Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:1_654a
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 1 cl 654A
Character Range: 281470–282032

654A  Bidder not to dispose of securities during the bid period

 (1) The bidder must not dispose of any securities in the bid class during the bid period.

 (2) Subsection (1) does not apply to a disposal of securities by the bidder if:
 (a) someone else who is not an associate of the bidder makes an offer, or improves the consideration offered, under a takeover bid for securities in the bid class after the bidder's statement is given to the target; and
 (b) the bidder disposes of the securities after the offer is made or the consideration is improved.