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Number 8 of 1999
COMPANIES (AMENDMENT) ACT, 1999
ARRANGEMENT OF SECTIONS
Section | |
1. | |
2. | |
3. | |
4. | |
5. | |
6. | |
7. | Short title, collective citation, construction and commencement. |
Stabilisation Rules
Acts Referred to | ||
Companies Act, 1963 | 1963, No. 33 | |
Companies Act, 1990 | 1990, No. 33 | |
Number 8 of 1999
COMPANIES (AMENDMENT) ACT, 1999
Interpretation.
1.—(1) In this Act—
“the Act of 1990” means the Companies Act, 1990;
“closing date” has the meaning assigned by the Stabilisation Rules;
“the Principal Act” means the Companies Act, 1963;
“stabilising period” has, in relation to anything done in the State pursuant to the Stabilisation Rules, the meaning assigned by the Stabilisation Rules and, in relation to anything done in a jurisdiction outside the State for the purpose of stabilising or maintaining the market price of securities, means the period beginning on—
(a) in the case of an issue or offer for sale of securities (not being an issue of debentures or other debt securities), the date on which the earliest public announcement of such issue or offer is made which states the issue price or the offer price, as the case may be, for those securities, or
(b) in the case of an issue of debentures or other debt securities, the date on which the earliest public announcement of such issue is made, whether or not that announcement states the issue price,
and ending on the expiration of—
(i) the day which is 30 days after the closing date, or
(ii) the day which a manager appointed by the issuer or, as the case may be, the offeror to conduct stabilising activity shall have notified a stock exchange on which stabilising activity was being conducted as the day on which it determined that it would take no further action to stabilise or maintain the market price of the securities concerned,
whichever first occurs;
“Stabilisation Rules” means the rules referred to by that name which are set out in the Schedule.
(2) In this Act—
(a) a reference to a Part, section or Schedule is a reference to a Part or section of, or a Schedule to, this Act, unless it is indicated that reference to some other enactment is intended,
(b) a reference to a subsection, paragraph, subparagraph, clause or subclause is a reference to the subsection, paragraph, subparagraph, clause or subclause of the provision in which the reference occurs unless it is indicated that reference to some other provision is intended, and
(c) a reference to any enactment is a reference to that enactment as amended, extended or adapted by or under any subsequent enactment including this Act.
Restriction of section 108 of Act of 1990.
2.—Section 108 of the Act of 1990 shall not be regarded as having been contravened by reason of—
(a) anything done in the State for the purpose of stabilising or maintaining the market price of securities if it is done in conformity with the Stabilisation Rules, or
(b) any action taken during the stabilising period by a person in any jurisdiction other than the State for the purpose of stabilising or maintaining the market price of securities, but only if the action taken is, in all material respects, permitted by or is otherwise in accordance with all relevant requirements applicable to such actions in the jurisdiction where such action is effected, including, if those securities are also listed on a stock exchange in that jurisdiction, the rules or other regulatory requirements governing that stock exchange.
Disclosure of interests in relevant share capital.
3.—(1) The acquisition or disposal of interests in relevant share capital by a person during the stabilising period concerned, which—
(a) is done for the purpose of stabilising or maintaining the market price of securities, and
(b) is so done either in conformity with the Stabilisation Rules or is an acquisition or disposal to which section 2(b) relates,
shall be disregarded during the stabilising period for the purposes of sections 67 to 79 of the Act of 1990.
(2) Any interest in relevant share capital which—
(a) was acquired by a person during the stabilising period for the purpose of stabilising or maintaining the market price of securities,
(b) was so acquired in accordance with this Act, and
(c) continues to be held by such person at the end of the stabilising period,
shall be treated, for the purposes of sections 67 to 79 of the Act of 1990, as having been acquired by such person on the first day following the end of the stabilising period that is not a Saturday, Sunday or public holiday.
(3) Notwithstanding subsection (1), subsection (4) of section 91 of the Act of 1990 shall operate to determine the interests which are to be notified to the Irish Stock Exchange Limited, and the manner in which they are to be so notified, under subsection (2) of that section.
(4) In this section “relevant share capital” has the meaning assigned by section 67(2) of the Act of 1990.
Amendment of section 110 of Act of 1990.
4.—Section 110 of the Act of 1990 is hereby amended by the insertion of the following after subsection (2):
“(2A) A person shall be regarded as having entered in good faith into a transaction to which subsection (2)(b) relates, if such person enters in good faith into—
(a) negotiations with a view to entering an agreement to which paragraph (b) or (c) would relate, or
(b) an agreement to underwrite securities, or
(c) an agreement, in advance of dealing facilities being provided by a recognised stock exchange for securities, to acquire or subscribe for a specified number of those securities, or
(d) a transaction in accordance with such person's obligations under an agreement to which paragraph (b) or (c) relates.”.
Removal of difficulties.
5.—(1) Where, in any respect, any difficulty arises in the operation of any provision of the Stabilisation Rules, the Minister for Enterprise, Trade and Employment may by regulations amend the Stabilisation Rules to do anything which appears to him or her to be necessary or expedient for removing that difficulty, and any such regulations may modify any provision of the Stabilisation Rules or add thereto so far as may be necessary or expedient for carrying the Schedule into effect.
(2) Every regulation made under this section shall be laid before each House of the Oireachtas as soon as may be after it is made and if a resolution annulling the regulation is passed by either such House within the next 21 days on which that House has sat after the regulation is laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.
Revocations
6.—The Companies Act, 1990 (Insider Dealing) Regulations, 1991 (S.I. No. 151 of 1991), and the Companies Act, 1990 (Insider Dealing) Regulations, 1992 (S.I. No. 131 of 1992), are hereby revoked.
Short title, collective citation, construction and commencement.
7.—(1) This Act may be cited as the Companies (Amendment) Act, 1999.
(2) This Act and the Companies Acts, 1963 to 1990, may be cited together as the Companies Acts, 1963 to 1999, and shall be construed together as one.
(3) This Act shall come into operation on such day or days as may be appointed by order or orders made by the Minister for Enterprise, Trade and Employment, either generally or with reference to any particular purpose or provision, and different days may be so appointed for different purposes and different provisions of this Act.
SCHEDULE
Stabilisation Rules
Definitions.
