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CORPORATIONS ACT 2001 - SECT 1240C

Takeovers--bidder's statement content

             (1)  Subsection 636(1) has effect as if:

                     (a)  a reference in paragraph 636(1)(c) to a company or body did not include a reference to a CCIV that is a listed company; and

                     (b)  subsection 636(1) also included the following paragraph:

                  "(da)  if the target is a CCIV that is a listed company--details of the bidder's intentions regarding:

                              (i)  the continued operation of the CCIV; and

                             (ii)  any major changes to be made to the operation of the CCIV, including any redeployment of the property of the CCIV; and

                            (iii)  any plans to remove the current corporate director of the CCIV and appoint a new corporate director;".

             (2)  Subsection 636(1) also has effect as if:

                     (a)  a reference in paragraph 636(1)(g) to securities did not include a reference to securities in a CCIV that is a listed company; and

                     (b)  subsection 636(1) also included the following paragraph:

                  "(gb)  if any securities in a CCIV that is a listed company are offered as consideration under the bid and the bidder is:

                              (i)  a retail CCIV; or

                             (ii)  the corporate director of a retail CCIV; or

                            (iii)  a person who controls a retail CCIV or the corporate director of a retail CCIV;

                            all material that would be required by section 1013C to be included in a Product Disclosure Statement given to a person in an issue situation (within the meaning of section 1012B) in relation to those securities;".



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