+Article 9 5.

Article 9 5.

This Article shall not apply to the acquisition or disposal of a major holding reaching or crossing the 5 % threshold by a market maker acting in its capacity of a market maker, provided that:

(a) 

it is authorised by its home Member State under Directive 2004/39/EC; and

(b) 

it neither intervenes in the management of the issuer concerned nor exerts any influence on the issuer to buy such shares or back the share price.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards