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CORPORATIONS ACT 2001

CHAPTER 6 - TAKEOVERS  

PART 6.6 - VARIATION OF OFFERS  

Division 3 - Off-market bids (automatic variations)  

SECTION 651C  RETURNING SECURITIES AS PART OF ELECTION  

651C(1)  [Cancellation of securities]  


If under section 651B a person returns to a company any certificates (together with any necessary transfer documents) in respect of the securities issued by a company, the company must cancel those securities as soon as possible.

651C(2)  [Strict liability offence]  

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An offence based on subsection (1) is an offence of strict liability.

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


 



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