Financial Services Reform Act 2001 (122 of 2001)

Schedule 1   Financial Services and Markets

Part 2   Consequential amendments

Corporations Act 2001

382   Section 635 (table items 10 to 14)

Repeal the items, substitute:

10

The target must send a copy of the target’s statement to the relevant market operator.

Within 14 days after the announcement is made

11

The target must send to the bidder:

· a copy of the target’s statement; and

· a copy of any other document that was sent with the target’s statement to the relevant market operator.

To be done on the day the target sends a copy of the target’s statement to the relevant market operator

12

The target must lodge with ASIC:

· a copy of the target’s statement; and

· a copy of any other document that was sent with the target’s statement to the relevant market operator.

To be done on the day the target sends a copy of the target’s statement to the relevant market operator

13

The target must send each holder of bid class securities:

· a copy of the target’s statement; and

· a copy of any other document that was sent with the target’s statement to the relevant market operator.

Within 14 days after the announcement is made.

Sections 648B and 648C provide for the manner in which documents may be sent to holders.

14

The bidder must make offers for the securities under the bid through the relevant financial market.

To be done on the next day after the end of the 14 day period referred to in item 13.

If the bidder does not make the offers at that time, the bidder contravenes this section.

Item 2 of the table in section 611 covers offers made by the bidder on market during the 14 day period between the announcement and the making of the offers under the bid