1. In these Rules—
“associated securities” means securities—
(a) which are in all respects uniform with the relevant securities, or
(b) for which the relevant securities may be exchanged or into which they may be converted, or
(c) which the holders of the relevant securities have, by virtue of their holdings of those securities, rights to acquire or to subscribe for, or
(d) which are depository receipts which represent or confer property rights in respect of relevant securities or securities to which paragraph (a), (b), (c) or (f) relates or which represent or confer a contractual right (other than an option) to acquire such securities otherwise than by subscription; or
(e) which represent or confer any right, option or obligation in respect of an index relating to relevant securities or to securities to which paragraph (a), (b), (c) or (d) relates, or
(f) which represent or confer a right to acquire a particular amount of relevant securities or of any securities to which paragraph (a), (b), (c), (d) or (e) relates at a future date at a particular price (“associated call options”) or which otherwise represent or confer any right, option or obligation in respect of such securities;
“closing date” means—
(a) in the case of an issue of securities, the date on which the issuer of the securities receives the proceeds of the issue or, where the issuer receives those proceeds in instalments, the date on which it receives the first instalment; and
(b) in the case of an offer for sale of securities, the date on which the offeror or, as the case may be, the offerors receive the proceeds of the offer for sale, or where the offeror or, as the case may be, the offerors receives those proceeds in instalments, the date on which the offeror or, where there is more than one offeror, one or more of the offerors receives the first instalment;
“introductory period” means the period starting at the time of the first public announcement from which it could reasonably be deducted that the issue was intended to take place in some form and at some time, and ending with the beginning of the stabilising period;
“issue”, except in the definitions of “closing date” and “stabilising period” and in Rule 2, includes offer for sale and “issued” shall be construed accordingly;
“issue price” means the specified price at which the relevant securities are issued without deducting any selling concession or commission;
“issuer”, except in the definition of “closing date”, includes offeror;
“manager” means the person instructed by the issuer of the securities to manage the issue;
“public announcement” means any communication made by or on behalf of the issuer or the manager, being a communication made in circumstances in which it is likely that members of the public will become aware of the communication;
“recognised stock exchange” has the meaning assigned by section 107 of the Companies Act, 1990;
“the Register” has the meaning assigned by Rule 5(1)(d);
“relevant day” means—
(a) the 30th day after the closing date or,
(b) where before the 30th day after the closing date the stabilising manager has determined that he or she would take no further action to stabilise or maintain the market price of the relevant securities and has notified the Irish Stock Exchange Limited accordingly pursuant to Rule 8; the day he or she so determined;
“relevant securities” has the meaning given by Rule 2;
“securities” has the meaning assigned by section 107 of the Companies Act, 1990;
“stabilising action” means a purchase of, or agreement to purchase or offer to purchase relevant securities or associated securities permitted to be made by Rule 3;
“stabilising manager” means the person who is manager or, if there be more than one manager, such one of the managers as shall have been agreed between them to be the one to conduct stabilising action in the State in relation to the issue of the relevant securities;
“stabilising period” means the period beginning with the date on which the earliest public announcement of the issue or offer for sale which states the issue price or offer price, as the case may be, is made and ending with the relevant day, save that, in relation to an issue of relevant securities which are debentures or other debt securities, the stabilising period means the period beginning with the date on which the earliest public announcement of the issue is made (whether or not that announcement states the issue price) and ending with the relevant day;
“takeover offer” means an offer made generally to holders of shares in a company to acquire those shares or a specified proportion of them, or to holders of a particular class of those shares to acquire the shares of that class or a specified proportion of them.
Application.
2. These Rules apply to—
(a) an issue of securities for cash,
(b) an offer of securities for cash for which securities dealing facilities are not already provided by a recognised stock exchange, and
(c) an offer of securities for cash for which securities dealing facilities are already provided by a recognised stock exchange, if the total cost of the securities which are the subject of the offer is at least £15,000,000 (or the equivalent in the currency or unit of account in which the price of the securities is stated),
and which is made other than in connection with a takeover offer and at a specified price and which securities may be dealt in on a recognised stock exchange without a formal application, or in respect of which application has been made to a recognised stock exchange for the securities to be dealt in on that exchange, and such securities are in these Rules referred to as “relevant securities”.
Permitted stabilising action.
3. (1) Subject to paragraph (2) and Rules 6 and 7, the stabilising manager may during the stabilising period do any or all of the following, with a view to stabilising or maintaining the market price of the relevant securities:
(a) purchase, agree to purchase or offer to purchase any of the relevant securities, and
(b) purchase, agree to purchase or offer to purchase any associated securities.
(2) A stabilising manager may effect a stabilising action pursuant to paragraph (1) only if the stabilising manager reasonably believes that the conditions specified in Rule 5 have been fulfilled.
(3) A stabilising manager who effects a stabilising action pursuant to paragraph (1) shall comply with Rule 9.
Permitted action ancillary to stabilising action.
4. (1) Subject to paragraph (2) and Rule 6, the stabilising manager may—
(a) with a view to effecting stabilising actions, either or both—
(i) make allocations of a greater number of relevant securities than will be issued, and
(ii) sell, offer to sell, or agree to sell a greater number of relevant securities or associated securities than the stabilising manager has available for sale,
(b) sell, offer to sell, or agree to sell relevant securities or associated securities in order to close out or liquidate any position established by stabilising actions whether or not those actions were in accordance with Rule 3, and
(c) purchase, offer to purchase or agree to purchase relevant securities or associated securities in order to close out or liquidate any position established pursuant to clause (i) or (ii) of subparagraph (a)
(2) A stabilising manager may act pursuant to paragraph (1) only if he or she reasonably believes that the conditions specified in Rule 5 have been fulfilled.
(3) A stabilising manager who acts pursuant to paragraph (1) shall comply with Rule 9.
(4) A transaction of the type described in paragraph (1) (c) may be effected without regard to the requirements as to purchasing price limits set out in Rule 7.
Preliminary steps before stabilising action, etc.
5. (1) The following are the conditions which have, in the reasonable belief of the stabilising manager, to have been fulfilled before any stabilising action or action pursuant to Rule 4(1) may be taken in accordance with these Rules:
(a) from the beginning of the introductory period—
(i) any electronic screen-based statement, including any screen facility provided by the stabilising manager through which persons are informed of the sale or purchase price of securities, or
(ii) any announcement intended for publication in any newspaper and any other announcement of a public nature, or
(iii) any invitation telex or equivalent document;
which refers to the issue concerned and is made or published by or on behalf of the issuer or the stabilising manager shall during the introductory period, include a reference to the future prospectus or to the prospect is or include the word “Stabilisation”,
(b) from the beginning of the introductory period, any preliminary offering circular, preliminary offering prospectus, final offering circular or final offering prospectus relating to the issue of the securities concerned shall include the following statement or a statement to the like effect:
“In connection with this issue [name of stabilising manager] may over-allot or effect transactions which stabilise or maintain the market price of [description of relevant securities and of any associated securities] at a level which might not otherwise prevail. Such stabilising, if commenced, may be discontinued at any time”,
and references in these Rules to a “disclosure statement” shall be to such statement or such statement to like effect,
(c) if there are associated securities in existence the market price of which was, at the time the issue price of the relevant securities was determined, at a level higher than it otherwise would have been because of any act performed by, or any course of conduct engaged in by, any person which the stabilising manager knows or ought reasonably to know created a false or misleading impression in the market in or the price or value of that security which may induce, or may have induced, another person—
(i) to enter into, or refrain from entering into any bargain or other transaction relative to such security, or
(ii) to exercise or refrain from exercising any rights conferred by that security,
the stabilising manager is satisfied that the issue price of the relevant securities is no higher than it would have been had that act not been performed or that course of conduct not been engaged in,
and
(d) the stabilising manager has established a register (in these Rules referred to as “the Register”) to record in relation to each transaction effected in the relevant securities or associated securities the matters required to be recorded by Rule 9.
(2) (a) Any disclosure required by paragraph (1)(a) to be included in a document or communication, or any disclosure statement required by paragraph (1)(b) to be included in a circular or prospectus, shall be set out prominently and in a legible form in the document or communication concerned.
