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CORPORATIONS ACT 2001

CHAPTER 6 - TAKEOVERS  

PART 6.4 - FORMULATING THE TAKEOVER OFFER  

Division 4 - Conditional offers  

SECTION 625  CONDITIONAL OFFERS - GENERAL  

625(1)  Market bids.  


Offers under a market bid must be unconditional.

625(2)  Off-market bids may generally be conditional.  


Offers under an off-market bid may be subject to conditions that are not prohibited by sections 626 to 629.

625(3)  [Rules in relation to quoted securities]  


If:


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


(b) the offer or the bidder's statement states or implies that the securities are to be quoted on a financial market (whether in Australia or elsewhere);
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the following rules apply:


(c) the offer is subject to a condition that:


(i) an application for admission to quotation will be made within 7 days after the start of the bid period; and

(ii) permission for admission to quotation will be granted no later than 7 days after the end of the bid period;


(d) the offer may not be freed from this condition.

Note: Section 1325A provides that a Court may make a remedial order if the condition is not satisfied.


 



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