THE CORPORATIONS LAW

CHAPTER 2J - TRANSACTIONS AFFECTING SHARE CAPITAL

PART 2J.1 - SHARE CAPITAL REDUCTIONS AND SHARE BUY-BACKS

Division 2 - Share buy-backs

SECTION 257F   NOTICE OF INTENDED BUY-BACK  

257F(1)  [When to lodge]  

If section 257B applies this section to a buy-back, the company must satisfy the lodgment requirement in subsection (2) at least 14 days before:

(a)  if the buy-back agreement is conditional on the passing of a resolution under subsection 257C(1) or 257D(1) - the resolution is passed; or

(b)  if it is not - the agreement is entered into.

257F(2)  [Notice to be lodged]  

The company satisfies the lodgment requirement when it lodges with ASIC:

(a)  documents under subsection 257C(3) or 257D(3) or section 257E; or

(b)  a notice that the company intends to carry out the buy-back.

Note 1:

A company that has to lodge documents under section 257C, 257D or 257E needs to lodge a notice under paragraph (2)(b) of this section only if it wants for some reason to enter into the agreement or pass the resolution less than 14 days after lodging the section 257C, 257D or 257E documents.

Note 2:

The company may specify a buy-back under paragraph (2)(b) in any way. It may, for instance, choose to lodge a notice covering buy-backs to be carried out:

•  under a particular scheme; or

•  as part of particular on-market buy-back activity.