On 13 May 2011 the Capital Market Supervisory Board (the regulatory body now responsible for the Takeover Rules, instead of the Securities and Exchange Commission) issued its Notification no. TorJor. 12/2554 re: Rules, Conditions and Procedures for the Acquisition of Securities for Business Takeovers. This new Notification become effective on 1 June 2011.
The CMSB's new Notification amends the existing Takeover Rules but is understood to cover only some of the issues to be revised. A number of other issues raised at a public hearing held in 2010 are in process with the CMSB and expected to be covered later.
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Starting profile andrew_matthews"
Andrew Matthews
Partner
Environment, M&A Corporate, Real estate
+6624018822