Corporations Act 2001
CCH note - modifying legislative instruments: The application of Ch 6 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Takeover Bids) Instrument 2023/683; the ASIC Corporations (Warrants: Relevant Interests and Associations) Instrument 2023/687; the ASIC Corporations (Replacement Bidder ' s and Target ' s Statements) Instrument 2023/688; and the ASIC Corporations (Relief to Facilitate Admission of Exchange Traded Funds) Instrument 2024/147.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Ch 6, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
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 .
View history note
Hide history noteCCH note: This provision is modified by legislative instruments. See the CCH note at the end of the provision for details.
A supplementary bidder ' s statement must be sent to the target as soon as practicable.
647(2)
A supplementary target ' s statement must be sent to the bidder as soon as practicable.
647(3)
Either kind of supplementary statement must as soon as practicable be: (a) lodged with ASIC; and (b) if the bid class securities are quoted and the target is listed - sent to the operator of each declared financial market on which the target's securities are quoted; and (c) if the bid is an off-market bid and the bid class securities are not quoted - sent to all holders of bid class securities who have not accepted an offer under the bid.
Note: Sections 648B and 648C provide for the manner in which documents may be sent to holders.
[ CCH Note: S 647(3) will be amended by No 69 of 2020, s 3, Sch 1[1005], by substituting " the Registrar " for " ASIC " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
[ CCH Note: S 647(3A) will be inserted by No 69 of 2020, s 3, Sch 1[1006] (effective 1 July 2026 or a day or days to be fixed by Proclamation). S 647(3A) will read:
647(3A)
Lodgement of a supplementary statement must meet any requirements of the data standards.]
647(4)
An offence based on subsection (1) , (2) or (3) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
CCH Note - modifying legislative instruments: Section 647 is modified by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Replacement Bidder ' s and Target ' s Statements) Instrument 2023/688.
For modifying legislative instruments or class orders before 1 January 2022, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
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