Companies (Amendment) Act, 1999
|
Disclosure of interests in relevant share capital. |
3.—(1) The acquisition or disposal of interests in relevant share capital by a person during the stabilising period concerned, which— | |
(a) is done for the purpose of stabilising or maintaining the market price of securities, and | ||
(b) is so done either in conformity with the Stabilisation Rules or is an acquisition or disposal to which section 2 (b) relates, | ||
shall be disregarded during the stabilising period for the purposes of sections 67 to 79 of the Act of 1990. | ||
(2) Any interest in relevant share capital which— | ||
(a) was acquired by a person during the stabilising period for the purpose of stabilising or maintaining the market price of securities, | ||
(b) was so acquired in accordance with this Act, and | ||
(c) continues to be held by such person at the end of the stabilising period, | ||
shall be treated, for the purposes of sections 67 to 79 of the Act of 1990, as having been acquired by such person on the first day following the end of the stabilising period that is not a Saturday, Sunday or public holiday. | ||
(3) Notwithstanding subsection (1), subsection (4) of section 91 of the Act of 1990 shall operate to determine the interests which are to be notified to the Irish Stock Exchange Limited, and the manner in which they are to be so notified, under subsection (2) of that section. | ||
(4) In this section “relevant share capital” has the meaning assigned by section 67(2) of the Act of 1990. |