Commonwealth Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 No. 50, 2001 - SECT 663C

Right of holders of convertible securities to be bought out

(1) Within 1 month after notice under section 663B is given in relation to convertible securities, the holder of the convertible securities may give the bidder a notice requiring the bidder to acquire the securities. (2) The holder's notice gives rise to a contract between the holder and the bidder for the sale of the securities on:

the terms agreed to by the bidder and the holder; or

the terms determined by the Court on application by the holder.

(3) If the Court makes a determination under paragraph (2)(b) in relation to the terms of sale for a holder's securities of a particular class, the determination applies to all holders of securities in that class who have applications to the Court pending for a determination under that paragraph in relation to the terms of sale of their securities.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback