Commonwealth Numbered Acts

Companies and Securities Legislation (Miscellaneous Amendments) Act 1981 No. 153 of 1981 - SECT 6

6. The Schedule to the Principal Act is amended-

   (a)  by omitting paragraph 4 (f) of Part A and substituting the following
        paragraph:

''(f) any other information material to the making of a decision by an offeree
whether or not to accept an offer, being information that is within the
knowledge of the offeror and has not previously been disclosed to the holders
of shares in the target company, unless-

        (i)    the information would not be permitted to be included, without
               the consent of the Commission, in a statement referred to in
               section 37 or 38 that is made or issued to the public; and

        (ii)   the Commission has refused to consent to the inclusion of the
               information in the Part A statement.'';

   (b)  by omitting paragraph 2 (k) of Part B and substituting the following
        paragraph:

''(k) any other information material to the making of a decision by an offeree
whether or not to accept an offer, being information that is within the
knowledge of-

        (i)    in the case of a Part B statement that is signed as mentioned
               in paragraph 22 (2) (a)-any of the directors of the target
               company; or

        (ii)   in the case of a Part B statement that is signed as mentioned
               in paragraph 22 (2) (b)-the liquidator or official manager, as
               the case requires,

and has not previously been disclosed to the holders of shares in the target
company, unless-

        (iii)  the information would not be permitted to be included, without
               the consent of the Commission, in a statement referred to in
               section 37 or 38 that is made or issued to the public; and

        (iv)   the Commission has refused to consent to the inclusion of the
               information in the Part B statement.'';

   (c)  by omitting paragraph 4 (f) of Part C and substituting the following
        paragraph:

''(f) any other information material to the making of a decision by an offeree
whether or not to accept an offer made by virtue of the take-over
announcement, being information that is within the knowledge of the on-market
offeror and has not previously been disclosed to the holders of shares in the
target company, unless-

        (i)    the information would not be permitted to be included, without
               the consent of the Commission, in a statement referred to in
               section 37 or 38 that is made or issued to the public; and

        (ii)   the Commission has refused to consent to the inclusion of the
               information in the Part C statement.''; and

   (d)  by omitting paragraph 2 (j) of Part D and substituting the following
        paragraph:

''(j) any other information material to the making of a decision by an offeree
whether or not to accept an offer made by virtue of the take-over
announcement, being information that is within the knowledge of-

        (i)    in the case of a Part D statement that is signed as mentioned
               in paragraph 32 (2) (a)-any of the directors of the target
               company; or

        (ii)   in the case of a Part D statement that is signed as mentioned
               in paragraph 32 (2) (b)-the liquidator or official manager, as
               the case requires,

and has not previously been disclosed to the holders of shares in the target
company, unless-

        (iii)  the information would not be permitted to be included, without
               the consent of the Commission, in a statement referred to in
               section 37 or 38 that is made or issued to the public; and

        (iv)   the Commission has refused to consent to the inclusion of the
               information in the Part D statement.''.