Document ID: chunk:federal_register_of_legislation:C2004A03309:body:0:p5
Version: federal_register_of_legislation:C2004A03309
Segment Type: other
Provision Reference: 
Character Range: 10048–12791

the relevant offer remains open would, but for this paragraph, end before the end of the period of 7 days commencing at the relevant commencement—the period during which the relevant offer remains open shall, except for the purposes of sub-section 27 (8), be deemed to be extended until the end of that period of 7 days.
"(2ae) The document prepared by the Companies and Securities Law Review Committee, entitled "Report to the Ministerial Council on Partial Takeover Bids" and dated August 1985 is hereby declared to be a relevant document for the purposes of section 5b of the Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980 but, notwithstanding that section, consideration shall not be given to that document in the interpretation of a provision of this Act other than a provision as in force after the relevant commencement.
"(2af) Neither section 25, as in force after the relevant commencement, nor section 25c shall be taken to affect by implication the interpretation of this Act as in force at any time before the relevant commencement.
"(2ag) In sub-sections (2ac), (2ad), (2ae) and (2af) and in this sub-section—
'relevant Act' means the Companies and Securities Legislation Amendment Act 1986;
'relevant commencement' means the commencement of Part II of the relevant Act.".

Take-over announcements
7. Section 17 of the Principal Act is amended—
(a) by omitting from sub-section (7) "specified in the agreement as the price payable for the share or any of the shares may be increased" and substituting "payable for the share or any of the shares is a price (in this sub-section referred to as the 'original price') specified in the agreement but may be varied"; and
(b) by omitting from sub-section (7) "taken to be the price so specified in the agreement" and substituting "deemed to be the original price".
8. Sections 25 and 26 of the Principal Act are repealed and the following sections are substituted:

Acceptance of take-over offers by third parties
"25. Where—
(a) a take-over offer (in this sub-section referred to as the 'original offer') relating to particular shares (in this sub-section referred to as the 'relevant shares') has been made to a person under a take-over scheme under which take-over offers have been made in accordance with sub-paragraph 16 (2) (a) (i); or
(b) a take-over offer (in this sub-section also referred to as the 'original offer') relating to a proportion of particular shares (in this sub-section also referred to as the 'relevant shares') has been made to a person under a take-over scheme under which take-over offers have been made in accordance with sub-paragraph 16 (2) (a) (ii),
and another person was at the time when the original offer was made, or