Document ID: chunk:federal_register_of_legislation:C2004A03231:body:0:p13
Version: federal_register_of_legislation:C2004A03231
Segment Type: other
Provision Reference: 
Character Range: 32198–35000

specified in a consent under section 21 given in relation to an offer made under the take-over scheme.";
     (b) by omitting sub-section (10) and substituting the following sub-section:
         "(10) Variations of offers under a take-over scheme shall be made by—
         (a) serving on the target company a notice in writing—
             (i) signed in the same manner as a Part A statement is required by paragraph 16 (2) (d) to be signed;
             (ii) setting out the terms of the proposed variation and particulars of such modifications of the relevant Part A statement as are necessary having regard to the variation; and
             (iii) in a case where the effect of the proposed variation will be to postpone for a period exceeding one month the time when the offeror's obligations under the take-over scheme are to be satisfied—stating the effect of the provisions of sub-section (12) of this section; and

         (b) dispatching in an approved manner to each person to whom an offer was made under the take-over scheme (including a person who has accepted an offer so made) a copy of that notice.";
     (c) by omitting paragraph (11) (a) and substituting the following paragraph:
         "(a) serve on the target company a notice in writing signed in the same manner as a Part A statement is required by paragraph 16 (2) (d) to be signed and setting out any information that the offeror would have been required to include in the relevant Part A statement if the statement had been lodged with the Commission for registration 5 months after the date that the offer bears, being information that differs from the information included in that relevant Part A statement;";
     (d) by omitting from paragraph (11) (b) "a manner approved by the Commission" and substituting "an approved manner"; and
     (e) by omitting from sub-section (12) "relating to the offer dispatched pursuant to sub-section (11)," and substituting "under sub-section (10) in relation to a variation of offers under the relevant take-over scheme, being a variation the effect of which is to postpone for a period exceeding one month the time when the offeror's obligations under the take-over scheme are to be satisfied,".

Declaration where take-over offers are conditional
16. Section 28 of the Principal Act is amended by omitting sub-section (9) and substituting the following sub-section:
"(9) Where—
     (a) offers made under a take-over scheme have at any time been subject to a prescribed condition; and
     (b) as at the time immediately after the end of the period during which the offers remained open—
         (i) the offeror has not declared the offers to be free from the condition;
         (ii) the offers have not become free from the condition by virtue of the operation of sub-section