(b) The disclosure statement may be adapted or omitted to comply with the requirements of any other jurisdiction in which transactions to stabilise or maintain the market price of securities may be conducted in connection with the issue and so as not to require any person duly appointed to conduct stabilising activity in respect of a jurisdiction other than the State to commit any breach of any legal rule or requirement in respect of any communication or announcement made or advertisement or document issued in that jurisdiction.
(3) (a) Except where provided for by subparagraphs (a) and (b) of paragraph (1), this Rule shall not apply to any communication, advertisement or document.
(b) Without prejudice to the generality of subparagraph (a), a disclosure or a disclosure statement need not be set out in any—
(i) allotment telex or similar document,
(ii) pricing telex or similar document,
(iii) contract note, or
(iv) short form or image advertisement, including any newspaper, radio or television advertisement designed to generate interest in the issue of the securities concerned and any marketing brochure as long as it does not constitute a preliminary offering circular or preliminary offering prospectus.
Restriction on stabilising action in associated securities.
6. No stabilising action shall be taken in any associated securities of those relevant securities which are debentures or other debt securities and which associated securities are associated securities because—
(a) the relevant securities may be exchanged for or converted into the associated securities, or
(b) the holders of the relevant securities have a right to subscribe for or to acquire the associated securities,
unless the terms on which the relevant securities may be exchanged for or converted into the associated securities, or the rights of holders of the relevant securities to subscribe for or to acquire the associated securities, have been finally settled and been made the subject of a public announcement.
Limits on prices.
7. (1) No stabilising action shall be effected by the stabilising manager at a price higher than any relevant price determined in accordance with this Rule.
(2) The limits on prices at which stabilising action may be effected shall be as follows:
(a) in the case of relevant securities and associated securities which are in all respects uniform with the relevant securities (not being debentures or other debt securities)—
(i) for the initial stabilising action, the issue price,
(ii) for subsequent actions—
(I) where there has been a deal at a price above the price at which the initial stabilising action took place (the “initial stabilising price”) on the relevant exchange which has not been done by or on the instructions of the stabilising manager, the issue price, or the price at which that deal was done, whichever is the lower, or
(II) where there has been no deal of the type described in subclause (I), the issue price, or the initial stabilising price, whichever is the lower,
(b) in the case of associated securities (not being debentures or other debt securities, associated securities which are in all respects uniform with the relevant securities, or associated call options)—
(i) for the initial stabilising action, the market bid price of the associated securities at the beginning of the stabilising period,
(ii) for subsequent actions—
(I) where there has been a deal at a price above the price at which the initial stabilising action took place (the “initial stabilising price”) on the relevant exchange which has not been done by or on the instructions of the stabilising manager, the market bid price in clause (i) or the price at which that deal in the associated securities was done, whichever is the lower, or
(II) where there has been no deal of the type described in subclause (I), the market bid price as in clause (i), or the initial stabilising price for the associated securities, whichever is the lower,
and
(c) in the case of associated call options—
(i) for the initial stabilising action, the market price of the associated call option at the beginning of the stabilising period,
(ii) for subsequent actions—
(I) where there has been a deal at a price above the price at which the initial stabilising action took place (the “initial stabilising price”) on the relevant exchange which has not been done by or on the instructions of the stabilising manager, the market price in clause (i) or the price at which that deal in the associated call option was done, whichever is the lower, or
(II) where there has been no deal of the type described in subclause (I), the market price as in clause (i), or the initial stabilising price for the associated call option, whichever is the lower.
(3) (a) In this Rule “relevant exchange” means the stock exchange which the stabilising manager reasonably believes to be the principal stock exchange on which those securities, or as the case may be, options, are dealt in at the time of the transaction.
(b) For the purposes of this Rule—
(i) where the price of any relevant securities or associated securities on the relevant exchange is in a currency other than the currency of the price of the securities to be stabilised, stabilising actions may be made at a price that reflects any movement in the relevant rate of exchange, but this shall not permit stabilising action under paragraph (2) (a) at a price above the equivalent, in the other currency, of the issue price in the currency on the relevant exchange,
(ii) any convertible bond which is both a debenture or other debt security and an associated call option shall be treated as a debenture only,
(iii) where no market bid price is quoted in respect of the associated security concerned at the beginning of the stabilising period, the relevant price shall be the closing quotation price in respect of such securities on the previous business day as published in the relevant stock exchange list.
Notification of termination of stabilising action.
8. Where the stabilising manager determines, before the 30th day after the closing date that he or she will take no further action to stabilise or maintain the market price of the relevant securities, he or she shall notify the Irish Stock Exchange Limited without delay of that determination and the Irish Stock Exchange Limited shall publish that information in such form as it sees fit.
Recording of stabilisation transactions.
9. (1) The stabilising manager shall record in the Register the matters specified in subparagraph (2) in relation to transactions effected pursuant to Rules 3 and 4 and that record shall be made before the opening of business on the day that is not a Saturday, Sunday or public holiday which next follows the day the transaction was effected and a copy of that record shall be communicated to the Irish Stock Exchange Limited before the end of that day.
(2) The following matters shall be recorded in the Register:
(a) the names of the persons to whom the relevant securities were allocated or issued and, in relation to each person, the amount allocated or issued to him or her;
(b) the description of the security which is the subject of the transaction;
(c) the price (excluding any commission payable) of each security which is the subject of the transaction;
(d) the number of securities which are the subject of the transaction;
(e) the date and time of the transaction; and
(f) the identity of the counterparty to the transaction.
(3) A stabilising manager who offers or effects a stabilising action at a price determined in accordance with subparagraph (a)(ii)(I), (b)(ii)(I) or (c)(ii)(I) of Rule 7(2) shall record in the Register details of the transaction which affects the maximum price of the stabilising action.
Uimhir 8 de 1999
ACHT NA gCUIDEACHTAÍ (LEASÚ), 1999
[An tiontú oifigiúil]
RIAR NA nALT
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Rialacha Cobhsaíochta
Na hAchtanna dá dTagraítear | |
Uimhir 8 de 1999
ACHT NA gCUIDEACHTAÍ (LEASÚ), 1999
[An tiontú oifigiúil]
ACHT DO LEASÚ AGUS DO LEATHNÚ CHODANNA IV AGUS V D'ACHT NA gCUIDEACHTAÍ, 1990, DO CHEADÚ GNÍOMHAÍOCHTA COBHSAÍOCHTA I nDÁIL LE hEISIÚINT NÓ DÍOL URRÚS AGUS DO DHÉANAMH SOCRÚ I dTAOBH NITHE COMHGHAOLMHARA. [19 Bealtaine, 1999]
ACHTAÍTEAR AG AN OIREACHTAS MAR A LEANAS:
Léiriú.
