Companies Act, 2008 (Act No. 71 of 2008)
Companies Regulations, 2011
Chapter 5 : Fundamental Transactions and Takeover Regulations
Part A : Interpretation and Application
82. Beneficial Interests
|(1)||A compliance obligation that—|
|(a)||falls upon a person who would be regarded as a holder of a beneficial interest in terms of the definition of "holder" in Section 117 (1)(e), read with the definition of "beneficial interest" in section 1; and|
|(b)||arises in terms of Part B and Part C of Chapter 5 of the Act, or this Chapter,|
applies equally to a nominee entity, asset manager or similar person who has authority, by any means, to exercise rights of disposal or rights of voting with respect to particular securities.
|(2)||No compliance obligation arises from an announced intention to acquire a beneficial interest in the remaining voting securities of a regulated company, as contemplated in Section 117 (1)(c)(v), until an offer is made for all of those securities.|
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Appropriation Act, 2011