THE CORPORATIONS LAW

CHAPTER 6A - COMPULSORY ACQUISITIONS AND BUY-OUTS

PART 6A.1 - COMPULSORY ACQUISITIONS AND BUY-OUTS FOLLOWING TAKEOVER BID

Division 1 - Compulsory acquisition of bid class securities

SECTION 661C   TERMS ON WHICH SECURITIES TO BE ACQUIRED  

661C(1)  Same terms as takeover bid.  

The bidder may acquire the securities only on the terms that applied to the acquisition of securities under the takeover bid immediately before:

(a)  the notice under section 661B is given if it is given before the end of the offer period; or

(b)  the end of the offer period if it is not.

661C(2)  Alternative forms of consideration under takeover bid.  

If alternative forms of consideration were offered under the takeover bid, the form of consideration that applies to the acquisition of the holder's securities is:

(a)  the form that the holder elects; or

(b)  the form set out in the compulsory acquisition notice under subsection 661B(1).

661C(3)  [Method of election]  

The holder makes an election under subsection (2) by giving the bidder a notice of the election by the later of:

(a)  1 month after the compulsory acquisition notice is given under section 661B; or

(b)  14 days after the holder is given a statement under section 661D if the holder asks for it.

661C(4)  [Form of election]  

The election must be:

(a)  in an electronic form approved by the SCH business rules for the purposes of this Part if it relates to shares that are entered on an SCH subregister; or

(b)  in writing if it relates to shares that are not entered on an SCH subregister.