“(2) If, within the last 7 days of the o

“(2) If, within the last 7 days of the offer period:

(a) for an off-market bid—the offers under the bid are varied to improve the consideration offered; or
(b) in any case—the bidder’s voting power in the target increases to more than 50%;

the offer period is extended so that it ends 14 days after the event referred to in paragraph (a) or (b) at the following times: (c) for a market bid—the close of ordinary trading; and (d) for an off-market bid—the time of day the offer period would have ended if it had not been extended under this subsection. The bidder must give each of the persons specified in paragraph 650D(1)(c) (other than those who have accepted an offer under the bid) written notice that the extension has occurred within 3 days after that event.”;

(h) after subsection 624(3) insert: