Corporations Act 2001

CHAPTER 6A - COMPULSORY ACQUISITIONS AND BUY-OUTS  

PART 6A.2 - GENERAL COMPULSORY ACQUISITIONS AND BUY-OUTS  

Division 1 - Compulsory acquisition of securities by 90% holder  

CCH Note: Division 1 is modified by the ASIC Corporations (Takeover Bids) Instrument 2023/683; and the ASIC Corporations (Compulsory Acquisitions and Buyouts) Instrument 2023/684.

SECTION 664B   THE TERMS FOR COMPULSORY ACQUISITION  

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CCH Note: Section 664B is modified by the ASIC Corporations (Takeover Bids) Instrument 2023/683; and the ASIC Corporations (Compulsory Acquisitions and Buyouts) Instrument 2023/684.

664B(1)    
The 90% holder may acquire the securities in the class for a cash sum only and, subject to subsection (2) , must pay the same amount for each security in the class acquired.

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History

S 664B(1) amended by No 122 of 2001, s 3, Sch 3, Pt 1 [ 24].

664B(2)    

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The 90% holder may pay different amounts for the securities in the class acquired if the differences are attributable to either or both of the following:

(a)    the fact that there are differences in the accrued dividend or distribution entitlements of the securities;

(b)    the fact that there are differences in the amounts paid up, or that remain unpaid, on the securities.

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History

S 664B(2) inserted by No 122 of 2001, s 3, Sch 3, Pt 1 [ 25].

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