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CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 652
Offeror not entitled to bid for balance where takeover offer relates to proportion of offeree's shares
652. Where a takeover offer (in this section called the "relevant offer")
relating to a proportion of particular shares (in this section called the
"relevant shares") has been made to a person under a proportional takeover
scheme, an offer (other than an offer that the offeror is, by virtue of
section 649, deemed to have made) that:
(a) was or is made by the offeror before, at or after the time when the
relevant offer was made;
(b) was or is made to that person or to any other person; and
(c) relates to shares that are or include some or all of such of the
relevant shares as are not shares to which the relevant offer relates;
shall be taken to have been, or to be, as the case may be, made
otherwise than under the takeover scheme.
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