Corporations Act 2001
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 noteCCH 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.
CCH Note: Section 650C 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.
A bidder making an off-market bid may extend the offer period at any time before the end of the offer period.
650C(2)
If the bid is subject to a defeating condition, the bidder may extend the offer period after the publication of the notice under subsection 630(3) only if one of the following happens after the publication: (a) another person lodges with ASIC a bidder ' s statement for a takeover bid for securities in the bid class; (b) another person announces a takeover bid for securities in the bid class; (c) another person makes offers under a takeover bid for securities in the bid class; (d) the consideration for offers under another takeover bid for securities in the bid class is improved.
Note: Section 624 says how long the total offer period can be.
[ CCH Note: S 650C(2) will be amended by No 69 of 2020, s 3, Sch 1[1010], by substituting " the Registrar " for " ASIC " in para (a) (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
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