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.
Completion to be by private treaty or statutory procedure.
666A(1)
A person entitled to acquire securities under section 661A or 664A must either: (a) pay, issue or transfer the consideration to the holder, take a transfer of the securities from the holder and have the company that issued the securities register the transfer; or (b) complete the procedure laid down in section 666B ;
by the end of the period referred to in subsection (2) or (3) .
Strict liability offences
666A(1A)
An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
View history note
Hide history noteTime for completing compulsory acquisition following takeover
666A(2)
For an acquisition under section 661A , the period ends 14 days after the later of: (a) the end of 1 month after the compulsory acquisition notice was lodged with ASIC under section 661B ; or (b) the end of 14 days after the last statement under section 661D was given if a request is made under that section; or (c) if an application to stop the acquisition is made to the Court under section 661E - the application is finally determined.
[ CCH Note: S 666A(2) will be amended by No 69 of 2020, s 3, Sch 1[1054], by substituting " the Registrar " for " ASIC " in para (a) (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
Time for completing compulsory acquisition under Part 6A.2
666A(3)
For an acquisition under section 664A or 664F , the period ends 14 days after the later of: (a) the end of the objection period; or (b) if an application for approval of the acquisition is made to the Court under section 664F in relation to the securities - the application is finally determined.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
