Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:1_654c
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 1 cl 654C
Character Range: 282285–283138

654C  Disclosures about substantial shareholdings in unlisted companies

 (1) A bidder making a bid for securities of an unlisted company must give the target a notice stating the bidder's voting power in the target if, at a particular time during the bid period, the bidder's voting power in the target rises from below a percentage in the following list to that percentage or higher:
 (a) 25%
 (b) 50%
 (c) 75%
 (d) 90%.

 (2) The notice must be given as soon as practicable, and in any event within 2 business days, after the rise in voting power occurred.

 (3) The target must:
 (a) make the notice available at its registered office for inspection without charge by any holder of bid class securities during the bid period; and
 (b) lodge the notice with ASIC.

Part 6.10—Review and intervention

Division 1—ASIC's power to exempt and modify