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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE, SALE AND PURCHASE OF FINANCIAL PRODUCTS    View history reference

Division 5A - Unsolicited offers to purchase financial products off-market    View history reference

SECTION 1019D  OFFERS TO WHICH THIS DIVISION APPLIES  

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1019D(1)  [Application]  


This Division applies to an offer in relation to which the following paragraphs are satisfied:


(a) the offer is an unsolicited offer to purchase a financial product made by a person (the offeror) to another person (the offeree);


(b) the offer is made otherwise than on a licensed market;


(c) one or more of the following apply:


(i) the offer is made in the course of a business of purchasing financial products;

(ii) the offeror was not in a personal or business relationship with the offeree before the making of the offer;

(iii) the offer is made in circumstances specified in regulations made for the purposes of this subparagraph;


(d) the offer is not:


(i) made to the issuer of the financial products; or

(ii) to buy back shares under a buy-back authorised by section 257A; or

(iii) made under a compromise or arrangement approved at a meeting held as a result of an order under subsection 411(1) or (1A); or

(iv) to acquire securities under an off-market bid; or

(v) to compulsorily acquire or buy out securities under Chapter 6A; or

(vi) to acquire shares from a dissenting shareholder under section 414; or

(vii) made in relation to particular financial products that are specified in regulations made for the purposes of this subparagraph; or

(viii) made in circumstances that are specified in regulations made for the purposes of this subparagraph;


(e) the offer is made or received in this jurisdiction.

1019D(2)  [Regulations]  


The regulations may clarify:


(a) when an offer is, or is not, made in the course of a business of purchasing financial products; or


(b) when an offeror was, or was not, in a previous personal or business relationship with an offeree.

Regulations made for the purposes of this subsection have effect despite anything else in this section.


 



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