(a) General rule.--Except as otherwise provided in this section, this subchapter shall apply to every business combination transaction relating to a business operation if such business operation was owned by a registered corporation (or any subsidiary thereof) at the time of a control-share approval with respect to the corporation (regardless of the fact, if such be the case, that such operation after the control-share approval is owned by the registered corporation or any other person). (b) Exceptions.--This subchapter shall not apply to: (1) Any business combination transaction occurring more than five years after the control-share approval of the registered corporation. (2) Any business operation located other than in this Commonwealth.
Pennsylvania Legal Code