The Companies Act No. 17 of 2015Section 567 of The Companies Act No. 17 of 2015: Extent of obligation in case of share acquisition agreement
(1) For the purposes of this Part each party to an agreement to which who is for the time being a party to an agreement to which section 566 applies is taken to have an interest in all shares of the target company in which any other party to the agreement is interested apart from the agreement (whether or not the interest of the other party was acquired, or includes any interest that was acquired, in accordance with the agreement).
(2) For the purposes of this Part, an interest of a party to such an agreement in shares of the target company is an interest apart from the agreement if the person holds an interest in those shares otherwise than because of the application of section 566 and this section in relation to the agreement.
(3) Consequently, any such interest of the person (apart from the agreement) includes for those purposes any interest that is taken to be that of the person under section 564 or 565 or by the application of section 566 and this section in relation to any other agreement with respect to shares of the target company to which the person is a party.
(4) A person who, being a person who is for the time being a party to an agreement to which section 566 applies, notifies the person's interest in shares of the target company to the company under this Part shall— (a) state that the person is a party to such an agreement;
(b) include the names and (so far as known to the person) the addresses of the other parties to the agreement, identifying them as such; and
(c) state whether or not any of the shares to which the notice relates are shares in which the person is interested because of section 566 (and this section) and, if so, the number of those shares.
Check the current authoritative text and amendment history before relying on this provision.
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