1.—(1) San Acht seo—
ciallaíonn “Acht 1990” Acht na gCuideachtaí, 1990;
tá le “dáta deiridh” an bhrí a shanntar leis na Rialacha Cobhsaíochta;
ciallaíonn “an Príomh-Acht” Acht na gCuideachtaí, 1963;
tá le “tréimhse chobhsaíochta”, i ndáil le haon ní a dhéanfar sa Stát de bhun na Rialacha Cobhsaíochta, an bhrí a shanntar leis na Rialacha Cobhsaíochta agus, i ndáil le haon ní a dhéanfar i ndlínse lasmuigh den Stát chun margadhphraghas urrús a chobhsú nó a chothabháil, ciallaíonn sé an tréimhse dar tosach—
(a) i gcás urrúis a eisiúint nó a thairiscint lena ndíol (nach eisiúint bintiúr ná fiach-urrús eile), an dáta a dhéantar an fógra poiblí is luaithe i dtaobh na heisiúna nó na tairisceana sin ina sonraítear an praghas eisiúna nó an praghas tairisceana, de réir mar a bheidh, le haghaidh na n-urrús sin, nó
(b) i gcás bintiúir nó fiach-urrúis eile a eisiúint, an dáta a dhéantar an fógra poiblí is luaithe i dtaobh na heisiúna sin, cibé acu a shonraítear an praghas eisiúna san fhógra sin nó nach sonraítear,
agus dar críoch—
(i) ar éag don lá atá 30 lá i ndiaidh an dáta deiridh, nó
(ii) ar éag don lá a dhéanfaidh bainisteoir a bheidh ceaptha ag an eisitheoir nó, de réir mar a bheidh, ag an tairgeoir chun gníomhaíocht chobhsaíochta a sheoladh, fógra a thabhairt do stocmhalartán ar a raibh gníomhaíocht chobhsaíochta á seoladh á rá gurbh é sin an lá ar a raibh sé cinnte aige nach ndéanfadh sé aon bheart eile chun margadhphraghas na n-urrús lena mbaineann a chobhsú nó a chothabháil,
cibé acu is túisce a tharlóidh;
ciallaíonn “Rialacha Cobhsaíochta” na rialacha dá dtagraítear faoin ainm sin agus atá leagtha amach sa Sceideal.
(2) San Acht seo—
(a) aon tagairt do Chuid, d'alt nó do Sceideal is tagairt í do Chuid nó d'alt den Acht seo nó do Sceideal a ghabhann leis an Acht seo, mura gcuirtear in iúl gur tagairt d'achtachán éigin eile atá beartaithe,
(b) aon tagairt d'fho-alt, do mhír, d'fhomhír, do chlásal nó d'fhochlásal is tagairt í don fho-alt, don mhír, don fhomhír, don chlásal nó don fhochlásal den fhoráil ina bhfuil an tagairt mura gcuirtear in iúl gur tagairt d'fhoráil éigin eile atá beartaithe, agus
(c) aon tagairt d'achtachán is tagairt í don achtachán sin arna leasú, arna leathnú nó arna oiriúnú le haon achtachán nó faoi aon achtachán ina dhiaidh sin, lena n-áirítear an tAcht seo.
Srian le halt 108 d'Acht 1990.
2.—Ní mheasfar alt 108 d'Acht 1990 a bheith sáraithe—
(a) mar gheall ar aon ní a dhéanfar sa Stát chun margadhphraghas urrús a chobhsú nó a chothabháil más i gcomhréir leis na Rialacha Cobhsaíochta a dhéanfar é, ná
(b) mar gheall ar aon bheart a dhéanfaidh duine le linn na tréimhse cobhsaíochta in aon dlínse seachas sa Stát chun margadhphraghas urrús a chobhsú nó a chothabháil, ach sin sa chás amháin go bhfuil an beart a dhéanfar ceadaithe, ar gach slí ábhartha, leis na ceanglais iomchuí go léir is infheidhme i leith beart den sórt sin sa dlínse ina ndéanfar an beart sin nó go bhfuil sé thairis sin de réir na gceanglas sin, lena n-áirítear, más rud é go bhfuil na hurrúis sin liostaithe ar stocmhalartán sa dlínse sin freisin, na rialacha nó na ceanglais rialaitheacha eile lena rialaítear an stocmhalartán sin.
Leasanna i scairchaipiteal iomchuí a nochtadh.
3.—(1) Maidir le duine d'fháil nó do dhiúscairt leasanna i scairchaipiteal iomchuí le linn na tréimhse cobhsaíochta lena mbaineann—
(a) ar fáil nó diúscairt í a dhéanfar chun margadhphraghas urrús a chobhsú nó a chothabháil, agus
(b) ar fáil nó diúscairt í a dhéanfar amhlaidh i gcomhréir leis na Rialacha Cobhsaíochta nó ar fáil nó diúscairt í lena mbaineann alt 2(b),
tabharfar neamhaird ar an bhfáil nó ar an diúscairt sin le linn na tréimhse cobhsaíochta chun críocha ailt 67 go 79 d'Acht 1990.
(2) Maidir le haon leas i scairchaipiteal iomchuí—
(a) a fuair duine le linn na tréimhse cobhsaíochta chun margadhphraghas urrús a chobhsú nó a chothabháil,
(b) a fuarthas amhlaidh de réir an Achta seo, agus
(c) a leanfaidh de bheith i seilbh an duine sin i ndeireadh na tréimhse cobhsaíochta,
déileálfar leis, chun críocha ailt 67 go 79 d'Acht 1990, mar leas a fuair an duine sin an chéad lá tar éis dheireadh na tréimhse cobhsaíochta nach Satharn ná Domhnach ná lá saoire poiblí.
(3) D'ainneoin fho-alt (1), oibreoidh fo-alt (4) d'alt 91 d'Acht 1990 chun na leasanna a bheidh le fógairt do Stocmhalartán na hÉireann Teoranta, agus an tslí a bheidh siad le fógairt amhlaidh, faoi fho-alt (2) den alt sin a chinneadh.
(4) San alt seo, tá le “scairchaipiteal iomchuí” an bhrí a shanntar le halt 67(2) d'Acht 1990.
Leasú ar alt 110 d'Acht 1990.
4.—Leasaítear leis seo alt 110 d'Acht 1990 tríd an méid seo a leanas a chur isteach i ndiaidh fho-alt (2):
“(2A) Measfar duine a bheith tar éis idirbheart lena mbaineann fo-alt (2)(b) a dhéanamh de mheon macánta, más rud é go ndéanfaidh an duine sin, de mheon macánta—
(a) caibidlí d'fhonn comhaontú a dhéanamh lena mbainfeadh mír (b) nó (c), nó
(b) comhaontú chun urrúis a fhrithghealladh, nó
(c) comhaontú, sula gcuirfidh stocmhalartán aitheanta saoráidí déileála ar fáil le haghaidh urrús, chun líon sonraithe de na hurrúis sin a fháil nó chun suibscríobh lena n-aghaidh, nó
(d) idirbheart de réir oibleagáidí an duine sin faoi chomhaontú lena mbaineann mír (b) nó (c).”.
Deireadh a chur le deacrachtaí.
