TMA-3.3.11
Past version: Effective from 01 Jan 2009 to 31 Mar 2013
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Except with the consent of the CBB, an offer must not be announced subject to a pre-condition unless the pre-condition involves:
(a) a material official authorization; or
(b) a regulatory clearance; and
(c) the offer is publicly recommended by the board of the offeree company; or
(d) the CBB is satisfied that it is likely to prove impossible to obtain the authorisation or clearance within the timetable.
The CBB must be consulted in advance if a person proposes to include a pre-condition to which the posting of the offer will be subject.