Document ID: chunk:federal_register_of_legislation:C2004A03231:body:0:p12
Version: federal_register_of_legislation:C2004A03231
Segment Type: other
Provision Reference: 
Character Range: 29730–32463

a copy of a Part A statement and a copy of a proposed offer are lodged with the Commission for registration under sub-section (1), the Commission may refuse to register the copy of the proposed offer if the proposed offer is subject to a prescribed condition the fulfilment of which depends on—
     (a) an opinion, belief or other state of mind of the offeror or of a person associated with the offeror; or
     (b) whether or not a particular event happens, being an event that is within the sole control of the offeror or of a person associated with the offeror.
"(2b) Where a copy of a Part A statement relating to an offer to acquire shares (whether the offer was made before, or is made after, the relevant commencement) was lodged with the Commission before the relevant commencement for registration under sub-section (1) of this section, then—
     (a) section 13, paragraph 16 (2) (f), sub-section (2a) of this section, and sections 21, 27 and 28, as in force after the relevant commencement, do not apply; and
     (b) notwithstanding the amendments made, and the repeals effected, by sections 9, 11, 13, 14, 15, 16 and 17 of the relevant Act, the provisions of section 13, paragraph 16 (2) (f), this section and sections 21, 27, 28

     and 29 of this Act, being those provisions as in force immediately before the relevant commencement, apply,
in relation to—
     (c) an offer to which the Part A statement relates;
     (d) a contract resulting from the acceptance of an offer to which the Part A statement relates; or
     (e) the take-over scheme under which the offers to which the Part A statement relates were or are made.
"(2c) In sub-section (2b) and this sub-section—
     'relevant Act' means the Companies and Securities Legislation (Miscellaneous Amendments) Act 1985;
     'relevant commencement' means the commencement of sections 9, 11, 13, 14, 15, 16 and 17 of the relevant Act.".

14. Section 21 of the Principal Act is repealed and the following section is substituted:

Withdrawal of offers
"21. A take-over offer is not capable of being withdrawn without the consent in writing of the Commission, which may be given subject to such conditions (if any) as are specified in the consent.".

Variation of take-over offers
15. Section 27 of the Principal Act is amended—
     (a) by inserting after sub-section (8) the following sub-section:
    "(8a) Sub-section (8) has effect in relation to a take-over scheme subject to any condition specified in a consent under section 21 given in relation to an offer made under the take-over scheme.";
     (b) by omitting sub-section (10) and substituting the following sub-section:
         "(10) Variations of offers under a take-over scheme shall be made by—