THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 6 - TAKEOVERS
PART 6.7 - WITHDRAWAL AND SUSPENSION OF OFFERS
(i) enters into a buy-back agreement; or
(ii) resolves to approve the terms of a buy-back agreement under subsection 257C(1) or 257D(1)(d) the target or a subsidiary issues shares, or grants an option over its shares, or agrees to make such an issue or grant such an option (e) the target or a subsidiary issues, or agrees to issue, convertible notes (f) the target or a subsidiary disposes, or agrees to dispose, of the whole, or a substantial part, of its business or property (g) the target or a subsidiary charges, or agrees to charge, the whole, or a substantial part, of its business or property (h) the target or a subsidiary resolves to be wound up. 652C(2) [Power to withdraw unaccepted offers] The bidder may also withdraw unaccepted offers made under a market bid if 1 of the following happens during the bid period: (a) a liquidator or provisional liquidator of the target or of a subsidiary is appointed (b) a court makes an order for the winding up of the target or of a subsidiary (c) an administrator of the target, or of a subsidiary, is appointed under section 436A, 436B or 436C (d) the target or a subsidiary executes a deed of company arrangement (e) a receiver, or a receiver and manager, is appointed in relation to the whole, or a substantial part, of the property of the target or of a subsidiary. This is so regardless of the bidder's voting power at the time. 652C(3) [Obligation to give notice] Notice of the withdrawal must be given to each relevant securities exchange.
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