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 6A - COMPULSORY ACQUISITIONS AND BUY-OUTS

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History

Chapter 6A inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

PART 6A.1 - COMPULSORY ACQUISITIONS AND BUY-OUTS FOLLOWING TAKEOVER BID

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History

Part 6A.1 inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

Division 2 - Compulsory buy-out of bid class securities

SECTION 662A   BIDDER MUST OFFER TO BUY OUT REMAINING HOLDERS OF BID CLASS SECURITIES  

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662A(1)  (When offer must be made)  

If the bidder and their associates have relevant interests in at least 90% of the securities (by number) in the bid class at the end of the offer period, the bidder must offer to buy out the remaining holders of bid class securities in accordance with sections 662B and 662C.

662A(2)  [Exceptions]  

This section does not apply to securities that are issued:

(a)  if the takeover bid was not subject to a defeating condition - after the end of the offer period; or

(b)  if the takeover bid was subject to a defeating condition - after the notice whether the bid is free from a defeating condition or not is given under subsection 630(3).

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History

S 662A inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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