Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p148
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 148/212)
Character Range: 389935–392890

means:

  (a) offers made under a takeover scheme; or

  (b) a takeover announcement within the meaning of Chapter 6;".

Subparagraph 191 (2) (e) (ii):

  Omit "or" (last occurring).

After paragraph 191 (2) (e):

  Insert:

  "(ea) as provided by subsection 206pd (2); or".

Subparagraph 205 (1) (b) (ii):

  Insert "acquire or" before "purport".

Paragraph 205 (9) (b):

  Omit all the words after "benefit of", substitute:

    "participating employees in relation to the company, where:

         (i) if the company has an approving holding company or approving holding companies—the company, and that

SCHEDULE 5—continued

         holding company or those holding companies, have each, at a general meeting; or

      (ii) otherwise—the company has, at a general meeting;

    approved a scheme for providing money for such acquisitions and the financial assistance is given in accordance with the scheme.".

Paragraph 205 (10) (j):

  Omit "and".

Subsection 205 (10):

  Add at the end:

  "; and (m) none of the following:

             (i) the contract or transaction under which the company gives the financial assistance;

             (ii) a contract or transaction made or engaged in, or proposed to be made or engaged in, as a result of, by means of, or in relation to, the financial assistance;

           was, is, or is proposed to be, made or engaged in by a person for the purpose, or for purposes including the purpose, of enabling the company to avoid the operation of paragraph (1) (b).".

After paragraph 206 (1) (a):

  Insert:

      "(ba) the validity of a contract or transaction is not affected by a contravention of paragraph 205 (1) (b) constituted by:

         (i) a buy-back, within the meaning of Division 4b, of ordinary shares; or

         (ii) the transfer to a company, pursuant to such a buy-back by the company, of the shares;".

Paragraph 206 (1) (b):

  Omit "a contravention", substitute "any other contravention".

After Division 4 of Part 2.4:

  Insert:

      "Division 4a—Unacceptable Self-acquisition Schemes

Interpretation

  "206aaa. (1) In this Division, unless the contrary intention appears:

'agreement' means an agreement, arrangement or understanding:

     (a) whether formal or informal or partly formal and partly informal; and

SCHEDULE 5—continued

  (b) whether written or oral or partly written and partly oral; and

     (c) whether or not having legal or equitable force and whether or not based on legal or equitable rights;

'connected transaction', in relation to a self-acquisition scheme relating to a company, means a transaction that:

  (a) is or will be, or forms or will form part of, the scheme; or

     (b) has been, or is proposed to be, entered into in connection with the scheme;

whether or not the company is or will be a party to the transaction;

'eligible agreement' means:

  (a) an agreement; or

  (b) a proposed agreement; or

  (c) an agreement as varied or