Australian Securities and Investments Commission Class Order [Co 01/1544] (Cth)

ASIC Class Order [CO 01/1544]

Compulsory acquisition following a takeover bid

This instrument is made under subsection 669(1) of the Corporations Act 2001.

This compilation was prepared on 4 October 2005 taking into account amendments up to [CO 03/637].

Prepared by the Australian Securities and Investments Commission.

Australian Securities and Investments Commission
Corporations Act 2001 — Subsection 669(1) — Declaration

Under subsection 669(1) of the Corporations Act 2001 (the Act) the Australian Securities and Investments Commission hereby declares that Chapter 6A of the Act applies to all persons as if section 661A were modified by:

1.    inserting the following new subsection immediately after subsection (1):

“(1A) For the purposes of the 75% calculation in subparagraph (1)(b)(ii):

(a)   exclude from the number of securities acquired and from the number of securities that the bidder offered to acquire under the bid, securities:

(i)         in which the bidder or their associate has a relevant interest at the date of the first offer under the bid; or

(ii)        issued to an associate of the bidder during the offer period; and

(b)   if the securities are convertible securities, exclude from the number of securities that the bidder offered to acquire under the bid convertible securities (other than any securities excluded because of paragraph (a)) where the holder by exercising the rights attached to those securities has:

(i)         another class of securities issued to them; or

(ii)        has the securities transformed into securities in  another class,

in the period from the date set by the bidder under subsection 633(2) to the end of the offer period.”; and

2.    in subsection (2) omit the text “subsection (1),” substitute the text “subparagraph (1)(b)(i)”.

Notes to ASIC Class Order [CO 01/1544]

Note 1

ASIC Class Order [CO 01/1544] (in force under subsection 669(1) of the Corporations Act 2001) as shown in this compilation comprises that Class Order amended as indicated in the Tables below.

Table of Instruments

Instrument number	Date of making or FRLI registration	Date of commencement	Application, saving or transitional provisions
[CO 01/1544]	11/12/2001	11/12/2001	-
[CO 03/637]	22/9/2003	22/9/2003	-

Table of Amendments

ad. = added or inserted     am. = amended     rep. = repealed     rs. = repealed and substituted

Provision affected	How affected
Para 1, subsection (1A) as notionally inserted	rs. [CO 03/637]