Corporations Act 2001
CHAPTER 6A
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COMPULSORY ACQUISITIONS AND BUY-OUTS
PART 6A.2
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GENERAL COMPULSORY ACQUISITIONS AND BUY-OUTS
Division 1
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Compulsory acquisition of securities by 90% holder
SECTION 664B
THE TERMS FOR COMPULSORY ACQUISITION
664B(1)
The 90% holder may acquire the securities in the class for a cash sum only and, subject to subsection (2) , must pay the same amount for each security in the class acquired.
664B(2)
The 90% holder may pay different amounts for the securities in the class acquired if the differences are attributable to either or both of the following: (a) the fact that there are differences in the accrued dividend or distribution entitlements of the securities; (b) the fact that there are differences in the amounts paid up, or that remain unpaid, on the securities.
Modifying legislative instruments: The application of Ch 6A is affected by the following legislative instruments that commenced on or after 1 January 2022: ASIC Corporations (Compulsory Acquisitions and Buyouts) Instrument 2023/684.
For legislative instruments or class orders before 1 January 2022 that affect the application of Ch 6A, 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.
The 90% holder may acquire the securities in the class for a cash sum only and, subject to subsection (2) , must pay the same amount for each security in the class acquired.
View history note
Hide history note664B(2)
The 90% holder may pay different amounts for the securities in the class acquired if the differences are attributable to either or both of the following: (a) the fact that there are differences in the accrued dividend or distribution entitlements of the securities; (b) the fact that there are differences in the amounts paid up, or that remain unpaid, on the securities.
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