Corporations Act 2001

CHAPTER 6 - TAKEOVERS  

PART 6.5 - THE TAKEOVER PROCEDURE  

Division 4 - Updating and correcting the bidder's statement and target's statement  

SECTION 647   TO WHOM SUPPLEMENTARY STATEMENT MUST BE SENT  

647(1)  
A supplementary bidder ' s statement must be sent to the target as soon as practicable.

647(2)  
A supplementary target ' s statement must be sent to the bidder as soon as practicable.

647(3)  
Either kind of supplementary statement must as soon as practicable be:


(a) lodged with ASIC; and


(b) if the bid class securities are quoted and the target is listed - sent to the operator of each prescribed financial market on which the target's securities are quoted; and


(c) if the bid is an off-market bid and the bid class securities are not quoted - sent to all holders of bid class securities who have not accepted an offer under the bid.

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

647(4)  


An offence based on subsection (1), (2) or (3) is an offence of strict liability.

Note: For strict liability , see section 6.1 of the Criminal Code .


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