If the owner wishes to sell the island then the Department has a pre-emptive right.
Shareholders do not have a pre-emptive right to purchase shares sold by other shareholders of the company.
That's W.'s philosophy, too - a pre-emptive right to secretly do everything from war to torture to snooping.
Southern angrily protested, arguing that it has a pre-emptive contractual right to approve any change in control.
"We are not speaking about a sale of assets where pre-emptive rights would apply," he said.
The claim to a so-called pre-emptive or anticipatory right of self-defense was denied by this country's major allies.
In Britain, current shareholders have a pre-emptive right to purchase any new shares offered for sale, with the rest sold on the market.
But during the final interview process, Speyer agreed to pay a significant premium in exchange for pre-emptive rights to the land.
The system of pre-emptive rights partly reflects the great power of the major British investment institutions in their home market.
This introduced a system whereby existing shareholders had, in some circumstances, to be afforded pre-emptive rights on an issue of further shares.