Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW
- SECT 617

Off-market bid

(1)

An off-market bid must relate to securities:

(a)

in a class of securities (the bid class ); and

(b)

that exist or will exist as at the date set by the bidder under subsection 633 (2).

Note: Subsection 92(3) defines securities for the purposes of this Chapter.

(2)

If other securities exist or will exist at that date that:

(a)

will convert, or may be converted, to securities in the bid class; or

(b)

confer rights to be issued securities in the bid class;

the bid may extend to securities that come to be in the bid class during the offer period due to a conversion or exercise of the rights.

Note: The bidder's statement must say if the bid is extended in this way (see paragraph 636(1)(j)).

Market bid

(3)

A market bid must relate to securities:

(a)

in a class of quoted securities (the bid class ); and

(b)

that exist or will exist at any time during the offer period.