(1) An off-market bid must relate to securities:
(a) in a class of securities (the bid class ); and
(b) that exist or will exist as at the date set by the bidder under subsection 633(2).
Note: Subsection 92(3) defines securities for the purposes of this Chapter.
(2) If other securities exist or will exist at that date that:
(a) will convert, or may be converted, to securities in the bid class; or
(b) confer rights to be issued securities in the bid class;
the bid may extend to securities that come to be in the bid class during the offer period due to a conversion or exercise of the rights.
Note: The bidder's statement must say if the bid is extended in this way (see paragraph 636(1)(j)).
(3) A market bid must relate to securities:
(a) in a class of quoted securities (the bid class ); and
(b) that exist or will exist at any time during the offer period.