THE CORPORATIONS LAW

CHAPTER 6 - TAKEOVERS

PART 6.5 - THE TAKEOVER PROCEDURE

Division 4 - Updating and correcting the bidder's statement and target's statement

SECTION 643   SUPPLEMENTARY BIDDER'S STATEMENT  

643     If a bidder becomes aware of:

(a)  a misleading or deceptive statement in the bidder's statement; or

(b)  an omission from the bidder's statement of information required by section 636; or

(c)  a new circumstance that:

(i) has arisen since the bidder's statement was lodged; and

(ii) would have been required by section 636 to be included in the bidder's statement if it had arisen before the bidder's statement was lodged;

that is material from the point of view of a holder of bid class securities, the bidder must prepare a supplementary bidder's statement that remedies this defect.

Note 1:

The bidder must then send and lodge the supplementary bidder's statement in accordance with section 647.

Note 2: Section 670A makes it an offence to give a bidder's statement after the bidder has become aware of a misleading or deceptive statement, omission or new circumstance that is material from the point of view of a holder of securities to whom the statement is given (unless the deficiency is corrected).

Note 3: The power to issue a supplementary bidder's statement is not limited to the situations dealt with in this section.

Note 4: This section applies to a bidder's statement that has already been previously supplemented.