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CORPORATIONS ACT 2001 - SECT 661E Holder may apply to Court to stop acquisition

CORPORATIONS ACT 2001 - SECT 661E

Holder may apply to Court to stop acquisition

  (1)   The holder of securities covered by a compulsory acquisition notice under section   661B may apply to the Court for an order that the securities not be compulsorily acquired under subsection   661A(1). The application must be made before the later of:

  (a)   the end of 1 month after the holder is given notice under section   661B; or

  (b)   the end of 14 days after the holder is given a statement under section   661D if the holder asks for it.

  (2)   The Court may order that the securities not be compulsorily acquired under subsection   661A(1) only if the Court is satisfied that the consideration is not fair value for the securities.

Note:   See section   667C on valuation.

  (3)   If the Court makes an order under this section in relation to an acquisition of securities, the order applies to all holders who have applications to the Court pending for an order under this section in relation to the acquisition.

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