Chapter 5: Fundamental Transactions and Takeover Regulations
Part D: Duties and conduct of offeree and directors

R112: Acquisition of own securities by offeree

During an offer period, an offeree regulated company and its subsidiary companies may not acquire the offeree regulated company's own securities without:
  • (a) the prior written approval of the Panel, and the approval of the holders of relevant securities; or
    • (b) in terms of a pre-existing obligation or agreement entered into before the time contemplated in section 126 (1).

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