THE CORPORATIONS LAW

CHAPTER 6B - RIGHTS AND LIABILITIES IN RELATION TO CHAPTER 6 AND 6A MATTERS

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SECTION 670C   PEOPLE LIABLE ON TAKEOVER OR COMPULSORY ACQUISITION STATEMENT TO INFORM MAKER ABOUT DEFICIENCIES IN THE STATEMENT  

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670C(1)  [Obligation to notify issuer]  

A person referred to in the table in subsection 670B(1) in relation to a document must notify the issuer of the document in writing as soon as practicable if they become aware during the bid period or objection period that:

(a)  a material statement in the document is misleading or deceptive; or

(b)  there is a material omission from the document of information required by section 636, 638 or 640; or

(c)  a material new circumstance that:

(i) has arisen since the document was lodged; and
(ii) would have been required by section 636, 638 or 640 to be included in the document if it had arisen before the document was lodged.

670C(2)  [Target expert's obligation]  

An expert whose report accompanies, or is included in, a target's statement under section 640 must notify the target in writing as soon as practicable if they become aware during the takeover period that:

(a)  a material statement in the report is misleading or deceptive; or

(b)  there has been a significant change affecting information included in the report.

670C(3)  [Bidder expert's obligation]  

An expert whose report accompanies, or is included in, a bidder's statement under subsection 636(2) must notify the bidder in writing as soon as practicable if they become aware during the takeover period that:

(a)  a material statement in the report is misleading or deceptive; or

(b)  there has been a significant change affecting information included in the report.

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