Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 215

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 9
Chunk 215
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’ derivative suits);  

  defines applicable sanctions for violation of law;  

  provides for flexibility to allow regulated Mexican brokerage firms to engage in certain limited activities;  

  regulates stock exchanges, clearinghouses, futures and derivatives markets, and rating agencies;  
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  establishes penalties (including incarceration), arising from violations of the Securities Market Law and regulations thereunder;  

  establishes that public companies are considered a single economic unit with the entities they control;  

  introduces concepts such as consortiums, groups of related persons or entities, control, related parties and decision-making power;  

  defines rules relating to types of securities that may be offered by public companies;  
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  sets forth information for share repurchases; and  

  specifies requirements for implementing anti-takeover measures.  

In March 2003, the CNBV issued certain general regulations
applicable to issuers and other securities market participants, which regulations have since been amended (the “ General Regulations”),
and in September 2004, the CNBV issued certain general regulations applicable to brokerage firms. The General Regulations, which repealed
several previously enacted CNBV regulations, provide a consolidated set of rules governing public offerings, reporting requirements and
issuer activity, among other things.

Registration and Listing Standards

In order to offer securities to the public in Mexico, an issuer
must meet specific qualitative and quantitative requirements. Only securities that have been registered with the Mexican National Securities
Registry ( Registro Nacional de Valores) or the RNV, pursuant to an approval by the CNBV may be listed on the Mexican Stock Exchange.
In addition, the Mexican Stock Exchange has created a parallel quotation system, named the international quotation system (“ SIC”),
where debt and equity securities issued by non-Mexican issuers may be listed, for trading by institutional and accredited investors. Issuers
listed on the SIC have limited disclosure and reporting requirements and may comply with obligations through a sponsor and by providing
disclosure made available in their home market. These securities may be listed through the SIC if (i) the securities are not already
listed on the RNV, (ii) the market of origin of the company issuing the shares has received, based on its characteristics, recognition
from the CNBV, and (iii) the securities satisfy the listing requirements of the applicable stock exchange.

The