32. Further provision about notices given under section 27

Past version: effective from 21/10/2015 - 20/10/2015
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(1) A notice under section 31 must be given in the prescribed manner.
(2) No notice may be given under section 31 or (4) after the end of the period of three months beginning with the day after the last day on which the offer can be accepted.
(3) At the time when the bidder first gives a notice under section 31 in relation to an offer, the bidder must send to the company —
(a) a copy of the notice, and
(b) a statutory declaration by him in the prescribed form, stating that the conditions for the giving of the notice are satisfied.
(4) Where the bidder is a company (whether or not a company within the meaning of these Regulations) the statutory declaration must be signed by a director.
(5) A person contravenes these Regulations if —
(a) he fails to send a copy of a notice or a statutory declaration as required by subsection (3), or
(b) he makes such a declaration for the purposes of that subsection knowing it to be false or without having reasonable grounds for believing it to be true.
(6) It is a defence for a person alleged to have contravened these Regulations by failing to send a copy of a notice as required by subsection (3) to prove that he took reasonable steps for securing compliance with that subsection.
(7) A person who contravenes this section shall be liable to a fine of such amount the Panel considers appropriate. A penalty may not be imposed on any person under these Regulations in excess of the maximum amount that may be imposed under the ADGM Founding Law.