Corporations Act 2001

CHAPTER 6 - TAKEOVERS  

Note: This Chapter only applies to acquisitions of interests in a CCIV if the CCIV is a listed company: see Division 1 of Part 8B.7 .

PART 6.6 - VARIATION OF OFFERS  

Division 2 - Off-market bids (express variation by bidder)  

SECTION 650C   OFF-MARKET BIDS - EXTENSION OF OFFER PERIOD  

650C(1)    
A bidder making an off-market bid may extend the offer period at any time before the end of the offer period.

650C(2)    
If the bid is subject to a defeating condition, the bidder may extend the offer period after the publication of the notice under subsection 630(3) only if one of the following happens after the publication:

(a)    another person lodges with ASIC a bidder ' s statement for a takeover bid for securities in the bid class;

(b)    another person announces a takeover bid for securities in the bid class;

(c)    another person makes offers under a takeover bid for securities in the bid class;

(d)    the consideration for offers under another takeover bid for securities in the bid class is improved.

Note: Section 624 says how long the total offer period can be.



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