Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 696

696. (1) In this section:

"company" means a company that is not a listed company;

"notifiable percentage" means:

   (a)  25%;

   (b)  50%;

   (c)  75%; or

   (d)  90%;

"relevant period", in relation to a company on which a Part A statement has
been served, means:

   (a)  the takeover period; and

   (b)  if takeover offers are sent, in accordance with an order under
        section 738, pursuant to the statement-the offer period;

"relevant person", in relation to a relevant period in relation to a company,
means the person who is, or each of the persons who constitute, the offeror in
relation to the Part A statement concerned.

(2) Where:

   (a)  at a particular time during a relevant period in relation to a
        company, the percentage of the voting shares in the company to which a
        relevant person is entitled is less than a notifiable percentage; and

   (b)  immediately after that time, the percentage of the voting shares in
        the company to which the relevant person is entitled is equal to or
        greater than that notifiable percentage; the relevant person shall, as
        soon as practicable, and in any event before the end of 2 business
        days after the day in which that time occurred, serve on the company a
        notice setting out the percentage of the voting shares in the company
        to which the relevant person is entitled when the notice is served.

(3) Where a company receives a notice under subsection (2), it shall make the
notice available at its registered office for inspection without charge by any
member of the company at any time during the remainder of the relevant period
in relation to the company when the registered office is open.