THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 9 - MISCELLANEOUS
PART 9.5 - POWERS OF COURTS
SECTION 1325A ORDERS IF CONTRAVENTION OF CHAPTER 6, 6A, 6B OR 6C 1325A(1) [Power of Court to make orders about person contravening] The Court may make any order or orders (including a remedial order) that it considers appropriate if a person: (a) contravenes a provision of Chapter 6, 6A, 6B or 6C; or (b) contravenes a condition on a consent given by ASIC under section 652B; or (c) states in a notice under section 672B about securities that they do not know particular information about:(i) the securities; or
(ii) someone who has a relevant interest in, or has given instructions in relation to, the securities.
Note 1:
Section 9 defines remedial order .Note 2:
Sections 659B and 659C deal with court proceedings during and after a takeover bid. 1325A(2) [Power of Court to make orders about takeover bid] The Court may make any order or orders (including a remedial order) that it considers appropriate if: (a) the consideration offered under a takeover bid is or includes securities; and (b) the offers under the bid or the bidder's statement states or implies that the securities are to be quoted on a stock market of a securities exchange (whether in Australia or elsewhere) and:(i) an application for admission to quotation is not made within 7 days after the start of the bid period; or
(ii) permission for admission to quotation is not granted within 7 days after the end of the bid period.
Note:
Section 9 defines remedial order . 1325A(3) [Who may make application] An order under this section may be made on application by the following: (a) ASIC (b) the company, or the responsible entity of the registered scheme, whose securities are involved in the contravention (c) a member or former member of that company or scheme (d) a person from whom the relevant interest in the securities were acquired (e) a person whose interests are affected by the contravention.This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.