| Q2/2009 New M&A provisions |
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The CMB is currently drafting a communiqué amending the Communiqué Regarding the Principles in relation to Merger and Acquisition Transactions. The amendments aim to reduce the requirements for mergers and acquisitions where at least one of the parties to the transaction is a public company. The reduction of requirements is planned in respect to financial statements and independent audit reports, board of directors' reports and expert company reports. Additionally, this communiqué aims to include new principles in relation to public disclosures. It is also worth mentioning that the last version of the draft circulated on 15 April 2009 indicates the direct application of the communiqué provisions to applications filed and in review as at the date of the enactment of this communiqué. |

