CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 6 - TAKEOVERS
History
Chapter 6 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).
PART 6.9 - OTHER ACTIVITIES DURING THE BID PERIOD
History
Part 6.9 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).
SECTION 654A
BIDDER NOT TO DISPOSE OF SECURITIES DURING THE BID PERIOD
654A(1)
(Prohibition on disposal)
The bidder must not dispose of any securities in the bid class during the bid period.
654A(2)
[Exception]
Subsection
(1) does not apply to a disposal of securities by the bidder if:
(a)
someone else who is not an associate of the bidder makes an offer, or improves the consideration offered, under a takeover bid for securities in the bid class after the bidder's statement is given to the target; and
(b)
the bidder disposes of the securities after the offer is made or the consideration is improved.
History
S 654A inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).
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