Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1019h:p1
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1019H (pt 1/3)
Character Range: 1449311–1452068

1019H  Varying terms of offer
 (1) An offeror may vary the terms of an offer to which this Division applies for the purchase of securities in a proprietary company if:
 (a) the variation is:
 (i) to improve the consideration offered under the offer; or
 (ii) to extend the period that the offer remains open at any time before the end of that period; and
 (b) the variation will apply to each offeree that has not accepted the offer before the variation is made.
 (2) The variation may only be made by sending a supplementary offer document in printed or electronic form to:
 (a) if the variation is to improve the consideration offered under the offer—each offeree in accordance with paragraphs 1019E(1)(a) and (b); or
 (b) if the variation is to extend the period that the offer remains open—each offeree that has not accepted the offer in accordance with paragraphs 1019E(1)(a) and (b).
 (3) The supplementary offer document must:
 (a) identify the offer to which it relates; and
 (b) describe the variation; and
 (c) be worded and presented in a clear, concise and effective manner.
 (4) The terms of the offer cannot be varied otherwise than under this section.
 (5) This section does not:
 (a) affect the offeror's obligation under section 1019J to update the market value of the financial product to which the offer relates; or
 (b) prevent the offeror from withdrawing the offer in accordance with section 1019G or paragraph 1019J(2)(a) and making another offer on different terms; or
 (c) prevent the offeree from making a counter‑offer on different terms.

7.9.95D  Rights if requirements not complied with
  Part 7.9 of the Act applies in relation to the offer as if subsection 1019K(1) of the Act were modified by inserting after paragraph 1019K(1)(b) of the Act:
 (ba) in a situation where section 1019H applies:
 (i) subsection 1019H(2) was not complied with; or
 (ii) the supplementary offer document did not comply with subsection 1019H(3); or
 (iii) there was a misleading or deceptive statement in the supplementary offer document;

Subdivision B—Other matters

7.9.96  Percentage increase or decrease in the market value of a product
  For paragraph 1019J(1)(c) of the Act, 50% is specified.

7.9.97  Off‑market trading by professional investors etc
 (1) For subparagraph 1019D(1)(d)(viii) of the Act, the following circumstances are specified:
 (a) the offer mentioned in subsection 1019D(1) of the Act is to:
 (i) a professional investor; or
 (ii) a person who has net assets of at least the amount specified in regulations made for the purposes of subparagraph 761G(7)(c)(i) of the Act; or
 (iii) a person who has gross income for each of the last 2 financial years of at least the amount specified in regulations made for the purposes