language

COuld you check this please:

Germany is obliged to implement the Directive 2003/6/EC on insider dealing and market manipulation (market abuse) as well as the Commission Regulation as regards exemptions for buy-back programmes and stabilisation of financial instruments until the 12th of October 2004. It is expected that the government bill will be adopted by the German parliament in the near future. The objective of this contribution is on the one hand to analyse in how far overallotment and Greenshoe-options violate the new law against market manipulation, on the other hand the legitimacy of the exclusion of subscription rights to grant Greenshoe-Option to issuing houses.

[Tdol]

until the 12th- by the 12th
bill will be adopted- approved
and on the other hand
Greenshoe-Options