THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82
The Corporations Law is as follows:...

SECTION 617 SECURITIES COVERED BY THE BID

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617(1) Off-market bid.

An off-market bid must relate to securities:

(a) in a class of securities (the bid class ); and

(b) that exist or will exist as at the date set by the bidder under subsection 633(2).

Subsection 92(3) defines securities for the purposes of this Chapter.

617(2) (Effect of conversion or conferral)

If other securities exist or will exist at that date that:

(a) will convert, or may be converted, to securities in the bid class; or

(b) confer rights to be issued securities in the bid class;

the bid may extend to securities that come to be in the bid class during the offer period due to a conversion or exercise of the rights.

The bidder's statement must say if the bid is extended in this way (see paragraph 636(1)(j)).

617(3) Market bid.

A market bid must relate to securities:

(a) in a class of quoted securities (the bid class ); and

(b) that exist or will exist at any time during the offer period.