CORPORATIONS ACT 2001

CHAPTER 6 - TAKEOVERS  

PART 6.4 - FORMULATING THE TAKEOVER OFFER  

Division 1 - General  

SECTION 618   OFFERS MUST BE FOR ALL OR A PROPORTION OF SECURITIES IN THE BID CLASS  

618(1)   Off-market bid.  

An offer for securities under an off-market bid must be an offer to buy:


(a) all the securities in the bid class; or


(b) a specified proportion of the securities in the bid class.

The proportion specified under paragraph (b) must be the same for all holders of securities in the bid class.

618(2)   Off-market bid - non-marketable parcels.  

If accepting an offer under an off-market bid for quoted securities would leave a person with a parcel of the securities that is less than a marketable parcel (within the meaning of the rules of the relevant financial market), the offer extends to that parcel.

618(3)   Market bid.  

An offer for securities under a market bid must be an offer to buy all the securities in the bid class.


 

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.