On 3 March 2022, AST GVT registered 27th compilation of the Foreign acquisitions and takeovers act 1975, showing text of the law as amended and in force on 23 February 2022. Includes changes made by the corporate collective investment vehicle framework and other measures act 2022 and lists unincorporated changes.
Read more
France – ACPR Takeover Applications
In December, ACPR issued 3 instructions regarding requests/reporting re takeovers and holdings by banks, investment, financing firms. These changes were entered into the ACPR Official Register on 1 February. Instructions Instruction 2021-I-18 relating to requests for takeover or qualifying holdings by credit institutions, requires submission of complete application file using form in the annex. Form…
Read more
E.U. – Nasdaq Nordic Takeover Rules Breach
On 21 January 2022, Nasdaq Nordic fined LSTH Svenska Handelsfastigheter AB. Nasdaq Nordic disciplinary committee fined LSTH Svenska Handelsfastigheter AB SEK 1,500,000 for breaching rule book for issuers of fixed income instruments. Summary Swedish Securities Council ruling 2021:43 found it violated item II.3 of the takeover rules for certain trading platforms issued by the Swedish…
Read more
Australia – GVT Foreign Acquisition/Takeovers
On 4 January 2022, AST GVT registered legislative instrument compilation no. 12 of the Foreign acquisitions and takeovers regulation 2015 amended, in force on 8 December 2021. The regulations are due to sunset on 1 April 2026.
Read more
U.K. – Parliament National Security and Investment Act Effective
On 4 January 2022, the National Security and Investment Act came into force in the U.K. Background: UK GVT issued National Security and Investment act 2021 (commencement no. 2 and transitional and saving provision) regulations 2021, commenced act from 4 January 2022. Follows UKP April 2021 issued act about National Security and Investment. Also follows…
Read more
Ireland – Takeover Panel Issues Consultation Paper
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…
Read more