Entire Section

  • TKO 17 TKO 17 Enforcement

    • TKO 17.1 TKO 17.1 Applicable provisions

      • TKO 17.1 Guidance

        1. The Takeover Rules (including the Takeover Principles in TKO Section 1.5) have the force of law. A failure to comply with a rule may constitute a contravention by virtue of Article 85 of the Regulatory Law 2004. Those that seek to take advantage of the facilities of the Securities markets in the DIFC should conduct themselves in matters relating to Takeovers not only in accordance with the Takeover Rules but also in accordance with the highest business standards.
        2. Part 6 of the Markets Law 2012 addresses prevention of market misconduct, and Part 7 addresses contraventions and proceedings. Article 68 of the Markets Law 2012 provides that the DFSA may apply to the Court to obtain an order or orders against a Person who has contravened the Markets Law 2012 or the Rules. These include, by Article 68(1)(e), orders in relation to activities relating to Takeovers. Under Article 70(2), the FMT also has jurisdiction to make a finding or declaration of unacceptable circumstances and additional orders as it sees fit.
        Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]
        [Amended] DFSA RM87/2012 (Made 14th June 2012). [VER5/06-12]
        [Amended] DFSA RM142/2014 (Made 21st August 2014). [VER6/06-14]