Article 72 Of Chapter 7
Section: Acquisitions and Protection ofMinority Interests
The Person, wishing to submit an acquisition offer, shall submit copies of the offer documents, along with the relevant information to the Authority, Securities Exchange, and the Issuer of the Securities subject to the acquisition offer. The offeror shall obtain the Authority’s approval before taking any further steps in the acquisition process. The Authority shall, within a maximum period of ten days, review the application and offer documents and issue its approval. It shall refrain to issue its approvals in the following situations:
1 - The offer does not comply with the provisions of this Law and its Executive Bylaws.
2 - The application fees are not included in the offer.
3 - The offeror fails to submit the necessary documents in accordance with the provisions of this Law and its Bylaws.
4 - The offer includes incorrect or incomplete statement, which shall have an influence on the decision of the shareholders of the company.