Document ID: chunk:federal_register_of_legislation:C2004A02585:schedule:1:p1
Version: federal_register_of_legislation:C2004A02585
Segment Type: schedule
Provision Reference: sch 1 (pt 1/24)
Character Range: 102918–105666

Schedule 1
128. Schedule 1 to the Principal Act is amended by omitting—
    "Marketable Securities Ordinance 1971"
and substituting—
    "Companies (Amendment) Ordinance (No. 2) 1980
    "Companies (Amendment) Ordinance 1981
    "Marketable Securities Ordinance 1971".
PART XVI—AMENDMENTS OF THE COMPANIES (ACQUISITION OF SHARES) ACT 1980

Principal Act
129. The Companies (Acquisition of Shares) Act 198014 is in this Part referred to as the Principal Act.

Provisions relating to acquisition and disposal of, and entitlement to, shares, and associated persons
130. Section 7 of the Principal Act is amended by inserting in paragraph (3) (b) "or under the provision of a law of a participating State or of a participating Territory that corresponds with that sub-section" after "sub-section (8)".

Miscellaneous provisions relating to orders
131. Section 49 of the Principal Act is amended by inserting after sub-section (2) the following sub-sections:
"(2a) Where an application is made to the Court for an order under section 45, 47, 48, 57 or 60, the Court may, if in the opinion of the Court it is desirable to do so, before considering the application, grant an interim order, being an order of the kind applied for that is expressed to have effect pending the determination of the application, and an interim order so made shall, for the purposes of sub-sections (3), (7) and (8) of this section, be taken to be an order under section 45, 47, 48, 57 or 60, as the case may be.
"(2b) Where the Commission makes an application to the Court for the making of an order under section 45, 47, 48, 57 or 60, the Court shall not require the Commission or any other person, as a condition of granting an interim order under sub-section (2a), to give any undertakings as to damages.".

Power of Commission to declare acquisition of shares or other conduct to be unacceptable
132. Section 60 of the Principal Act is amended—
    (a) by omitting from sub-sections (1), (3) and (4) "14 days" and substituting "90 days";
    (b) by omitting from sub-section (5) "that has been engaged in by a person to have been unacceptable conduct, the Court may, on the application of the Commission," and substituting ", being conduct that has been engaged in by a person in relation to shares in, or the affairs of, a company, to have been unacceptable conduct, the Court may, on the application of the Commission, the company or a member of the company,";
    (c) by omitting paragraph (7) (d) and substituting the following paragraph:
         "(d) the shareholders of a company did not all have reasonable and equal opportunities to participate in any benefits accruing, whether directly or indirectly and whether immediately or in the future, to any shareholder