Nothing in rule 13.16A shall prevent the disposal of any interest of a controlling shareholder in the securities referred to in Rule 13.16A(1)(a) in the following circumstances:—

(1) pursuant to a pledge or charge in favour of an authorised institution (as defined in the Banking Ordinance), as security for a bona fide commercial loan;
(2) pursuant to a power of sale under the pledge or charge (granted pursuant to sub-paragraph (1));
(3) on the death of the controlling shareholder; or
(4) in any other exceptional circumstances to which the Exchange has given its prior approval.