Corporations Act 2001

CHAPTER 6 - TAKEOVERS  

Note: This Chapter only applies to acquisitions of interests in a CCIV if the CCIV is a listed company: see Division 1 of Part 8B.7 .

PART 6.4 - FORMULATING THE TAKEOVER OFFER  

Division 1 - General  

SECTION 617   SECURITIES COVERED BY THE BID  

Off-market bid

617(1)    
An off-market bid must relate to securities:

(a)    

in a class of securities (the bid class); and

(b)    that exist or will exist as at the date set by the bidder under subsection 633(2).

Note: Subsection 92(3) defines securities for the purposes of this Chapter.

617(2)    
If other securities exist or will exist at that date that:

(a)    will convert, or may be converted, to securities in the bid class; or

(b)    confer rights to be issued securities in the bid class;

the bid may extend to securities that come to be in the bid class during the offer period due to a conversion or exercise of the rights.

Note: The bidder's statement must say if the bid is extended in this way (see paragraph 636(1)(j) ).

Market bid

617(3)    
A market bid must relate to securities:

(a)    

in a class of quoted securities (the bid class); and

(b)    that exist or will exist at any time during the offer period.