5.—(1) Más rud é go dtarlóidh aon deacracht, ar aon bhealach, i ndáil le hoibriú aon fhorála de na Rialacha Cobhsaíochta, féadfaidh an tAire Fiontar, Trádála agus Fostaíochta, le rialacháin, na Rialacha Cobhsaíochta a leasú chun aon ní a dhéanamh is dealraitheach dó nó di a bheith riachtanach nó fóirsteanach chun deireadh a chur leis an deacracht sin, agus féadfar le haon rialacháin den sórt sin aon fhoráil de na Rialacha Cobhsaíochta a mhodhnú nó cur leis an gcéanna a mhéid a bheidh riachtanach nó fóirsteanach chun an Sceideal a chur in éifeacht.
(2) Gach rialachán a dhéanfar faoin alt seo leagfar é faoi bhráid gach Tí den Oireachtas a luaithe is féidir tar éis a dhéanta agus má dhéanann ceachtar Teach acu sin, laistigh den 21 lá a shuífidh an Teach sin tar éis an rialachán a leagan faoina bhráid, rún a rith ag neamhniú an rialacháin, beidh an rialachán ar neamhní dá réir sin, ach sin gan dochar do bhailíocht aon ní a rinneadh roimhe sin faoin rialachán.
Cúlghairm.
6.—Cúlghairtear leis seo na Rialacháin um Acht na gCuideachtaí, 1990 (Déileáil Chos Istigh), 1991 (I.R. Uimh. 151 de 1991), agus na Rialacháin um Acht na gCuideachtaí, 1990 (Déileáil Chos Istigh), 1992 (I.R. Uimh. 131 de 1992).
Gearrtheideal, comhlua, forléiriú agus tosach feidhme.
7.—(1) Féadfar Acht na gCuideachtaí (Leasú), 1999, a ghairm den Acht seo.
(2) Féadfar Achtanna na gCuideachtaí, 1963 go 1999, a ghairm den Acht seo agus d'Achtanna na gCuideachtaí, 1963 go 1990, le chéile agus forléireofar le chéile iad mar aon ní amháin.
(3) Tiocfaidh an tAcht seo i ngníomh cibé lá nó laethanta a cheapfar le hordú nó le horduithe a dhéanfaidh an tAire Fiontar, Trádála agus Fostaíochta, i gcoitinne nó faoi threoir aon chríche nó forála áirithe, agus féadfar laethanta éagsúla a cheapadh amhlaidh chun críoch éagsúil agus le haghaidh forálacha éagsúla den Acht seo.
AN SCEIDEAL
Rialacha Cobhsaíochta
Mínithe.
1. Sna Rialacha seo—
ciallaíonn “urrúis chomhlachaithe”—
(a) urrúis atá ar aon réim ar gach slí leis na hurrúis iomchuí, nó
(b) urrúis ar ar féidir na hurrúis iomchuí a mhalartú nó inar féidir iad a chomhshó, nó
(c) urrúis a bhfuil cearta ag sealbhóirí na n-urrús iomchuí, de bhua a sealbhán de na hurrúis sin, iad a fháil nó suibscríobh lena n-aghaidh, nó
(d) urrúis is admhálacha taiscí atá in ionannas do chearta maoine, nó lena dtugtar cearta maoine, i leith urrús iomchuí nó i leith urrús lena mbaineann mír (a), (b), (c) nó (f) nó atá in ionannas do cheart conarthach (seachas rogha), nó lena dtugtar ceart conarthach (seachas rogha), chun urrúis den sórt sin a fháil ar shlí eile seachas trí shuibscríobh; nó
(e) urrúis atá in ionannas d'aon cheart, rogha nó oibleagáid, nó lena dtugtar aon cheart, rogha nó oibleagáid, i leith innéacs a bhaineann le hurrúis iomchuí nó le hurrúis lena mbaineann mír (a), (b), (c) nó (d), nó
(f) urrúis atá in ionannas do cheart, nó lena dtugtar ceart, chun méid áirithe d'urrúis iomchuí nó d'aon urrúis lena mbaineann mír (a), (b), (c), (d) nó (e) a fháil ar dháta éigin sa todhchaí ar phraghas áirithe (“roghanna comhlachaithe ar cheannach“) nó atá in ionannas d'aon cheart, rogha nó oibleagáid, nó lena dtugtar aon cheart, rogha nó oibleagáid, ar shlí eile i leith urrús den sórt sin;
ciallaíonn “dáta deiridh”—
(a) i gcás urrúis a eisiúint, an dáta a gheobhaidh eisitheoir na n-urrús fáltais na heisiúna nó, i gcás go bhfaighidh an t-eisitheoir na fáltais sin i dtráthchodanna, an dáta a gheobhaidh sé an chéad tráthchuid; agus
(b) i gcás urrúis a thairiscint lena ndíol, an dáta a gheobhaidh an tairgeoir nó, de réir mar a bheidh, na tairgeoirí na fáltais ón tairiscint díola, nó, i gcás go bhfaighidh an tairgeoir nó, de réir mar a bheidh, na tairgeoirí na fáltais sin i dtráthchodanna, an dáta a gheobhaidh an tairgeoir nó, i gcás níos mó ná tairgeoir amháin a bheith ann, an dáta a gheobhaidh tairgeoir amháin nó níos mó de na tairgeoirí, an chéad tráthchuid;
ciallaíonn “tréimhse thionscnaimh” an tréimhse dar tosach tráth an chéad fhógra phoiblí óna bhféadfaí a thuiscint le réasún go raibh sé beartaithe go ndéanfaí an eisiúint i bhfoirm éigin agus tráth éigin, agus dar críoch tosach na tréimhse cobhsaíochta;
folaíonn “eisiúint” tairiscint díola, seachas sna mínithe ar “dáta deiridh” agus “tréimhse chobhsaíochta” agus i Riail 2, agus forléireofar “eisigh” dá réir sin;
ciallaíonn “praghas eisiúna” an praghas sonraithe ar a n-eiseofar na hurrúis iomchuí gan aon choimisiún nó lamháltas díola a asbhaint;
folaíonn “eisitheoir” tairgeoir, seachas sa mhíniú ar “dáta deiridh”;
ciallaíonn “bainisteoir” an duine dá mbeidh treoir tugtha ag eisitheoir na n-urrús chun an eisiúint a bhainistiú;
ciallaíonn “fógra poiblí” aon chumarsáid a dhéanfaidh an t-eisitheoir nó an bainisteoir nó a dhéanfar thar ceann an eisitheora nó an bhainisteora, is cumarsáid a dhéanfar in imthosca inar dócha go dtiocfaidh an pobal ar an eolas faoin gcumarsáid;
tá le “stocmhalartán aitheanta” an bhrí a shanntar le halt 107 d'Acht na gCuideachtaí, 1990;
tá le “an Clár” an bhrí a shanntar dó le Riail 5(1)(d);
ciallaíonn “lá iomchuí“—
(a) an 30ú lá tar éis an dáta deiridh nó,
(b) i gcás go mbeidh sé cinnte ag an mbainisteoir cobhsaíochta, roimh an 30ú lá tar éis an dáta deiridh, nach ndéanfadh sé nó sí aon bheart eile chun margadhphraghas na n-urrús iomchuí a chobhsú nó a chothabháil agus go mbeidh fógra dá réir sin tugtha aige nó aici do Stocmhalartán na hÉireann Teoranta de bhun Riail 8; an lá a chinn sé nó sí amhlaidh;
tá le “urrúis iomchuí” an bhrí a thugtar le Riail 2;
tá le “urrúis” an bhrí a shanntar le halt 107 d'Acht na gCuideachtaí, 1990;
ciallaíonn “beart cobhsaíochta” ceannach urrús iomchuí nó urrús comhlachaithe, nó comhaontú nó tairiscint chun urrúis iomchuí nó urrúis chomhlachaithe a cheannach, a cheadaítear a dhéanamh le Riail 3;
ciallaíonn “bainisteoir cobhsaíochta” an duine is bainisteoir nó, i gcás go bhfuil níos mó ná bainisteoir amháin ann, cibé duine amháin de na bainisteoirí a mbeidh sé socraithe eatarthu gurb é nó í an duine a sheolfaidh beart cobhsaíochta sa Stát i ndáil leis na hurrúis iomchuí a eisiúint;
ciallaíonn “tréimhse chobhsaíochta” an tréimhse dar tosach an dáta a dhéantar an fógra poiblí is luaithe i dtaobh na heisiúna nó na tairisceana díola ina sonraítear an praghas eisiúna nó an praghas tairisceana, de réir mar a bheidh, agus dar críoch an lá iomchuí, ach amháin, i ndáil le hurrúis iomchuí a eisiúint ar bintiúir nó fiach-urrúis eile iad, go gciallaíonn an tréimhse chobhsaíochta an tréimhse dar tosach an dáta a dhéantar an fógra poiblí is luaithe i dtaobh na heisiúna (cibé acu a shonraítear an praghas eisiúna san fhógra sin nó nach sonraítear) agus dar críoch an lá iomchuí;
ciallaíonn “tairiscint táthcheangail” tairiscint a dhéantar go ginearálta do shealbhóirí scaireanna i gcuideachta chun na scaireanna sin nó cion sonraithe díobh a fháil, nó do shealbhóirí aicme áirithe de na scaireanna sin chun na scaireanna den aicme sin nó cion sonraithe díobh a fháil.
