THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 6 - TAKEOVERS
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) [Power to extend offer period] A bidder making an off-market bid may extend the offer period at any time before the end of the offer period. 650C(2) [Effect of defeating condition] 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.This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.