Corporations Act 2001
A supplementary bidder ' s statement must be sent to the target as soon as practicable. 647(2)
A supplementary target ' s statement must be sent to the bidder as soon as practicable. 647(3)
Either kind of supplementary statement must as soon as practicable be: (a) lodged with ASIC; and (b) (c) if the bid is an off-market bid and the bid class securities are not quoted - sent to all holders of bid class securities who have not accepted an offer under the bid.
[ CCH Note: S 647(3) will be amended by No 69 of 2020, s 3, Sch 1, by substituting " the Registrar " for " ASIC " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
[ CCH Note: S 647(3A) will be inserted by No 69 of 2020, s 3, Sch 1 (effective 1 July 2026 or a day or days to be fixed by Proclamation). S 647(3A) will read:
Lodgement of a supplementary statement must meet any requirements of the data standards.]
An offence based on subsection (1) , (2) or (3) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .