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GR-5.4.3

Past version: Effective from 18 Jul 2025 to 30 Jun 2007
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Where a person has become a controller by virtue of his shareholding in contravention of Paragraph GR-5.1.3, or a notice of objection has been served to him under Paragraph GR-5.4.1 and the period of appeal has expired, the BMA may, by notice in writing served on the person concerned, direct that his shareholding shall, until further notice, be subject to all or any of the following restrictions:

(a) no voting right shall be exercisable in respect of those shares; and
(b) except in a liquidation, no payment shall be made of any sum due on the shares from the investment firm licensee, whether in respect of capital, dividend or otherwise.