Corporations Act 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.5 - POWERS OF COURTS  

SECTION 1325B   COURT MAY ORDER BIDDER TO MAKE OFFERS  

1325B(1)  
If a bidder making a takeover bid for a class of securities contravenes section 631 by failing to make offers under the bid within time and ASIC applies for an order under this section, the Court may:


(a) order the bidder to send, to each holder of securities in that class, an offer to which the bidder's statement relates within a specified time; and


(b) make any ancillary orders it thinks appropriate including orders that the bidder:


(i) send notices setting out specified information with the offer; and

(ii) send copies of the notice within a specified period to the target and, if the target is listed, to the relevant market operator; and

(iii) lodge a copy of the notice with ASIC within a specified period.

1325B(2)  
Offers sent in accordance with an order under this section are taken to be made under a takeover bid.


 

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