Corporations Act 2001
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: Division 3 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.
CCH Note: Section 639 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.
Approval
639(1)
The copy of the target ' s statement that is lodged with ASIC must be approved by: (a) if paragraphs (b) and (c) do not apply - a resolution passed by the directors of the target; or (b) for a target that is under administration - the liquidator or administrator; or (c) for a target that has executed a deed of company arrangement that has not yet terminated - the deed ' s administrator.
[ CCH Note: S 639(1) will be amended by No 69 of 2020, s 3, Sch 1[1000], by substituting " the Registrar " for " ASIC " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
Date
639(2)
The target ' s statement must be dated. The date is the date on which it is lodged with ASIC.
[ CCH Note: S 639(2) will be amended by No 69 of 2020, s 3, Sch 1[1000], by substituting " the Registrar " for " ASIC " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
Strict liability offences
639(3)
An offence based on subsection (1) or (2) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
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