Document ID: chunk:federal_register_of_legislation:C2004A02380:body:0:p4
Version: federal_register_of_legislation:C2004A02380
Segment Type: other
Provision Reference: 
Character Range: 7437–10047

cash sum in lieu of the consideration that was specified in that other offer; and
     (c) if the consideration under the contract referred to in paragraph (a) was received by the person who accepted that other offer before he received the notice from the offeror under paragraph (b) and that person gives notice to the offeror in accordance with this sub-section electing to accept the cash sum in lieu of the consideration that was specified in that other offer—that person shall return the consideration (together with any necessary documents of transfer) with the notice of election and is entitled, upon receipt of the consideration by the offeror, to receive the cash sum.

"(8) An offeror may vary an offer under a take-over scheme—
     (a) in the case of an offer that is subject to a prescribed condition— before the publication of a notice pursuant to sub-section 28 (4) in relation to offers under the take-over scheme; or
     (b) in the case of an offer to which paragraph (a) does not apply—before the expiration of the period during which the offer remains open,
by extending the period during which the offer remains open for a further period but, subject to sub-section (11), so that the total period during which the offer remains open does not exceed 12 months.

"(9) The references in sub-section (8) to the period during which an offer remains open shall, if that period has been extended pursuant to the previous exercise on one or more occasions of the power conferred by that sub-section, be construed as references to the period as so extended.

"(10) Variations of offers under a take-over scheme shall be made by—
     (a) serving 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 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
     (b) dispatching in a manner approved by the Commission to each person to whom such an offer was made (including a person who has accepted an offer) a copy of that notice.

"(11) Where an offeror purports, in accordance with sub-section (8), to vary an offer under a take-over scheme that is open for a period not exceeding 6 months so that the total period during which the offer would remain open exceeds 6 months, the offeror shall, within the period of one month commencing 5 months after the date that the offer bears—
     (a) serve on the target company a notice—
         (i) signed in the same manner as a Part A statement