Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p58
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 143828–146643

of the Commonwealth and related to shares included in a class of shares in a company, this Act as in force after that commencement applies as if:
        (a) a person who, at a particular time during the period beginning immediately before the announcement was made and ending immediately after that commencement, was a member of the company's home stock exchange had been a dealer at that time; and
        (b) an official meeting of the company's home stock exchange that was held at a particular time during that period had been a relevant official meeting in relation to the announcement.
        "(17b) In subsection (17a) and in this subsection:
        'company' means a body corporate that is a stock exchange listed company for the purposes of this Act or of a corresponding law of a participating State or participating Territory;

        'home stock exchange', in relation to a company, in relation to a particular time, means the stock exchange that was at that time the company's home stock exchange for the purposes of this Act or of a corresponding law of a participating State or participating Territory.".

Declaration where take-over offers are conditional
20. Section 28 of the Principal Act is amended by omitting from paragraph (8) (b) "listed public" and substituting "stock exchange listed".

Withdrawal of on-market offers
21. Section 33 of the Principal Act is amended:
     (a) by omitting from subsection (1) all the words after "that period," and substituting "by causing a dealer to make on the on-market offeror's behalf at a relevant official meeting an announcement to that effect, withdraw such of the offers as have not been accepted.";
     (b) by omitting subsection (5) and substituting the following subsections:
    "(5) If, after the making of a take-over announcement and before the end of the period in which offers constituted by the take-over announcement remain open, the relevant dealer in relation to the take-over announcement:
     (a) in any case:
        (i) becomes bankrupt; or
        (ii) is directed by the board of the Exchange to cease carrying on the business of dealing in securities; or
     (b) if the relevant dealer carries on a business of dealing in securities otherwise than as a partner in a partnership:
        (i) dies; or
        (ii) is declared by a court to be incapable of managing the relevant dealer's affairs;
    such of the offers made by virtue of the take-over announcement as have not been accepted shall be deemed to have been withdrawn on the day on which the relevant dealer became bankrupt, was so directed, died or was so declared, as the case may be.
    "(5a) In subsection (5), 'relevant dealer', in relation to a takeover announcement, means:
        (a) unless paragraph (b) applies—the dealer who made the announcement;