Commonwealth Consolidated Acts

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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 in relation to those securities;".


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