【法规名称】
【法规编号】 82409 什么是编号？
【正 文】
第4页 CAP 571W SECURITIES AND FUTURES (PRICE STABILIZING) RULES
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[接上页] (c) the terms of conversion, purchase or subscription have not yet been the subject of a public announcement.(3) The stabilizing manager shall not take any stabilizing action in respect of any relevant securities in any case where- (a) it or an associate of its has, in connection with the offer relating to the relevant securities, an option or other right to purchase or subscribe for the relevant securities from the offeror; and (b) that option or right may be exercised or relied on after the first public announcement date and during or after the stabilizing period,unless the existence and principal terms of the option or right have been disclosed in the relevant offer document. Cap 571W s 11 Limits on pricing in stabilizing action (1) Subject to subsection (2), the stabilizing manager shall not, in the course of any primary stabilizing action taken in respect of any relevant securities, make any bid or effect any transaction in relation to the relevant securities at a price exceeding, where the bid or transaction is made or effected at a time or in the circumstances specified in column 2 of Schedule 2, the price specified in column 3 of that Schedule opposite the time or circumstances so specified. (2) The prohibition in subsection (1) does not apply to any stabilizing action taken in respect of debt securities. Cap 571W s 12 Management of stabilization (1) The stabilizing manager shall ensure that, in relation to any stabilizing action taken or to be taken by it- (a) the disclosure requirements specified in sections 8 and 9 are complied with; (b) where the recognized exchange company operating the recognized stock market or the operator of the overseas stock market on which the relevant securities are or will be traded, or the person authorized to provide the relevant authorized automated trading services by means of which the relevant securities are or will be traded, requires to be informed of any stabilizing action that may take place in respect of the relevant securities during the stabilizing period, the requirement has been complied with; and (c) any person appointed by the stabilizing manager to act as its agent for the purpose of making any bid or effecting any transaction in the course of the stabilizing action complies with the applicable requirements of these Rules.(2) No bid may be made or transaction effected in the course of any stabilizing action unless the stabilizing manager- (a) has established the register required in section 13; and (b) is in compliance with the registration requirements in section 13 in respect of all earlier transactions effected in the course of stabilizing action in connection with the relevant offer.(3) Subject to subsection (4), no bid may be made or transaction effected in the course of any stabilizing action in respect of any relevant offer except by the stabilizing manager appointed in respect of the relevant offer. (4) The stabilizing manager may appoint a person to act as its agent for the purpose of making any bid or effecting any transaction in the course of any stabilizing action on terms which- (a) make the agent responsible to the stabilizing manager; and (b) make the stabilizing manager responsible to others for the conduct of the agent as if the conduct were committed by the stabilizing manager.(5) Subject to subsection (6), during the stabilizing period for any relevant offer, the stabilizing manager shall not as principal enter into any dealing in any relevant securities to which the stabilizing action relates with any agent it has appointed under subsection (4) to act on its behalf in respect of such stabilizing action. (6) Subsection (5) does not apply if, at the time of the transaction, neither the stabilizing manager nor the agent concerned knew or ought reasonably to have known the identity of the counterparty. (7) For the purposes of subsection (5), "dealing" (交易) does not include the giving of any instruction by the stabilizing manager as principal to its agent appointed under subsection (4) to make any bid or effect any transaction in any relevant securities in the course of any stabilizing action. Cap 571W s 13 Record keeping for stabilizing actions taken PART 4 REGISTER OF STABILIZING ACTIONS (1) The stabilizing manager shall establish and keep a register in respect of each offer of relevant securities to which these Rules apply under section 3. (2) The stabilizing manager shall ensure that the register referred to in subsection (1) contains, and is updated immediately or on a daily basis (from business day to business day)- (a) the names of all agents appointed under section 12 and details of the terms of the appointment of each; (b) the general parameters (including the initial stabilizing price) laid down by the stabilizing manager for each of the agents and the date and time of their communication, variation or revocation; (c) details of each transaction effected in the course of the stabilizing action in question including- |
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