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 6.4 - FORMULATING THE TAKEOVER OFFER

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History

Part 6.4 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

Division 1 - General

SECTION 617   SECURITIES COVERED BY THE BID  

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617(1)  Off-market bid.  

An off-market bid must relate to securities:

(a)  in a class of securities (the bid class ); and

(b)  that exist or will exist as at the date set by the bidder under subsection 633(2).

Note:

Subsection 92(3) defines securities for the purposes of this Chapter.

617(2)  (Effect of conversion or conferral)  

If other securities exist or will exist at that date that:

(a)  will convert, or may be converted, to securities in the bid class; or

(b)  confer rights to be issued securities in the bid class;

the bid may extend to securities that come to be in the bid class during the offer period due to a conversion or exercise of the rights.

Note:

The bidder's statement must say if the bid is extended in this way (see paragraph 636(1)(j)).

617(3)  Market bid.  

A market bid must relate to securities:

(a)  in a class of quoted securities (the bid class ); and

(b)  that exist or will exist at any time during the offer period.

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History

S 617 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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