Corporations Act 2001

CHAPTER 6A - COMPULSORY ACQUISITIONS AND BUY-OUTS  

PART 6A.1 - COMPULSORY ACQUISITIONS AND BUY-OUTS FOLLOWING TAKEOVER BID  

Division 1 - Compulsory acquisition of bid class securities  

SECTION 661C   TERMS ON WHICH SECURITIES TO BE ACQUIRED  

661C(1)   Same terms as takeover bid.  

The bidder may acquire the securities only on the terms that applied to the acquisition of securities under the takeover bid immediately before:


(a) the notice under section 661B is given if it is given before the end of the offer period; or


(b) the end of the offer period if it is not.

661C(2)   Alternative forms of consideration under takeover bid.  

If alternative forms of consideration were offered under the takeover bid, the form of consideration that applies to the acquisition of the holder's securities is:


(a) the form that the holder elects; or


(b) the form set out in the compulsory acquisition notice under subsection 661B(1).

661C(3)   [ Method of election]  

The holder makes an election under subsection (2) by giving the bidder a notice of the election by the later of:


(a) 1 month after the compulsory acquisition notice is given under section 661B; or


(b) 14 days after the holder is given a statement under section 661D if the holder asks for it.

661C(4)   [ Form of election]  

The election must:


(a) comply with the conditions specified in regulations made for the purposes of this paragraph that provide for the manner of making the election; or


(b) if no such regulations are made - be in writing.


 

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