1ASIC Class Order [CO 03/633]

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Australian Securities and Investments Commission Corporations Act 2001 – Paragraph 655A(1)(a) – Exemption

 

Under paragraph 655A(1)(a) of the Corporations Act 2001 (the “Act”) the Australian Securities and Investments Commission exempts a bidder from subsection 650D(3) of the Act where the notice of variation of offers under an off-market bid is approved by:

 

1. for a bidder that is a body corporate:

 

(a) if the consideration offered under the bid is a cash sum only — a resolution passed by the directors of the bidder; or

 

(b) otherwise — a unanimous resolution passed by all the directors of the bidder; or

 

2. for a bidder who is an individual — the bidder.

 

Dated this 22nd day of September 2003

 

 

 

 

Signed by Stephen Yen, PSM

Australian Securities and Investments Commission