Off-market bid
(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)).
Market bid
(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.
Commonwealth Numbered Acts