Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW
- SECT 663C

(1)

Within 1 month after notice under section 663B is given in relation to convertible securities, the holder of the convertible securities may give the bidder a notice requiring the bidder to acquire the securities.

(2)

The holder's notice gives rise to a contract between the holder and the bidder for the sale of the securities on:

(a)

the terms agreed to by the bidder and the holder; or

(b)

the terms determined by the Court on application by the holder.

(3)

If the Court makes a determination under paragraph (2)(b) in relation to the terms of sale for a holder's securities of a particular class, the determination applies to all holders of securities in that class who have applications to the Court pending for a determination under that paragraph in relation to the terms of sale of their securities.