Corporations Act 2001
CCH note - modifying legislative instruments: The application of Ch 6 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Takeover Bids) Instrument 2023/683; the ASIC Corporations (Warrants: Relevant Interests and Associations) Instrument 2023/687; the ASIC Corporations (Replacement Bidder ' s and Target ' s Statements) Instrument 2023/688; and the ASIC Corporations (Relief to Facilitate Admission of Exchange Traded Funds) Instrument 2024/147.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Ch 6, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
Note: This Chapter only applies to acquisitions of interests in a CCIV if the CCIV is a listed company: see Division 1 of Part 8B.7 .
View history note
Hide history noteASIC may: (a) exempt a person from a provision of this Chapter; or (b) declare that this Chapter applies to a person as if specified provisions were omitted, modified or varied as specified in the declaration.
Note: Under section 656A , the Takeovers Panel has power to review the exercise by ASIC of its powers under this section.
655A(2)
In deciding whether to give the exemption or declaration, ASIC must consider the purposes of this Chapter set out in section 602 .
655A(3)
The exemption or declaration may: (a) apply to all or specified provisions of this Chapter; and (b) apply to all persons, specified persons, or a specified class of persons; and (c) relate to all securities, specified securities or a specified class of securities; and (d) relate to any other matter generally or as specified.
655A(4)
An exemption may apply unconditionally or subject to specified conditions. A person to whom a condition specified in an exemption applies must comply with the condition. The Court may order the person to comply with the condition in a specified way. Only ASIC may apply to the Court for the order.
655A(5)
The exemption or declaration must be in writing and ASIC must publish notice of it in the Gazette .
655A(6)
For the purposes of this section, the provisions of this Chapter include: (a) regulations made for the purposes of this Chapter; and (b) definitions in this Act or the regulations as they apply to references in:
(i) this Chapter; or
(c) the old Division 12 of Part 11.2 transitionals.
(ii) regulations made for the purposes of this Chapter; and
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.