Document ID: chunk:federal_register_of_legislation:C2025C00185:section:650b
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 650B
Character Range: 2560305–2561877

650B  Off‑market bids—consideration offered

Improving the consideration offered
 (1) The bidder may vary the offers made under the bid to improve the consideration offered:
 (a) by increasing a cash sum offered; or
 (b) by increasing the number of securities offered; or
 (c) by increasing the rate of interest payable under debentures offered; or
 (d) by increasing the amount or value of debentures offered; or
 (e) by increasing the number of unissued securities that may be acquired under options offered; or
 (f) by offering a cash sum in addition to securities; or
 (g) if the securities being acquired include shares to which rights to accrued dividends are attached—by giving the holders the right to:
 (i) retain the whole or a part of the dividend; or
 (ii) be paid an amount equal to the amount of the dividend;
  in addition to the consideration already offered; or
 (h) offering an additional alternative form of consideration.
Note: If the bidder increases the consideration during the last 7 days of the offer period, subsection 624(2) extends the offer period by a further 14 days.

Effect of increase in consideration on offers already accepted
 (2) Improving the consideration has the effects set out in the following table on the rights of a person who has already accepted an offer when the variation is made.

Effect of improving consideration  [operative]
                                   Improvement                                                                                               Effect on person who has already accepted bid offer