Section 12: Exemptions from chapter
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/ma/part-i/title-xv/chapter-110c/12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 12. This chapter does not apply when:—
(a)The offeror or the target company is a public utility or a public utility holding company as defined in section two of the ''Public Utility Holding Company Act of 1935'', 15 U.S.C. 79, as amended, and the take-over bid is subject to approval by the appropriate federal agency as provided in such act;
(b)The offeror or the target company is a bank or a bank holding company subject to the ''Bank Holding Company Act of 1956'', 12 U.S.C. 1841, as amended, and the take-over bid is subject to approval by the appropriate federal agency as provided in such act;
(c)The offeror or the target company is a savings and loan holding company as defined in section two of the ''Savings and Loan Holding Company Amendments of 1967'', 12 U.S.C. 1730A, as amended, and the take-over bid is subject to approval by the appropriate federal agency as provided in such act;
(d)The offeror and the target company are banks and the offer is part of a merger transaction subject to approval by appropriate federal supervisory authorities.