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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1325A
Orders if contravention of Chapter 6, 6A, 6B or
(1) The Court may make any order or orders (including a remedial order)
that it considers appropriate if a person:
- contravenes a provision of
Chapter 6, 6A, 6B or 6C; or
- contravenes a condition on a consent given by ASIC under
section 652B; or
- states in a notice under section 672B about securities that they do
not know particular information about:
- the securities; or
- someone who has a relevant interest in, or has given instructions in
relation to, the securities.
- Note 1: Section 9 defines remedial order .
Note 2: Sections 659B and 659C deal with court proceedings during and
after a takeover bid.
(2) The Court may make any order or orders (including a remedial order) that
it considers appropriate if:
- the consideration offered under a
takeover bid is or includes securities; and
- the offers under the bid or the bidder's statement states or implies that
the securities are to be quoted on a stock market of a securities exchange
(whether in Australia or elsewhere) and:
- an application for admission to quotation is not made within 7 days after
the start of the bid period; or
- permission for admission to quotation is not granted within 7 days after
the end of the bid period.
- Note: Section 9 defines remedial order .
(3) An order under this section may be made on application by the following:
- the company, or the responsible entity of the registered scheme, whose
securities are involved in the contravention;
- a member or former member of that company or scheme;
- a person from whom the relevant interest in the securities were acquired;
- a person whose interests are affected by the contravention.
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