Corporations Act 2001
Modifying legislative instruments: The application of Ch 6A is affected by the following legislative instruments that commenced on or after 1 January 2022: ASIC Corporations (Compulsory Acquisitions and Buyouts) Instrument 2023/684.
For legislative instruments or class orders before 1 January 2022 that affect the application of Ch 6A, 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.
Same terms as takeover bid
661C(1)
The bidder may acquire the securities only on the terms that applied to the acquisition of securities under the takeover bid immediately before: (a) the notice under section 661B is given if it is given before the end of the offer period; or (b) the end of the offer period if it is not.
Alternative forms of consideration under takeover bid
661C(2)
If alternative forms of consideration were offered under the takeover bid, the form of consideration that applies to the acquisition of the holder's securities is: (a) the form that the holder elects; or (b) the form set out in the compulsory acquisition notice under subsection 661B(1) .
661C(3)
The holder makes an election under subsection (2) by giving the bidder a notice of the election by the later of: (a) 1 month after the compulsory acquisition notice is given under section 661B ; or (b) 14 days after the holder is given a statement under section 661D if the holder asks for it.
661C(4)
The election must: (a) comply with the conditions specified in regulations made for the purposes of this paragraph that provide for the manner of making the election; or (b) if no such regulations are made - be in writing.
View history note
Hide history noteModifying legislative instruments: Section 661C is modified by the following legislative instruments that commenced on or after 1 January 2022: ASIC Corporations (Compulsory Acquisitions and Buyouts) Instrument 2023/684.
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