CORPORATIONS ACT 2001 - SECT 650C Off - market bids--extension of offer period

CORPORATIONS ACT 2001 - SECT 650C

  (1)   A bidder making an off - market bid may extend the offer period at any time before the end of the offer period.

  (2)   If the bid is subject to a defeating condition, the bidder may extend the offer period after the publication of the notice under subsection   630(3) only if one of the following happens after the publication:

  (a)   another person lodges with ASIC a bidder's statement for a takeover bid for securities in the bid class;

  (b)   another person announces a takeover bid for securities in the bid class;

  (c)   another person makes offers under a takeover bid for securities in the bid class;

  (d)   the consideration for offers under another takeover bid for securities in the bid class is improved.

Note:   Section   624 says how long the total offer period can be.