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GEN 2.3.3

A Person does not carry on an activity specified under paragraphs (d), (e), (f), (h), or (y) of GEN Rule 2.2.2 by way of business if the activity is carried on solely for the purposes of or in connection with the acquisition or disposal of Shares in a Body Corporate, other than an Investment Company or Investment Partnership, provided that:

(a) such Shares carry at least 50% of the voting rights or the acquisition will take an existing holding to at least 50%; or
(b) the object of the transaction may reasonably be regarded as being the acquisition of day to day control of the Body Corporate; and
(c) he is to enter as principal into the transaction.
Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
Amended in accordance with Notice of Amendments to Legislation April 2011 [VER27/02-11]
[Amended] DFSA RM155/2015 (Made 9th December 2015) [VER35/02-16]
[Amended] DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]