On 21 December 2021, the Irish Takeover Panel published a consultation on proposals to amend its Takeover Rules and Substantial Acquisition Rules. Background: Update both the Rules and SARs to account for developments in takeover practice and changes in legislation. Considers amendments that have been made in the UK to its Takeover Code in recent…
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U.K. – Gov’t Updated National Security and Investment Act
On 17 December 2021, UK GVT updated National security and investment act guidance. Added NSI notification service forms to provide details of the information required when submitting a notification; the service goes live on 4 January 2022.
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Malaysia – Short Selling ‘At-Tick’ Rule Applies
On 17 December 2021, MLY SCM, BML informed that the temporary suspension on IDSS and PDT short selling will be lifted on 1 January 2022, after suspension expires on 31 December 2021. IDSS and PDT short selling will resume with enhanced control measures to ensure stability and orderly trading; orders must be entered in accordance…
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Australia – GVT Foreign Acquisition/Takeover
On 15 December 2021, AST GVT registered foreign acquisitions act compilation. AST GVT issued 26th compilation of the Foreign acquisitions and takeovers act 1975, registered 15 December 2021, showing text of law as amended, in force on 8 December 2021. Overview An act relating to the foreign acquisition of certain land interests and to the…
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Portugal – ASF Qualified Holdings Form
On 14 December 2021, POR ASF issued forms for controlling qualifying holdings. POR ASF issued forms for the notification of controlling qualifying holdings in insurance brokers or reinsurance intermediaries in accordance with art 65 of norm 13/2020-R. Forms created for purposes of prior notice of acquisition/increase in qualifying holding. Follows POR ASF April 2021 rules…
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Rulefinder – Alerts to Temporary Short Selling Ban Effective
On 16 December 2021, Rulefinder identified a temporary short selling ban in an issuer on the Korean markets. The temporary short selling ban is effective 17 December for one trading day.
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