Financial Services Reform Act 2001 (122 of 2001)

Schedule 3   Other miscellaneous amendments

Part 1   Technical and other minor amendments

Corporations Act 2001

22   After subsection 650B(2)

Insert:

(2A) The person is entitled to receive the improved consideration immediately, subject to the following paragraphs:

(a) if the time for payment of the consideration in accordance with subsection 620(2) has not yet occurred, the person is not entitled to receive the improved consideration until that time;

(b) if the person has to make an election before being entitled to the improved consideration, the person is not entitled to receive the improved consideration until the later of:

(i) the time when the election is made; and

(ii) the time applicable under paragraph (a).