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 6.10 - REVIEW AND INTERVENTION

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History

Part 6.10 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

Division 1 - ASIC's power to exempt and modify

SECTION 655B   NOTICE OF DECISION AND REVIEW RIGHTS  

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655B(1)  [Obligation to notify]  

Subject to subsection (3), ASIC must take such steps as are reasonable in the circumstances to give to each person whose interests are affected by a decision under a section 655A notice, in writing or otherwise:

(a)  of the making of the decision; and

(b)  of the person's right to have the decision reviewed by the Panel under section 656A.

655B(2)  [Exceptions]  

Subsection (1) does not require ASIC to give notice to a person affected by the decision or to the persons in a class of persons affected by the decision, if ASIC determines that giving notice to the person or persons is not warranted, having regard to:

(a)  the cost of giving notice to the person or persons; and

(b)  the way in which the interests of the person or persons are affected by the decision.

655B(3)  [Validity of decision]  

A failure to comply with this section does not affect the validity of the decision.

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History

S 655B inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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