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 .

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History

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

PART 6.10 - REVIEW AND INTERVENTION  

Division 2 - The Takeovers Panel  

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CCH Note: Division 2 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.

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History

Div 2 heading substituted by No 122 of 2001, s 3, Sch 3, Pt 1 [ 23] (effective 27 September 2001).

Subdivision B - Unacceptable circumstances  

CCH Note: Subdivision B 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.

SECTION 657G   ORDERS BY THE COURT WHERE CONTRAVENTION OR PROPOSED CONTRAVENTION OF TAKEOVERS PANEL ORDER  

CCH Note: Section 657G 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.

657G(1)    

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If a person contravenes, or proposes to engage in conduct that would contravene, an order made by the Takeovers Panel under section 657D or 657E , the Court may make any orders it considers appropriate to secure compliance with the Takeovers Panel ' s order, including:

(a)    1 or more remedial orders; and

(b)    an order directing a person to do, or to refrain from doing, a specified act.

Note: Section 9 defines remedial order .

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History

S 657G(1) amended by No 76 of 2023, s 3, Sch 2[615] (effective 20 October 2023).

657G(2)    
An application for an order under this section may only be made by:

(a)    ASIC; or

(b)    

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the President of the Takeovers Panel; or

(c)    

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a person to whom the Takeovers Panel ' s order relates; or

(d)    

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a person who was a party to the proceedings in which the Takeovers Panel ' s order was made.

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History

S 657G(2) amended by No 76 of 2023, s 3, Sch 2[615] (effective 20 October 2023).

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