Companies Act, 2008 (Act No. 71 of 2008)RegulationsCompanies Regulations, 2011Chapter 5 : Fundamental Transactions and Takeover RegulationsPart B : General Rules Respecting Negotiations and Offers96. Conditional Offers |
An offer must not be subject to any condition—
| (a) | that depends solely on subjective judgment by the directors, or equivalent, of the offeror; or |
| (b) | if the directors, or equivalent, of the offeror are able to control whether or not the condition will be fulfilled. |