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WpÜG-EN 🇩🇪

WpÜG-EN · 76 sections

Section 1Scope of application Section 2Definitions Section 3General principles Section 4Tasks and powers Section 5Section 5 Section 6Section 6 Section 7Cooperation with domestic supervisory authorities Section 8Cooperation with competent bodies abroad Section 9Duty of confidentiality Section 10Publication of the decision to make an offer Section 11Offer document Section 11aEuropean passport Section 12Liability for the offer document Section 13Financing of the offer Section 14Transmission and publication of the offer document Section 15Prohibition of the offer Section 16Acceptance periods; convening of the general meeting Section 17Inadmissibility of a public invitation to make offers Section 18Conditions; inadmissibility of a reservation of withdrawal or revocation Section 19Allotment in the case of a partial offer Section 20Trading book Section 21Amendment of the offer Section 22Competing offers Section 23Publication obligations of the offeror after making the offer Section 24Cross-border offers Section 25Resolution of the offeror's general meeting Section 26Blocking period Section 27Position statement of the management board and supervisory board of the target company Section 28Advertising Section 29Definitions Section 30Attribution of voting rights; authorisation to issue statutory instruments Section 31Consideration Section 32Inadmissibility of partial offers Section 33Acts of the management board of the target company Section 33aEuropean non-frustration rule Section 33bEuropean breakthrough rule Section 33cReservation of reciprocity Section 33dProhibition of the grant of unjustified benefits Section 34Application of the provisions of Division 3 Section 35Obligation to publish and to make an offer Section 36Disregard of voting rights Section 37Exemption from the obligation to publish and to make an offer Section 38Claim to interest Section 39Application of the provisions of Divisions 3 and 4 Section 39aExclusion of the remaining shareholders Section 39bExclusion proceedings Section 39cSell-out right Section 40BaFin's investigative powers Section 41Objection procedure Section 42Immediate enforceability Section 43Notification and service Section 44BaFin's right of publication Section 45Communications to BaFin Section 46Coercive measures Section 47Section 47 Section 48Admissibility, competence Section 49Suspensive effect Section 50Order of immediate enforcement Section 51Period and form Section 52Parties to the appellate proceedings Section 53Compulsory representation by counsel Section 54Oral hearing Section 55Principle of investigation Section 56Appellate decision; duty to refer Section 57Inspection of files Section 58Application of provisions of the Courts Constitution Act and the Code of Civil Procedure Section 59Loss of rights Section 60Provisions on regulatory fines Section 61Competent administrative authority Section 62Competence of the Higher Regional Court in court proceedings Section 63Appeal on points of law to the Federal Court of Justice Section 64Resumption of proceedings against a fine notice Section 65Court decision in enforcement Section 66Courts for securities-acquisition and takeover matters Section 67Division for securities-acquisition and takeover matters at the Higher Regional Court Section 68Transitional provisions

Section 5

Section 5

(repealed)

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