(1) An expert's report under section 663B, 664C or 665B must:
- (a)
- be
prepared by a person nominated by ASIC under section 667AA; and
- (b)
- state whether, in the expert's opinion, the terms proposed in the notice
give a fair value for the securities concerned; and
- (c)
- set out the reasons for forming that opinion.
- Note: See section 667C on valuation.
(2) If the person giving the compulsory acquisition notice is relying on
paragraph 664A(2)(c) to give the notice, the expert's report under
section 664C must also:
- (a)
- state whether, in the expert's opinion, the
person (either alone or together with a related body corporate) has full
beneficial ownership in at least 90% by value of all the securities of the
company that are shares or convertible into shares; and
- (b)
- set out the reasons for forming that opinion.
(3) If the person giving the compulsory acquisition notice obtains 2 or more
reports, each of which were obtained for the purposes of that notice, a copy
of each report must be given to the holder of the securities.