Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 651

651. (1) Where:

   (a)  a takeover offer relating to a proportion of particular shares (in
        this
subsection called the "offeree's shares") in a class of shares in a company
has been made to a person under a proportional takeover scheme;

   (b)  the target company is a listed company;

   (c)  the relevant offer is accepted; and

   (d)  a proportion of the offeree's shares, being the proportion to which
        the offer does not relate, consists of an odd lot of shares or
        consists of a marketable parcel or marketable parcels of shares and an
        odd lot of shares; the offer shall, except for the purposes of
        paragraph 635 (b) and this subsection, be deemed always to have
        related to, to relate to, and to have been accepted in relation to, a
        number of shares in that class equal to the sum of:

   (e)  the number of shares of which the proportion referred to in paragraph
        (a) of this subsection consists; and

   (f)  the number of shares in that odd lot of shares.

(2) This section applies notwithstanding section 649 or 650.