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 .

 View history note

 Hide history note

History

Ch 6 amended by No 8 of 2022, s 3, Sch 2[160] (effective 1 July 2022).

PART 6.2 - EXCEPTIONS TO THE PROHIBITION  

SECTION 613  

613   BIDDER NOT TO EXERCISE VOTING RIGHTS IF FAILURE TO SEND BIDS FOR OFF-MARKET ACQUISITION - EXCEPTION 2 OR 3  

CCH Note: Section 613 is modified by the ASIC Corporations (Takeover Bids) Instrument 2023/683; the ASIC Corporations (Warrants: Relevant Interests and Associations) Instrument 2023/687; and the ASIC Corporations (Replacement Bidder ' s and Target ' s Statements) Instrument 2023/688.

If the exception in item 2 or 3 of the table in section 611 applies to an acquisition on-market during a takeover bid, the bidder is not entitled to exercise the voting rights attached to the shares if:

(a)    the bid is an off-market bid; and

(b)    the bidder fails to send offers under the bid within 28 days after giving the bidder's statement to the target.

[ CCH Note: There is no section 614.]

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.