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Version status: Ceased | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2014 - onwards
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7. Proposed direction orders.

Ceased from 31 December 2014

(1) Subject to subsections (2) and (4), the Minister may make a proposed direction order proposing that a relevant institution be directed to take (within a specified period) or refrain from taking (during a specified period) any action, or any series of actions that are together designed to achieve a specified objective, including, in particular, and without limiting the generality of the foregoing, any one or more of the following:

(a) notwithstanding any statutory or contractual pre-emption rights, the listing rules of a regulated market or the rules of any other market on which the shares of the relevant institution may be traded from time to time, issuing shares to the Minister or to another person nominated by the Minister on terms and conditions that the Minister specifies in the proposed direction order at a consideration that the Minister sets;

(b) applying for the de-listing of the relevant institution's shares, or the suspension of their listing, on a regulated market,

Comparing proposed amendment...