Section 131: Take over.

(1) Where any person:
(a) acquires shares, whether by a series of transactions over a period of time or not, which (taken together with shares held or acquired by persons acting in concert with him) carry 30 per cent or more (or any lower or higher threshold as may be prescribed by the Commission from time to time) of the voting rights of a company; or
(b) together with persons acting in concert with him, holds not less than 30% but not more than 50 per cent (or a lower or higher threshold as may be prescribed by the Commission from time to time) of the voting rights and such person or any person acting in concert with him, acquires additional shares which increase his percentage of the voting rights, such person shall make a take over offer to the holder of any class of equity share capital in which such person or any person acting in concert with him holds shares.
(2) All shareholders of the same class of an offeree company shall be treated similarly by an offeror.
(3) During the course of an offer or when an offer is in contemplation, neither an offeror nor the offeree company nor any of the representatives and advisers of the offeror or offeree shall furnish information to some shareholders which is not made available to all shareholders.