Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_350
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 350
Character Range: 887703–888250

350  Subsection 257B(7)
Repeal the subsection, substitute:

 (7) A buy‑back by a company (whether listed or not) is also an on‑market buy‑back if it results from an offer made in the ordinary course of trading in a financial market outside Australia which ASIC declares in writing to be an approved overseas financial market for the purposes of this subsection. A buy‑back by a listed company is an on‑market buy‑back under this subsection only if an offer to buy‑back those shares is also made on a prescribed financial market at the same time.