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CORPORATIONS ACT 2001

CHAPTER 6 - TAKEOVERS  

PART 6.2 - EXCEPTIONS TO THE PROHIBITION  

SECTION 613  

613  BIDDER NOT TO EXERCISE VOTING RIGHTS IF FAILURE TO SEND BIDS FOR OFF-MARKET ACQUISITION - EXCEPTION 2 OR 3  

If the exception in item 2 or 3 of the table in section 611 applies to an acquisition on-market during a takeover bid, the bidder is not entitled to exercise the voting rights attached to the shares if:


(a) the bid is an off-market bid; and


(b) the bidder fails to send offers under the bid within 28 days after giving the bidder's statement to the target.

[CCH Note: There is no section 614.]


 



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