Document ID: chunk:federal_register_of_legislation:C2025C00185:section:5
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 5
Character Range: 2562690–2564150

5                                  any other improvement                                                                                     entitled to make a fresh election as to the form of consideration to be taken

 (2A) The person is entitled to receive the improved consideration immediately, subject to the following paragraphs:
 (a) if the time for payment of the consideration in accordance with subsection 620(2) has not yet occurred, the person is not entitled to receive the improved consideration until that time;
 (b) if the person has to make an election before being entitled to the improved consideration, the person is not entitled to receive the improved consideration until the later of:
 (i) the time when the election is made; and
 (ii) the time applicable under paragraph (a).

Fresh election as to the form of consideration
 (3) If a person who has already accepted an offer has the right to make a fresh election as to the form of consideration to be taken, the bidder must send the person as soon as practicable after the variation a written notice informing them about their right to make the election.
Note 1: Section 651B says how the election is to be exercised.
Note 2: Sections 648B and 648C provide for the manner in which documents may be sent to holders.

Strict liability offences
 (4) An offence based on subsection (3) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.