Corporations Act 2001
CHAPTER 6
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TAKEOVERS
PART 6.2
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EXCEPTIONS TO THE PROHIBITION
SECTION 613
613
BIDDER NOT TO EXERCISE VOTING RIGHTS IF FAILURE TO SEND BIDS FOR OFF-MARKET ACQUISITION
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EXCEPTION 2 OR 3
If the exception in item 2 or 3 of the table in section 611 applies to an acquisition on-market during a takeover bid, the bidder is not entitled to exercise the voting rights attached to the shares if: (a) the bid is an off-market bid; and (b) the bidder fails to send offers under the bid within 28 days after giving the bidder's statement to the target.
Note: This Chapter only applies to acquisitions of interests in a CCIV if the CCIV is a listed company: see Division 1 of Part 8B.7 .
View history note
Hide history noteCCH Note: Section 613 is modified by the ASIC Corporations (Takeover Bids) Instrument 2023/683; the ASIC Corporations (Warrants: Relevant Interests and Associations) Instrument 2023/687; and the ASIC Corporations (Replacement Bidder ' s and Target ' s Statements) Instrument 2023/688.
If the exception in item 2 or 3 of the table in section 611 applies to an acquisition on-market during a takeover bid, the bidder is not entitled to exercise the voting rights attached to the shares if: (a) the bid is an off-market bid; and (b) the bidder fails to send offers under the bid within 28 days after giving the bidder's statement to the target.
[ CCH Note: There is no section 614.]
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