Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE, SALE AND PURCHASE OF FINANCIAL PRODUCTS  

Division 5A - Unsolicited offers to purchase financial products off-market  

SECTION 1019G   DURATION AND WITHDRAWAL OF OFFERS  

1019G(1)   [ Duration of open offer]  

An offer to which this Division applies:


(a) must remain open for at least 1 month after the date of offer; and


(b) cannot remain open for more than 12 months after the date of offer.

1019G(2)   [ Time limit on withdrawal]  

The offer may be withdrawn by the offeror at any time, but not within 1 month of the date of offer.

1019G(3)   [ Method of withdrawal]  

The offer may only be withdrawn by the offeror by sending a withdrawal document in printed or electronic form to the offeree in accordance with paragraphs 1019E(1) (a) and (b). The withdrawal document must identify the offeror and be dated.

1019G(4)   [ Ineffective withdrawal]  

A purported withdrawal of the offer contrary to subsection (2) or (3) is ineffective.


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