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ASIC Corporations (Takeover Bids) Instrument 2023/683
“(b) if the bidder is given the necessar“(b) if the bidder is given the necessary transfer documents after the acceptance and before the end of the bid period and the offer is subject to a defeating condition at the time that the bidder is given the necessary transfer documents—by the end of whichever of the following periods ends earlier:
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“(b) if the bidder is given the necessary transfer documents after the acceptance and before the end of the bid period and the offer is subject to a defeating condition at the time that the bidder is given the necessary transfer documents—by the end of whichever of the following periods ends earlier:
(i) 1 month after the takeover contract becomes unconditional; or
(ii) 21 days after the end of the offer period; or
(ba) if the bidder is given the necessary transfer documents after the acceptance and before the end of the bid period and the offer is unconditional at the time that the bidder is given the necessary transfer documents—by the end of whichever of the following periods ends earlier:
(i) 1 month after the bidder is given the necessary transfer documents; or
(ii) 21 days after the end of the offer period; or
(c) if the bidder is given the necessary transfer documents after the acceptance and after the end of the bid period:
(i) if at the time the bidder is given the necessary transfer documents the takeover contract is unconditional—within 21 days after the bidder is given the necessary transfer documents; or
(ii) if at the time the bidder is given the necessary transfer documents the takeover contract is subject to a defeating condition that relates only to the happening of an event or circumstance referred to in subsection 652C(1) or (2)—within 21 days after the takeover contract becomes unconditional.”;
(e) after subsection 620(2), insert:
“(2A) For the avoidance of doubt, an offer will satisfy a requirement in subsection (2) to provide or pay consideration within a period if it provides for the consideration to be paid or provided within a shorter period.”;
(f) omit subsection 623(1), substitute: