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 6.6 - VARIATION OF OFFERS

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History

Part 6.6 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

Division 2 - Off-market bids (express variation by bidder)

SECTION 650G   CONTRACTS AND ACCEPTANCES VOID IF DEFEATING CONDITION NOT FULFILLED  

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650G     All takeover contracts, and all acceptances that have not resulted in binding takeover contracts, for an off-market bid are void if:

(a)  offers made under the bid have at any time been subject to a defeating condition; and

(b)  the bidder has not declared the offers to be free from the condition within the period before the date applicable under subsection 630(1) or (2); and

(c)  the condition has not been fulfilled at the end of the offer period.

A transfer of securities based on an acceptance or contract that is void under this section must not be registered.

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History

S 650G inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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