Australian Securities and Investments Commission Corporations (Amendment) Instrument 2023/774 (Cth)

ASIC Corporations (Amendment) Instrument 2023/774

I, Amanda Zeller, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date    17 October 2023

Amanda Zeller

Contents

Part 1—Preliminary

1    Name of legislative instrument

2    Commencement

3    Authority

4    Schedules

Schedule 1—Amendments

ASIC Corporations (Takeover Bids) Instrument 2023/683

ASIC Corporations (Compulsory Acquisitions and Buyouts) Instrument 2023/684

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2023/774.

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note:    The register may be accessed at Authority

This instrument is made under subsections 655A(1) and 669(1) of the Corporations Act 2001.  

4        Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

ASIC Corporations (Takeover Bids) Instrument 2023/683

1 Paragraph 6(c) (notional subparagraph 636(1)(g) of the Corporations Act 2001)

Omit all the words after subparagraph (ii), substitute:

(iii)    that body agrees to the bidder offering, or authorises, arranges for or permits the bidder to offer the securities;

all material that would be required for a prospectus for an offer of those securities by the bidder, or, if subparagraph (iii) applies, the body, under whichever of the following is applicable:

(iv)      sections 710 to 713;

(v)      sections 713C to 713E

2        Section 10

Repeal the section.

ASIC Corporations (Compulsory Acquisitions and Buyouts) Instrument 2023/684

3        After subparagraph 5(a)(ii)

Insert:

(iia)   in paragraph (4)(c), after “if securities”, insert “or derivatives”; and

4 Paragraph 5(b) (notional subparagraph 661B(1)(c)(ii) of the Corporations Act 2001)

After “convertible securities”, insert “or derivatives”.