Document ID: chunk:federal_register_of_legislation:F2023C00948:body:0:p3
Version: federal_register_of_legislation:F2023C00948
Segment Type: other
Provision Reference: 
Character Range: 5416–8364

securities in which the bidder has a relevant interest (no matter when they were issued or granted)."; and
(iv) in subsection (5), at the end, insert:
         "For the avoidance of doubt, this section also has effect despite anything in the terms of issue of the securities to be acquired."; and
(v) after subsection (5), insert:
"(6) In this section, non-transferable securities means securities issued under a scheme to or for the benefit of employees or non-executive directors of the company that issued the securities or of a related body corporate  in relation to their employment or services.";
(b) omit paragraph 661B(1)(c), substitute:

"(c) give the notice to each other person who is:
                  (i) a holder of securities in the bid class; or
                  (ii) if the bidder elects under paragraph 661A(4)(c) to acquire securities that come to be in the bid class after the notice is given—a holder of the convertible securities or derivatives referred to in that paragraph; or
                  (iii) if the bidder elects to acquire non-transferable securities under subsection 661A(1)—a holder of the non-transferable securities; and";
(c) in subsection 661D(1) omit "in the bid class";
(d) after subsection 662A(2) insert:

"(2A) This section also does not apply to securities if the bidder has given the holder of the securities a compulsory acquisition notice under section 661B and the terms on which the bidder may acquire the securities are the same as the terms of the bid immediately before the end of the offer period.";
(e) in subsection 664A(4), at the end, insert:

           "For the avoidance of doubt, this section also has effect despite anything in the terms of issue of the securities to be acquired.";
(f) in subsection 666B(2), at the end, insert:

           "For the avoidance of doubt, if the person acquiring the securities complies with subsection (1), the transfer of the securities to the person is effective notwithstanding any restrictions on transfer of the securities contained in the constitution of the company that issued the securities or the terms of issue of the securities.".

Part 3—Repeal

6 Repeal
    This instrument is repealed at the start of 1 October 2028.

Endnotes

Endnote 1—About the endnotes
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending