THE CORPORATIONS LAW

CHAPTER 6A - COMPULSORY ACQUISITIONS AND BUY-OUTS

PART 6A.2 - GENERAL COMPULSORY ACQUISITIONS AND BUY-OUTS

Division 3 - Notice that person has become 85% holder of a class of securities

SECTION 665E   NOTICE BY COMPANY TO OTHER MEMBERS  

665E(1)  Company to notify members.  

A company that is given a notice by a person under section 665D in relation to a class of securities must notify its members in writing that:

(a)  the person:

(i) has become an 85% holder in relation to the class; or

(ii) continues to be an 85% holder in relation to the class; and

(b)  the person will be able to acquire the securities in that class under this Part if the person becomes a 90% holder in relation to that class.

665E(2)  Time for notifying members.  

The company must notify its members before, or at the same time as, whichever of the following it first gives to its members after the company is given the notice under section 665D:

(a)  a notice under another provision of this Law

(b)  a report under a provision of this Law.

665E(3)  Information about 85% holder to be prominent if included in other material given to members.  

If a company notifies its members under this section by including the information referred to in paragraphs (1)(a) and (b) in:

(a)  a notice given to members under another provision of this Law; or

(b)  a report given to members under a provision of this Law;

the information must appear prominently in the notice or report.