sec.403RMeaning of offer period

### sec.403R Meaning of offer period The period for which an offer is valid (the offer period ) is— the period stated in the offer; or if no period is stated in the offer—3 months from the day the offer is made. However, if the offer period is extended under subsection (3) or (4) , the extended period is the offer period . The offeror may extend the period for which the offer is valid in the offer period if the offeree applies for the extension within the offer period. The offeror may extend the period for which the offer is valid after, but within 42 days after, the offer period ends if— the offeree applies for the extension after, but within 42 days after, the offer period ends; and the offeror considers that exceptional circumstances exist. The period for which an offer is valid may be extended under subsection (4) only once. s 403R ins 2023 No. 2 s 36 (sec.403R-ssec.1) The period for which an offer is valid (the offer period ) is— the period stated in the offer; or if no period is stated in the offer—3 months from the day the offer is made. (sec.403R-ssec.2) However, if the offer period is extended under subsection (3) or (4) , the extended period is the offer period . (sec.403R-ssec.3) The offeror may extend the period for which the offer is valid in the offer period if the offeree applies for the extension within the offer period. (sec.403R-ssec.4) The offeror may extend the period for which the offer is valid after, but within 42 days after, the offer period ends if— the offeree applies for the extension after, but within 42 days after, the offer period ends; and the offeror considers that exceptional circumstances exist. (sec.403R-ssec.5) The period for which an offer is valid may be extended under subsection (4) only once. - (a) the period stated in the offer; or - (b) if no period is stated in the offer—3 months from the day the offer is made. - (a) the offeree applies for the extension after, but within 42 days after, the offer period ends; and - (b) the offeror considers that exceptional circumstances exist.