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.4 - EXPERTS' REPORTS AND VALUATIONS

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Part 6A.4 inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

SECTION 667A   EXPERT'S REPORT  

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667A(1)  (Content of report)  

An expert's report under section 663B, 664C or 665B must:

(a)  be prepared by a person nominated by ASIC under section 667AA; and

(b)  state whether, in the expert's opinion, the terms proposed in the notice give a fair value for the securities concerned; and

(c)  set out the reasons for forming that opinion.

Note:

See section 667C on valuation.

667A(2)  (Further details required)  

If the person giving the compulsory acquisition notice is relying on paragraph 664A(2)(c) to give the notice, the expert's report under section 664C must also:

(a)  state whether, in the expert's opinion, the person (either alone or together with a related body corporate) has full beneficial ownership in at least 90% by value of all the securities of the company that are shares or convertible into shares; and

(b)  set out the reasons for forming that opinion.

667A(3)  [2 or more reports]  

If the person giving the compulsory acquisition notice obtains 2 or more reports, each of which were obtained for the purposes of that notice, a copy of each report must be given to the holder of the securities.

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History

S 667A inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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