ADVOKS GLOBAL · KENYA
The Capital Markets (Take-Overs and Mergers) Regulations
34. Establishment of take-over committee
Edition: 2022-12-31 · In force
34. Establishment of take-over committee
(1)The Authority may establish a sub-committee of the Board that shall consist of the Board members and such other qualified persons as shall be appointed by the Authority, for the purpose of advising on the take-over on a case by case basis.(2)Where a sub committee has been established under paragraph (1), the chief executive of the Nairobi Stock Exchange and the Commissioner of Monopolies and Prices appointed under the Restrictive Trade Practices, Monopolies and Price Control Act (Cap. 504) shall be invited to the sub committee meetings.(3)The sub committee in exercise of its delegated responsibility may invite the offeror, the offeree, the independent adviser or any other person whose input is deemed necessary for the purposes of facilitating the take-over.(4)The decision of the sub committee shall be subject to ratification by the Board.