Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1325A

(1)

The Court may make any order or orders (including a remedial order) that it considers appropriate if a person:

(a)

contravenes a provision of Chapter 6, 6A, 6B or 6C; or

(b)

contravenes a condition on a consent given by ASIC under section 652B; or

(c)

states in a notice under section 672B about securities that they do not know particular information about:

(i)

the securities; or

(ii)

someone who has a relevant interest in, or has given instructions in relation to, the securities.

Note 1: Section 9 defines remedial order.

Note 2: Sections 659B and 659C deal with court proceedings during and after a takeover bid.

(2)

The Court may make any order or orders (including a remedial order) that it considers appropriate if:

(a)

the consideration offered under a takeover bid is or includes securities; and

(b)

the offers under the bid or the bidder's statement states or implies that the securities are to be quoted on a stock market of a securities exchange (whether in Australia or elsewhere) and:

(i)

an application for admission to quotation is not made within 7 days after the start of the bid period; or

(ii)

permission for admission to quotation is not granted within 7 days after the end of the bid period.

Note: Section 9 defines remedial order.

(3)

An order under this section may be made on application by the following:

(a)

ASIC

(b)

the company, or the responsible entity of the registered scheme, whose securities are involved in the contravention

(c)

a member or former member of that company or scheme

(d)

a person from whom the relevant interest in the securities were acquired

(e)

a person whose interests are affected by the contravention.