Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 654A

Bidder not to dispose of securities during the bid period

(1) The bidder must not dispose of any securities in the bid class during the bid period. (2) Subsection (1) does not apply to a disposal of securities by the bidder if:

someone else who is not an associate of the bidder makes an offer, or improves the consideration offered, under a takeover bid for securities in the bid class after the bidder's statement is given to the target; and

the bidder disposes of the securities after the offer is made or the consideration is improved.

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