Chapter Nine Regulation of Proxy Solicitations, Restricted Purchase and Restricted Offer for Shares - Article Fifty Three

​The Authority’s powers to issue rules for the regulation of restricted purchases of shares and restricted offers for shares shall include, without limitation, the power to issue rules in connection with the following:

a. Amending the percentages prescribed under Article 52 of this Law and approving exceptions to the definitions of restricted purchases of shares and restricted offers for shares;

b. Specifying the timing, form and manner for announcements in connection with restricted purchases of shares and restricted offers for shares;

c. Setting forth the information which party purchasing the shares or offering party must disclose, and the manner for its disclosure, including any requirements for the continuous disclosure with respect to changes in share ownership;

d. Imposing any conditions or requirements on the company the shares of which are subject or target of a restricted purchase of shares or a restricted offer for shares that it announces its position or viewpoint regarding such restricted purchase or restricted offer;

e. Any other rules pertaining to restricted purchases of shares or restricted offers for shares as may be necessary for the safety of the market and the protection of investors.

Chapter Nine Regulation of Proxy Solicitations, Restricted Purchase and Restricted Offer for Shares