51ABLConditional contracts, arrangements and understandings

51ABL Conditional contracts, arrangements and understandings

For the purposes of the acquisitions provisions, if:

(a) a person enters into a contract, arrangement or understanding pursuant to which the person will acquire:

(i) shares in the capital of a body corporate; or

(ii) any assets of another person; or

(iii) a thing determined under paragraph 51ABB(2)(a); and

(b) the provisions of the contract, arrangement or understanding pursuant to which the acquisition is to take place do not become binding on the person until one or more conditions are met;

the person does not acquire shares, assets or a determined thing under the provisions unless and until the provisions become binding.