Feidhm.
2. Tá feidhm ag na Rialacha seo—
(a) maidir le heisiúint urrús ar airgead tirim,
(b) maidir le tairiscint urrús ar airgead tirim, is urrúis nach bhfuil saoráidí déileála urrús curtha ar fáil ina leith cheana féin ag stocmhalartán aitheanta, agus
(c) maidir le tairiscint urrús ar airgead tirim, is urrúis a bhfuil saoráidí déileála curtha ar fáil ina leith cheana féin ag stocmhalartán aitheanta, más £15,000,000 (nó a choibhéis san airgeadra nó san aonad cuntais ina sonraítear praghas na n-urrús) ar a laghad costas iomlán na n-urrús is ábhar don tairiscint,
agus a dhéantar ar mhodh eile seachas i dtaca le tairiscint táthcheangail agus ar phraghas sonraithe agus is urrúis ar féidir déileáil iontu ar stocmhalartán aitheanta gan iarratas foirmiúil, nó a ndearnadh iarratas ar stocmhalartán aitheanta ina leith chun go ndéileálfaí sna hurrúis ar an malartán sin, agus gairtear “urrúis iomchuí” de na hurrúis sin sna Rialacha seo.
Beart cobhsaíochta ceadaithe.
3. (1) Faoi réir mhír (2) agus Rialacha 6 agus 7, féadfaidh an bainisteoir cobhsaíochta, le linn na tréimhse cobhsaíochta, aon cheann nó gach ceann de na nithe seo a leanas a dhéanamh, d'fhonn margadhphraghas na n-urrús iomchuí a chobhsú nó a chothabháil:
(a) aon urrús de na hurrúis iomchuí a cheannach, a chomhaontú iad a cheannach nó a thairiscint iad a cheannach, agus
(b) aon urrúis chomhlachaithe a cheannach, a chomhaontú iad a cheannach nó a thairiscint iad a cheannach.
(2) Ní fhéadfaidh bainisteoir cobhsaíochta beart cobhsaíochta a dhéanamh de bhun mhír (1) ach amháin más rud é go gcreideann an bainisteoir cobhsaíochta le réasún gur comhlíonadh na coinníollacha a shonraítear i Riail 5.
(3) Maidir le bainisteoir cobhsaíochta a dhéanann beart cobhsaíochta de bhun mhír (1), comhlíonfaidh sé nó sí Riail 9.
Beart ceadaithe atá coimhdeach le beart cobhsaíochta.
4. (1) Faoi réir mhír (2) agus Riail 6, féadfaidh an bainisteoir cobhsaíochta—
(a) d'fhonn bearta cobhsaíochta a dhéanamh, ceachtar de na nithe seo a leanas, nó iad araon, a dhéanamh—
(i) líon níos mó d'urrúis iomchuí a leithroinnt ná mar a eiseofar, agus
(ii) líon níos mó d'urrúis iomchuí nó d'urrúis chomhlachaithe a dhíol, nó a thairiscint iad a dhíol nó a chomhaontú iad a dhíol, ná mar atá ar fáil lena ndíol ag an mbainisteoir cobhsaíochta,
(b) urrúis iomchuí nó urrúis chomhlachaithe a dhíol, nó a thairiscint iad a dhíol nó a chomhaontú iad a dhíol, d'fhonn aon seasamh arna bhunú le bearta cobhsaíochta a fhoirceannadh nó a leachtú cibé acu a bhí na bearta sin de réir Riail 3 nó nach raibh, agus
(c) urrúis iomchuí nó urrúis chomhlachaithe a cheannach, nó a thairiscint iad a cheannach nó a chomhaontú iad a cheannach, d'fhonn aon seasamh arna bhunú de bhun chlásal (i) nó (ii) d'fhomhír (a) a fhoirceannadh nó a leachtú.
(2) Ní fhéadfaidh bainisteoir cobhsaíochta gníomhú de bhun mhír (1) ach amháin más rud é go gcreideann sé nó sí le réasún gur comhlíonadh na coinníollacha a shonraítear i Riail 5.
(3) Maidir le bainisteoir cobhsaíochta a ghníomhaíonn de bhun mhír (1), déanfaidh sé nó sí Riail 9 a chomhlíonadh.
(4) Féadfar idirbheart den saghas a thuairiscítear i mír (1)(c) a dhéanamh gan féachaint do na ceanglais maidir le teorainneacha praghais ceannaigh a leagtar amach i Riail 7.
Réamhbhearta roimh bheart cobhsaíochta, etc.
