Corporations Act 2001
(a) the benefit is likely to induce the person or an associate to:
(i) accept an offer under the bid; or
(ii) dispose of securities in the bid class; and
(b) the benefit is not offered to all holders of securities in the bid class under the bid. 623(1A) [ Strict liability offence]
An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
S 623(1A) inserted by No 117 of 2001, s 3, Sch 1 [ 199] (effective 15 December 2001).
For the purpose of this section, a person does not receive a benefit that is not offered under a takeover bid merely because the person sells bid class securities on-market and the takeover bid is an off-market bid or a conditional bid.623(3) [ Limits on prohibition]
(a) the variation of a takeover offer as provided by sections 649A to 650D; or
(b) an acquisition of securities through an on-market transaction; or
(c) simultaneous takeover bids for different classes of securities in the target.
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