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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History

Chapter 6 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

PART 6.2 - EXCEPTIONS TO THE PROHIBITION

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History

Part 6.2 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

SECTION 615   TREATMENT OF FOREIGN HOLDERS UNDER EQUAL ACCESS ISSUE - EXCEPTION 10  

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615     The exception in item 10 of the table in section 611 applies even though the conditions set out in the item are not satisfied in respect of foreign holders of the company's securities if, under the terms of the offers:

(a)  the company must appoint a nominee for foreign holders of the company's securities who is approved by ASIC; and

(b)  the company must transfer to the nominee:

(i) the securities that would otherwise be issued to the foreign holders who accept the offer; or

(ii) the right to acquire those securities; and

(c)  the nominee must sell the securities, or those rights, and distribute to each of those foreign holders their proportion of the proceeds of the sale net of expenses.

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History

S 615 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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