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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 20 May 2006 - onwards
Version 2 of 2

Regulation 19 Further consequences of opting in effect on certain decision making procedures

(1) This paragraph applies where -

(a) a bid is made for an opted-in company,

(b) the offeror requires, by requisition under section 132 of the Companies Act 1963, the directors of the company to convene an extraordinary general meeting of the company, and

(c) the offeror holds, at the date of the requisition, securities in the company amounting to not less than 75% in nominal value of all the securities in the company.

(2) Where paragraph (1) applies, section 132 of the Companies Act 1963 shall, in relation to the requisition referred to in that paragraph, apply as if, in subsection (3), "one month" were substituted for "two months".

(3) This paragraph applies where -

(a) a bid is made for an opted-in company,

(b) a general meeting of the company is held after the end of the offer period (being the first such meeting so held), and

(c) the offeror, at the time the meeting is held, holds securities in the company amounting to not less than 75% in nominal value of all the securities in the company.