| Commentary

199 General prohibition for public companies

| Commentary


199 General prohibition for public companies1

Where a person is acquiring or proposing to acquire shares in a public company, it is not lawful for that company or any of its subsidiaries to give financial assistance directly or indirectly for the purpose of the acquisition before or at the same time as the acquisition takes place2. ‘Financial assistance’ means financial assistance given by way of3:

  1. 199.1


  2. 199.2

        guarantee, security or indemnity (other than an indemnity in respect of the indemnifier’s own neglect or default) or release or waiver;

  3. 199.3

        loan or any other agreement under which any

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial