Commonwealth Numbered Acts

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COMPANIES (ACQUISITION OF SHARES) ACT 1980 No. 64 of 1980 - SECT 32

Part D statement
PART IV-PROVISIONS RELATING TO
TAKE-OVER ANNOUNCEMENTS
32. (1) Where a target company receives a statement that purports to be a
Part C statement served under sub-section 17 (10), the target company shall,
not later than 14 days after the relevant take-over announcement was made,
serve a Part D statement on the stock exchange that is the home exchange in
relation to that company.

(2) The Part D statement shall-

   (a)  be signed by all the directors of the target company or by not less
        than 2 directors of the target company authorized so to sign pursuant
        to a resolution passed at a meeting of the directors or, in the case
        of a company that has only one director, by that director; or

   (b)  if the company is in the course of being wound up or is under official
        management-be signed by the liquidator or official manager, as the
        case may be.

(3) A Part D statement shall not refer to any report made by an expert (other
than a report set out in the Part C statement) unless-

   (a)  the report is set out in the Part D statement; and

   (b)  the Part D statement contains or is accompanied by a statement that
        the person or each of the persons by whom the report is made consents
        to the inclusion of the report in the form and context in which it is
        included.

(4) A target company that serves a Part D statement under sub-section (1)
shall, on the day on which the Part D statement is served, lodge with the
Commission and give to the on-market offeror a copy of the Part D statement
and of any statement accompanying the Part D statement.

(5) A Part D statement may contain, in addition to the information referred to
in Part D of the Schedule, such information (not being information that is
false in a material particular or materially misleading in the form or context
in which it appears) as the directors of the target company, or the liquidator
or official manager, as the case may be, think or thinks fit. 


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