Regulatory Alerts2017-07-19
Added · Updated
Umbrella DNO for Banks
Banks may apply for an umbrella declaration of no-objection to cover all indirect holdings acquired or to be acquired through a company or subsidiary. This mechanism applies specifically to banks acquiring or expanding a qualifying holding in a target company under Section 3:96 of the Wft. The umbrella declaration covers both the qualifying holding the bank wishes to acquire and the qualifying holdings that the target company already has or intends to acquire.
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