounting to not less than 75% in value of all the voting shares in the company.
(3) This section applies to an agreement -
(a) ent
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