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CORPORATIONS ACT 2001

CHAPTER 6 - TAKEOVERS  

PART 6.6 - VARIATION OF OFFERS  

Division 3 - Off-market bids (automatic variations)  

SECTION 651B  HOW TO MAKE AN ELECTION FOR NEW FORMS OF CONSIDERATION  

651B(1)  [Method of election]  


An election under section 650B or 651A to take a new form of consideration must be made:


(a) by written notice to the bidder; and


(b) within 1 month after the person receives the notice from the bidder of their right to make the election.

651B(2)  [Entitlement to new consideration]  


The person becomes entitled to the new form of consideration if they:


(a) make the election; and


(b) return to the bidder:


(i) any consideration they have already received; and

(ii) any necessary transfer documents.

 



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