Corporations Act 2001

CHAPTER 6 - TAKEOVERS  

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 .

PART 6.4 - FORMULATING THE TAKEOVER OFFER  

Division 4 - Conditional offers  

SECTION 625   CONDITIONAL OFFERS - GENERAL  

Market bids

625(1)    
Offers under a market bid must be unconditional.

Off-market bids may generally be conditional

625(2)   .  

Offers under an off-market bid may be subject to conditions that are not prohibited by sections 626 to 629 .

625(3)    
If:

(a)    the consideration offered is or includes securities; and

(b)    

the offer or the bidder's statement states or implies that the securities are to be quoted on a financial market (whether in Australia or elsewhere);

the following rules apply:

(c)    the offer is subject to a condition that:

(i) an application for admission to quotation will be made within 7 days after the start of the bid period; and

(ii) permission for admission to quotation will be granted no later than 7 days after the end of the bid period;

(d)    the offer may not be freed from this condition.

Note: Section 1325A provides that a Court may make a remedial order if the condition is not satisfied.