Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW
- SECT 654C

(1)

A bidder making a bid for securities of an unlisted company must give the target a notice stating the bidder's voting power in the target if, at a particular time during the bid period, the bidder's voting power in the target rises from below a percentage in the following list to that percentage or higher:

(a)

25%

(b)

50%

(c)

75%

(d)

90%.

(2)

The notice must be given as soon as practicable, and in any event within 2 business days, after the rise in voting power occurred.

(3)

The target must:

(a)

make the notice available at its registered office for inspection without charge by any holder of bid class securities during the bid period; and

(b)

lodge the notice with ASIC.