THE CORPORATIONS LAW
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
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Hide history notePART 6.4 - FORMULATING THE TAKEOVER OFFER
Division 1 - General
SECTION 618 OFFERS MUST BE FOR ALL OR A PROPORTION OF SECURITIES IN THE BID CLASS 618(1) Off-market bid. An offer for securities under an off-market bid must be an offer to buy: (a) all the securities in the bid class; or (b) a specified proportion of the securities in the bid class. The proportion specified under paragraph (b) must be the same for all holders of securities in the bid class. 618(2) Off-market bid - non-marketable parcels. If accepting an offer under an off-market bid for quoted securities would leave a person with a parcel of the securities that is less than a marketable parcel (within the meaning of the rules of the relevant securities exchange), the offer extends to that parcel. 618(3) Market bid. An offer for securities under a market bid must be an offer to buy all the securities in the bid class.This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.