5. (1) Is iad seo a leanas na coinníollacha nach foláir, i dtuairim réasúnach an bhainisteora cobhsaíochta, iad a bheith comhlíonta sula bhféadfar aon bheart cobhsaíochta nó aon bheart de bhun Riail 4(1) a dhéanamh de réir na Rialacha seo:
(a) ó thosach na tréimhse tionscnaimh—
(i) maidir le haon ráiteas leictreonach scáileánbhunaithe, lena n-áirítear aon saoráid scáileáin arna cur ar fáil ag an mbainisteoir cobhsaíochta, trína gcuirtear daoine ar an eolas i dtaobh praghais díola nó praghais ceannaigh urrús, nó
(ii) maidir le haon fhógra a bheartaítear a fhoilsiú in aon nuachtán agus aon fhógra eile de chineál poiblí, nó
(iii) maidir le haon teiléacs cuiridh nó doiciméad coibhéiseach;
ina ndéantar tagairt don eisiúint lena mbaineann agus a bheidh arna dhéanamh nó arna fhoilsiú ag an eisitheoir nó ag an mbainisteoir cobhsaíochta nó thar ceann an eisitheora nó an bhainisteora cobhsaíochta, go mbeidh tagairt ann, le linn na tréimhse tionscnaimh, don réamheolaire atá le teacht nó don réamheolaire nó go mbeidh an focal “Cobhsaíocht” ann,
(b) ó thosach na tréimhse tionscnaimh, maidir le haon réamhchiorclán tairisceana, réamh-réamheolaire tairisceana, ciorclán tairisceana deiridh nó réamheolaire tairisceana deiridh a bhaineann le heisiúint na n-urrús lena mbaineann, go mbeidh an ráiteas seo a leanas nó ráiteas a mbeidh an éifeacht chéanna leis ann:
“I dtaca leis an eisiúint seo féadfaidh [ainm an bhainisteora cobhsaíochta] ró-leithroinnt a dhéanamh nó idirbhearta a dhéanamh lena ndéanfar margadhphraghas [tuairisc ar urrúis iomchuí agus ar aon urrúis chomhlachaithe] a chobhsú nó a chothabháil ag leibhéal nár dhócha a bheith ann thairis sin. Má thosófar ar chobhsú den sórt sin, féadfar scor de tráth ar bith”,
agus aon tagairtí do “ráiteas nochta” sna Rialacha seo is tagairtí iad don ráiteas sin nó do ráiteas a mbeidh an éifeacht chéanna leis,
(c) más ann d'urrúis chomhlachaithe a raibh, an tráth a cinneadh praghas eisiúna na n-urrús iomchuí, a margadhphraghas ag leibhéal ní b'airde ná mar a bheadh sé thairis sin, de bharr aon ghnímh a rinne aon duine, nó de bharr aon iompair a bhí ar siúl ag aon duine, ar gníomh nó iompar é arb eol nó ar chóir le réasún gurbh eol don bhainisteoir cobhsaíochta gurbh é an toradh a bhí air tuiscint bhréagach nó mhíthreorach a chruthú sa mhargadh san urrús sin nó maidir le praghas nó luach an urrúis sin a fhéadfaidh duine eile a aslú, nó a fhéadfaidh a bheith tar éis duine eile a aslú—
(i) chun aon mhargadh nó idirbheart eile a dhéanamh, nó chun staonadh óna dhéanamh, i ndáil leis an urrús sin, nó
(ii) chun aon chearta a thugtar leis an urrús sin a fheidhmiú nó chun staonadh óna bhfeidhmiú,
gur deimhin leis an mbainisteoir cobhsaíochta nach bhfuil praghas eisiúna na n-urrús iomchuí níos airde ná mar a bheadh sé dá mba rud é nach ndearnadh an gníomh sin nó nach raibh an t-iompar sin ar siúl,
agus
(d) go mbeidh clár (dá ngairtear “an Clár” sna Rialacha seo) bunaithe ag an mbainisteoir cobhsaíochta chun na nithe a thaifeadadh a cheanglaítear a thaifeadadh le Riail 9 i ndáil le gach idirbheart a dhéantar sna hurrúis iomchuí nó sna hurrúis chomhlachaithe.
(2) (a) Maidir le haon nochtadh a cheanglaítear le mír (1)(a) a áireamh i ndoiciméad nó i gcumarsáid, nó aon ráiteas nochta a cheanglaítear le mír (1)(b) a áireamh i gciorclán nó i réamheolaire, beidh sé leagtha amach go suntasach agus i bhfoirm inléite sa doiciméad nó sa chumarsáid lena mbaineann.
(b) Féadfar an ráiteas nochta a oiriúnú nó a fhágáil ar lár chun ceanglais aon dlínse eile a chomhlíonadh ar dlínse í inar féidir, i dtaca leis an eisiúint, idirbhearta a sheoladh d'fhonn margadhphraghas urrús a chobhsú nó a chothabháil agus chun nach gá d'aon duine a cheapfar go cuí chun gníomhaíocht chobhsaíochta a sheoladh i leith dlínse seachas an Stát sárú a dhéanamh ar aon riail dhlíthiúil nó ar aon cheanglas dlíthiúil i leith aon chumarsáide nó fhógra a dhéanfar, nó i leith aon fhógráin nó doiciméid a eiseofar, sa dlínse sin.
(3) (a) Ach amháin mar a bhforáiltear le fomhíreanna (a) agus (b) de mhír (1), ní bheidh feidhm ag an Riail seo maidir le haon chumarsáid, fógrán nó doiciméad.
(b) Gan dochar do ghinearáltacht fhomhír (a), ní gá nochtadh nó ráiteas nochta a leagan amach—
(i) in aon teiléacs leithroinnte nó doiciméad dá shamhail,
(ii) in aon teiléacs praghsanna nó doiciméad dá shamhail,
(iii) in aon nóta conartha, nó
(iv) in aon fhógrán gearrfhoirme nó fógrán íomhá, lena n-áirítear aon fhógrán nuachtáin, raidió nó teilifíse atá ceaptha suim a chothú in eisiúint na n-urrús lena mbaineann, agus in aon bhróisiúr margaíochta fad is nach réamhchiorclán tairisceana ná réamhréamheolaire tairisceana é.
Srian le beart cobhsaíochta in urrúis chomhlachaithe.
6. Ní dhéanfar aon bheart cobhsaíochta in aon urrúis chomhlachaithe de chuid na n-urrús iomchuí sin is bintiúir nó fiachurrúis eile agus ar urrúis chomhlachaithe na hurrúis chomhlachaithe sin toisc—
(a) go bhféadfar na hurrúis iomchuí a mhalartú ar na hurrúis chomhlachaithe nó a chomhshó iontu, nó
(b) go bhfuil ceart ag sealbhóirí na n-urrús iomchuí suibscríobh le haghaidh na n-urrús comhlachaithe nó iad a fháil,
mura rud é go bhfuil na téarmaí ar ar féidir na hurrúis iomchuí a mhalartú ar na hurrúis chomhlachaithe nó a chomhshó iontu, nó cearta shealbhóirí na n-urrús iomchuí chun suibscríobh le haghaidh na n-urrús comhlachaithe nó iad a fháil, socruithe go críochnaitheach agus go bhfuiltear tar éis ábhar fógra phoiblí a dhéanamh díobh.
Teorainneacha le praghsanna.
7. (1) Ní dhéanfaidh an bainisteoir cobhsaíochta aon bheart cobhsaíochta ar phraghas is airde ná aon phraghas iomchuí a chinnfear de réir na Rialach seo.
