Section 132: Take-over bid.

(1) Any bid which constitutes a take-over bid shall be referred to as a bid under the take-over bids.
(2) A take-over bid shall be deemed to be dated as of the date on which a bid under the takeover bid is despatched or if such a bid is despatched on more than one date, on the latest date on which such a bid is despatched and for this purpose, a bid despatched by post shall be deemed dated as of the date on which it is posted.
(3) For the purposes of this section, where two or more persons acting separately, or acting separately through one or more than one agent each despatching a bid at approximately the same time to shareholders of the same company they shall, unless the contrary is proved, be deemed to have despatched a bid in concert if those persons so acting are persons comprised in any one of the following groups, namely:
(a) a holding company and its subsidiary or subsidiaries;
(b) two or more subsidiaries of the same holding company;
(c) a company and any associate company or companies;
(d) a group of a kind referred to in paragraph (a) or (b) of this subsection together with one or more than one company which is an associate of any company or companies in the group;
(e) a subsidiary and one or more than one associate of the holding company of the subsidiary;
(f) the pension fund of two or more companies in any group of a kind referred to in paragraphs (a) to (e) of this subsection; or
(g) any combination of:
(i) officers of one or more than one company in any group of a kind referred to in paragraphs (a) to (e) of this subsection;
(ii) members of the family or families of any such officer or officers, or
(iii) any such officer or officers and any such member or members, and for this purpose, the family of an officer includes a person (not being an officer) who is the husband or wife (including the reputed husband or wife), a child or the parents, of the officer.
(4) Where the shares in a company are not divided into two or more classes those shares shall, for the purposes of this Act, be deemed to constitute a class.