Corporations Act 2001

CHAPTER 6 - TAKEOVERS  

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 .

PART 6.10 - REVIEW AND INTERVENTION  

Division 1 - ASIC ' s power to exempt and modify  

SECTION 655B   NOTICE OF DECISION AND REVIEW RIGHTS  

655B(1)    
Subject to subsection (2) , ASIC must take such steps as are reasonable in the circumstances to give to each person whose interests are affected by a decision under section 655A a notice, in writing or otherwise:

(a)    of the making of the decision; and

(b)    

of the person ' s right to have the decision reviewed by the Takeovers Panel under section 656A .

655B(2)    
Subsection (1) does not require ASIC to give notice to a person affected by the decision or to the persons in a class of persons affected by the decision, if ASIC determines that giving notice to the person or persons is not warranted, having regard to:

(a)    the cost of giving notice to the person or persons; and

(b)    the way in which the interests of the person or persons are affected by the decision.

655B(3)    
A failure to comply with this section does not affect the validity of the decision.


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