TKO 1.4.1 Guidance

The DFSA will presume (without limiting the general application of the definition in the Markets Law 2012) that the following Persons will be "acting in concert" with other Persons in the same category unless the contrary is established:

a. any of the following with each other: a company, its parent, subsidiaries and fellow subsidiaries, and their associated companies, and companies of which such companies are associated companies, (for this purpose ownership or control of 20% or more of the equity Share capital of a company is regarded as the test of associated company status);
b. a company with any of its Directors (together with their close relatives and related trusts);
c. a company with any of its pension funds;
d. an investment manager with any investment company, unit trust, or other Person whose investments such investment manager manages on a discretionary basis, in respect of relevant investment accounts;
e. a financial or other professional adviser (including a stockbroker) with its client in respect of the Shareholdings of the adviser and Persons controlling, controlled by or under the same control as the adviser; and
f. Directors of a Reporting Entity which is subject to a Bid or where the Directors have reason to believe a bona fide Bid for their Reporting Entity may be imminent.

Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]
[Amended] DFSA RM87/2012 (Made 14th June 2012). [VER5/06-12]