(2) Is mar seo a leanas a bheidh na teorainneacha ar phraghsanna ar dá réir is féidir beart cobhsaíochta a dhéanamh:
(a) i gcás urrús iomchuí agus urrús comhlachaithe atá ar aon réim ar gach slí leis na hurrúis iomchuí (nach bintiúir ná fiach-urrúis eile)—
(i) don bheart cobhsaíochta tosaigh, an praghas eisiúna,
(ii) do bhearta ina dhiaidh sin—
(I) i gcás go ndearnadh déileáil ar phraghas atá os cionn an phraghais ar ar tharla an beart cobhsaíochta tosaigh (an “praghas cobhsaíochta tosaigh”) ar an malartán iomchuí is déileáil nach ndearna an bainisteoir cobhsaíochta nó nach ndearnadh ar threoracha uaidh nó uaithi, an praghas eisiúna nó an praghas ar a ndearnadh an déileáil sin, cibé acu is ísle, nó
(II) i gcás nach ndearnadh aon déileáil den sórt a thuairiscítear i bhfochlásal (I), an praghas eisiúna, nó an praghas cobhsaíochta tosaigh, cibé acu is ísle,
(b) i gcás urrús comhlachaithe (nach bintiúir ná fiach-urrúis eile, urrúis chomhlachaithe atá ar aon réim ar gach slí leis na hurrúis iomchuí, nó roghanna comhlachaithe ar cheannach)—
(i) don bheart cobhsaíochta tosaigh, margadhphraghas tairgthe na n-urrús comhlachaithe i dtús na tréimhse cobhsaíochta,
(ii) do bhearta ina dhiaidh sin—
(I) i gcás go ndearnadh déileáil ar phraghas atá os cionn an phraghais ar ar tharla an beart cobhsaíochta tosaigh (an “praghas cobhsaíochta tosaigh”) ar an malartán iomchuí is déileáil nach ndearna an bainisteoir cobhsaíochta nó nach ndearnadh ar threoracha uaidh nó uaithi, an margadhphraghas tairgthe i gclásal (i) nó an praghas ar a ndearnadh an déileáil sin sna hurrúis chomhlachaithe, cibé acu is ísle, nó
(II) i gcás nach ndearnadh aon déileáil den sórt a thuairiscítear i bhfochlásal (I), an margadhphraghas tairgthe de réir mar atá i gclásal (i), nó an praghas cobhsaíochta tosaigh do na hurrúis chomhlachaithe, cibé acu is ísle,
agus
(c) i gcás roghanna comhlachaithe ar cheannach—
(i) don bheart cobhsaíochta tosaigh, margadhphraghas na rogha comhlachaithe ar cheannach i dtús na tréimhse cobhsaíochta,
(ii) do bhearta ina dhiaidh sin—
(I) i gcás go ndearnadh déileáil ar phraghas atá os cionn an phraghais ar ar tharla an beart cobhsaíochta tosaigh (an “praghas cobhsaíochta tosaigh”) ar an malartán iomchuí is déileáil nach ndearna an bainisteoir cobhsaíochta nó nach ndearnadh ar threoracha uaidh nó uaithi, an margadhphraghas i gclásal (i) nó an praghas ar a ndearnadh an déileáil sin sa rogha chomhlachaithe ar cheannach, cibé acu is ísle, nó
(II) i gcás nach ndearnadh aon déileáil den sórt a thuairiscítear i bhfochlásal (I), an margadhphraghas de réir mar atá i gclásal (i), nó an praghas cobhsaíochta tosaigh don rogha chomhlachaithe ar cheannach, cibé acu is ísle.
(3) (a) Sa Riail seo ciallaíonn “malartán iomchuí” an stocmhalartán a gcreideann an bainisteoir cobhsaíochta le réasún gurb é an príomh-stocmhalartán é ar a ndéileáiltear sna hurrúis sin nó, de réir mar a bheidh, sna roghanna sin, tráth an idirbhirt.
(b) Chun críocha na Rialach seo—
(i) i gcás praghas aon urrús iomchuí nó aon urrús comhlachaithe ar an malartán iomchuí a bheith in airgeadra seachas airgeadra phraghas na n-urrús atá le cobhsú, féadfar bearta cobhsaíochta a dhéanamh ar phraghas a léireoidh aon bhogadh sa ráta malairte iomchuí, ach ní cheadófar leis sin beart cobhsaíochta faoi mhír (2)(a) ar phraghas atá os cionn choibhéis, san airgeadra eile, an phraghais eisiúna san airgeadra ar an malartán iomchuí,
(ii) maidir le haon bhanna inchomhshóite ar bintiúr nó fiach-urrús eile agus rogha chomhlachaithe ar cheannach araon é, ní dhéileálfar leis ach amháin mar bhintiúr,
(iii) i gcás nach bhfuil aon mhargadhphraghas tairgthe luaite i leith an urrúis chomhlachaithe lena mbaineann i dtús na tréimhse cobhsaíochta, is é an praghas iomchuí an praghas lua am scoir i leith na n-urrús sin an lá gnó roimhe sin mar a fhoilsítear sa liosta stocmhalartáin iomchuí.
Fógra a thabhairt maidir le beart cobhsaíochta a fhoirceannadh.
8. I gcás go gcinnfidh an bainisteoir cobhsaíochta, roimh an 30ú lá tar éis an dáta deiridh, nach ndéanfaidh sé nó sí aon bheart eile chun margadhphraghas na n-urrús iomchuí a chobhsú nó a chothabháil, déanfaidh sé nó sí fógra i dtaobh an chinnidh sin a thabhairt gan mhoill do Stocmhalartán na hÉireann Teoranta agus foilseoidh Stocmhalartán na hÉireann Teoranta an fhaisnéis sin i cibé foirm is cuí leis.
Idirbhearta cobhsaíochta a thaifeadadh.
9. (1) Déanfaidh an bainisteoir cobhsaíochta na nithe a shonraítear i bhfomhír (2) a thaifeadadh sa Chlár i ndáil le hidirbhearta a rinneadh de bhun Rialacha 3 agus 4, agus déanfar an taifead sin roimh thosach gnó an lá, nach Satharn, Domhnach ná lá saoire poiblí, díreach tar éis an lae a rinneadh an t-idirbheart agus tabharfar cóip den taifead sin do Stocmhalartán na hÉireann Teoranta roimh dheireadh an lae sin.
(2) Déanfar na nithe seo a leanas a thaifeadadh sa Chlár:
(a) ainmneacha na ndaoine ar ar leithroinneadh nó chuig ar eisíodh na hurrúis iomchuí agus, i ndáil le gach duine acu, an méid a leithroinneadh air nó uirthi nó an méid a eisíodh chuige nó chuici;
(b) tuairisc an urrúis is ábhar don idirbheart;
(c) praghas (gan aon choimisiún is iníoctha a áireamh) gach urrúis is ábhar don idirbheart;
(d) líon na n-urrús is ábhar don idirbheart;
(e) dáta agus am an idirbhirt; agus
(f) céannacht an chuntrapháirtí san idirbheart.
(3) Maidir le haon bhainisteoir cobhsaíochta a thairgeann nó a dhéanann beart cobhsaíochta ar phraghas arna chinneadh de réir fhomhír (a)(ii)(I), (b)(ii)(I) nó (c)(ii)(I) de Riail 7(2), déanfaidh sé nó sí mionsonraí an idirbhirt a dhéanann difear do phraghas uasta an bhirt cobhsaíochta a thaifeadadh sa Chlár.