CORPORATIONS ACT 2001

CHAPTER 6 - TAKEOVERS  

PART 6.5 - THE TAKEOVER PROCEDURE  

Division 3 - The target's response  

SECTION 639   TARGET'S STATEMENT FORMALITIES  

639(1)   Approval.  

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.

639(2)   Date.  

The target's statement must be dated. The date is the date on which it is lodged with ASIC.

639(3)   Strict liability offences.  

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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