Commonwealth Numbered Acts

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COMPANIES (ACQUISITION OF SHARES) ACT 1980 No. 64 of 1980 - SECT 19

Extension of time for paying consideration
19. (1) The Commission may, on application made by an offeror before the time
by which the consideration specified in the relevant take-over offer is
required by the terms of the offer to be paid or provided, fix a later time as
the time by which that consideration is to be paid or provided and, where a
later time is so fixed, the offer or, if the offer has been accepted, the
contract that resulted from the acceptance shall be deemed to be varied
accordingly.

(2) An offeror shall ensure that the consideration specified in the relevant
take-over offer is paid or provided not later than the time by which that
consideration is required by the terms of that take-over offer to be paid or
provided or, if a later time has been fixed under sub-section (1), not later
than the time so fixed. 


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