Document ID: chunk:federal_register_of_legislation:C2004A03309:body:0:p4
Version: federal_register_of_legislation:C2004A03309
Segment Type: other
Provision Reference: 
Character Range: 7631–10295

those provisions as in force immediately before the relevant commencement, apply,
in relation to—
(c) an offer to which the Part A statement relates;
(d) a contract resulting from the acceptance of an offer to which the Part A statement relates; or
(e) the take-over scheme under which the offers to which the Part A statement relates were or are made.
"(2ad) Where—
(a) a take-over offer (in this sub-section referred to as the 'relevant offer') relating to shares included in a class of shares in a company has been made (whether before, at or after the relevant commencement) under a take-over scheme;
(b) by virtue of sub-section (2ac), the provisions referred to in paragraph (2ac) (b), being those provisions as in force as mentioned in that paragraph, apply in relation to the relevant offer;
(c) but for this sub-section, the take-over offers made under the take-over scheme would be taken to have been made in accordance with sub-paragraph (2) (a) (i);
(d) the number (in this sub-section referred to as the 'first relevant number') specified, in accordance with sub-paragraph (2) (f) (iii), in the relevant offer (or, if that number is expressed as a percentage, the number (in this sub-section also referred to as the 'first relevant number') of shares represented by that percentage) is less than the total number (in this sub-section referred to as the 'second relevant

number') of shares (other than shares to which the offeror was entitled at the time when the first take-over offer was made under the take-over scheme) included in that class; and
(e) in a case where the relevant offer was made before the relevant commencement—as at the relevant commencement, the period during which the relevant offer remains open has not ended,
then—
(f) the take-over offers made under the take-over scheme shall be deemed not to have been made in accordance with sub-paragraph (2) (a) (i) and to have been made in accordance with sub-paragraph (2) (a) (ii);
(g) the relevant offer shall be deemed always to have related to, to relate to, and, if the relevant offer has been or is accepted, to have been or to be accepted in relation to, a proportion of the shares to which the relevant offer would, but for this sub-section and section 26, relate, being the proportion that the first relevant number bears to the second relevant number; and
(h) in a case where paragraph (e) applies and the period during which the relevant offer remains open would, but for this paragraph, end before the end of the period of 7 days commencing at the relevant commencement—the period during which the relevant offer remains open shall, except for the purposes of sub-section