Document ID: chunk:federal_register_of_legislation:C2004A02825:body:0:p6
Version: federal_register_of_legislation:C2004A02825
Segment Type: other
Provision Reference: 
Character Range: 15066–17777

particular company shall, on the first day on which he gives a notice under sub-section (3) in relation to that company, lodge with the Commission a copy of that notice or, if on that first day he gives 2 or more notices under sub-section (3) in relation to that company, a copy of any one of those notices.".

Rights of remaining shareholders and holders of options and notes
9. Section 43 of the Principal Act is amended by omitting sub-section (5) and substituting the following sub-sections:
"(5) A notice given under sub-section (4) shall not propose terms for the acquisition by the offeror or on-market offeror of the shares, renounceable option or convertible note to which the notice relates unless the notice is accompanied by a copy of a report made by an expert (not being a person who is associated with the offeror, the on-market offeror or the company that issued the shares or granted or issued the renounceable option or the convertible note) setting out the particulars referred to in sub-section (5b), stating whether, in his opinion, the terms proposed in the notice are fair and reasonable and setting out his reasons for forming that opinion.

"(5a) Where an offeror or on-market offeror obtains 2 or more reports, each of which could be used for the purposes of compliance with sub-section (5), the notice given under sub-section (4) by the offeror or on-market offeror, as the case may be, shall not propose terms for the acquisition by the offeror or on-market offeror of the shares, renounceable option or convertible note to which the notice relates unless the notice is accompanied by a copy of each report.
"(5b) The particulars that are required by sub-section (5) to be set out in a report made by an expert in relation to terms proposed by an offeror or on-market offeror (in this sub-section referred to as the 'relevant offeror') for the acquisition of shares in, or renounceable options or convertible notes granted or issued by, a company are—
     (a) particulars of any relationship of the expert with the relevant offeror, the company or any person (in this paragraph referred to as a 'relevant associate') who is associated with the relevant offeror or the company, including, without limiting the generality of the foregoing, particulars of any circumstances in which the expert furnishes advice to or acts on behalf of the relevant offeror, the company or a relevant associate in the proper performance of the functions attaching to the expert's professional capacity or to the expert's business relationship with the relevant offeror, the company or the relevant associate;
     (b) particulars of any pecuniary or other interest of the expert that could reasonably be