(1) A person who accepts an offer made under an off-market bid may withdraw their acceptance of the offer if:

(a)

the bid is subject to a defeating condition; and

(b)

the bidder varies the offers under the bid in a way that postpones for more than 1 month the time when the bidder has to meet their obligations under the bid; and

(c)

the person is entitled to be given a notice of the variation under subsection 650D(1).

(2) To withdraw their acceptance, the person must:

(a)

give the bidder notice within 1 month beginning on the day after the day on which the copy of the notice of the variation was received; and

(b)

return any consideration received by the person for accepting the offer.

(3) A notice under paragraph (2)(a):

(a)

if it relates to securities that are entered on an SCH subregister—must be in an electronic form approved by the SCH business rules for the purposes of this Part; or

(b)

if it relates to shares that are not entered on an SCH subregister—must be in writing.

(4) To return consideration that includes securities, the person must:

(a)

if the securities are entered on an SCH subregister—take the action that the SCH business rules require in relation to the return of the securities; or

(b)

otherwise—give the bidder any transfer documents needed to effect the return of securities.

(5) If the person withdraws their acceptance, the bidder must:

(a)

take any action that the SCH business rules require in relation to any of the securities to which the acceptance relates that are entered on an SCH subregister; and

(b)

return any documents that the person sent the bidder with the acceptance of the offer;