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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XV REGULATION OF TRADE
  • CHAPTER 110C REGULATION OF TAKE-OVER BIDS IN THE ACQUISITION OF CORPORATIONS
  • Section 12 Exemptions from chapter

Section 12. This chapter does not apply when:—

(a) The offeror or the target company is a public utility or a public utility holding company as defined in section two of the “Public Utility Holding Company Act of 1935”, 15 U.S.C. 79, as amended, and the take-over bid is subject to approval by the appropriate federal agency as provided in such act;

(b) The offeror or the target company is a bank or a bank holding company subject to the “Bank Holding Company Act of 1956”, 12 U.S.C. 1841, as amended, and the take-over bid is subject to approval by the appropriate federal agency as provided in such act;

(c) The offeror or the target company is a savings and loan holding company as defined in section two of the “Savings and Loan Holding Company Amendments of 1967”, 12 U.S.C. 1730A, as amended, and the take-over bid is subject to approval by the appropriate federal agency as provided in such act;

(d) The offeror and the target company are banks and the offer is part of a merger transaction subject to approval by appropriate federal supervisory authorities.