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 628   CONDITIONS REQUIRING PAYMENTS TO OFFICERS OF TARGET NOT ALLOWED IN OFF-MARKET BIDS  

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628     An offer to a person under an off-market bid must not be made subject to a condition that requires the person to approve or consent to a payment or other benefit to an officer of the target or a related body corporate:

(a)  as compensation for loss of; or

(b)  as consideration in connection with retirement from;

any office or employment in connection with the management of the target or of a related body corporate. A purported requirement of this kind is void.

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History

S 628 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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