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 4 - Conditional offers

SECTION 625   CONDITIONAL OFFERS - GENERAL  

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625(1)  Market bids.  

Offers under a market bid must be unconditional.

625(2)  Off-market bids may generally be conditional.  

Offers under an off-market bid may be subject to conditions that are not prohibited by sections 626 to 629.

625(3)  [Rules in relation to quoted securities]  

If:

(a)  the consideration offered is or includes securities; and

(b)  the offer or the bidder's statement states or implies that the securities are to be quoted on a stock market of a securities exchange (whether in Australia or elsewhere);

the following rules apply:

(c)  the offer is subject to a condition that:

(i) an application for admission to quotation will be made within 7 days after the start of the bid period; and

(ii) permission for admission to quotation will be granted no later than 7 days after the end of the bid period

(d)  the offer may not be freed from this condition.

Note:

Section 1325A provides that a Court may make a remedial order if the condition is not satisfied.

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History

S 625 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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