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CORPORATIONS ACT 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.5 - POWERS OF COURTS  

SECTION 1325A  ORDERS IF CONTRAVENTION OF CHAPTER 6, 6A, 6B OR 6C  

1325A(1)  [Power of Court to make orders about person contravening]  


The Court may make any order or orders (including a remedial order) that it considers appropriate if a person:


(a) contravenes a provision of Chapter 6, 6A, 6B or 6C; or


(b) contravenes a condition on a consent given by ASIC under section 652B; or


(c) states in a notice under section 672B about securities that they do not know particular information about:


(i) the securities; or

(ii) someone who has a relevant interest in, or has given instructions in relation to, the securities.

Note 1: Section 9 defines remedial order.

Note 2: Sections 659B and 659C deal with court proceedings during and after a takeover bid.

1325A(2)  [Power of Court to make orders about takeover bid]  


The Court may make any order or orders (including a remedial order) that it considers appropriate if:


(a) the consideration offered under a takeover bid is or includes securities; and


(b) the offers under the bid or the bidder's statement states or implies that the securities will be able to be traded on a financial market (whether in Australia or elsewhere) and:

(i) an application for admission to quotation is not made within 7 days after the start of the bid period; or

(ii) permission for admission to quotation is not granted within 7 days after the end of the bid period.

Note: Section 9 defines remedial order.

 View history reference

1325A(3)  [Who may apply]  


An order under this section may be made on application by the following:


(a) ASIC;


(b) the company, or the responsible entity of the registered scheme, whose securities are involved in the contravention;


(c) a member or former member of that company or scheme;


(d) a person from whom the relevant interest in the securities were acquired;


(e) a person whose interests are affected by the contravention.

 



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