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CORPORATIONS ACT 2001

CHAPTER 6 - TAKEOVERS  

PART 6.5 - THE TAKEOVER PROCEDURE  

Division 4 - Updating and correcting the bidder's statement and target's statement  

SECTION 647  TO WHOM SUPPLEMENTARY STATEMENT MUST BE SENT  

647(1)  [Target]  


A supplementary bidder's statement must be sent to the target as soon as practicable.

647(2)  [Bidder]  


A supplementary target's statement must be sent to the bidder as soon as practicable.

647(3)  [Other bodies]  


Either kind of supplementary statement must as soon as practicable be:


(a) lodged with ASIC; and


(b) if the bid class securities are quoted and the target is listed - sent to the operator of each prescribed financial market on which the target's securities are quoted; and
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(c) if the bid is an off-market bid and the bid class securities are not quoted - sent to all holders of bid class securities who have not accepted an offer under the bid.

Note: Sections 648B and 648C provide for the manner in which documents may be sent to holders.

647(4)  [Strict liability offences]  

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An offence based on subsection (1), (2) or (3) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code.


 



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