Financial Services Reform Act 2001 (122 of 2001)
Schedule 1 Financial Services and Markets
Part 2 Consequential amendments
Corporations Act 2001
350 Subsection 257B(7)
Repeal the subsection, substitute:
(7) A buy-back by a company (whether listed or not) is also an on-market buy-back if it results from an offer made in the ordinary course of trading in a financial market outside Australia which ASIC declares in writing to be an approved overseas financial market for the purposes of this subsection. A buy-back by a listed company is an on-market buy-back under this subsection only if an offer to buy-back those shares is also made on a prescribed financial market at the same time.
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