Document ID: chunk:federal_register_of_legislation:F2024C00735:body:0:p6
Version: federal_register_of_legislation:F2024C00735
Segment Type: other
Provision Reference: 
Character Range: 15708–18835

of bid class securities.

              (2) For the purposes of subitem 6(b) of the table in subsection 635(1), a bidder is eligible to rely on this section if the bidder, no later than the time allowed for sending the original bidder's statement to persons holding bid class securities under subitem 6(a) of the table in subsection 635(1):

                  (a) lodges with ASIC; and

                  (b) sends to the target; and

                  (c) sends to the operator of each prescribed financial market on which the target's securities are quoted;

              a replacement bidder's statement and a copy of that replacement bidder's statement marked to show all changes from the original bidder's statement.

              (3) In this section and in subsection 635(1):

              replacement bidder's statement means a bidder's statement that:

                  (a) incorporates all the substantive information in an original bidder's statement and in each supplementary bidder's statement that was lodged in relation to the original bidder's statement before, or at the same time as, the time when the replacement bidder's statement is lodged with ASIC; and

                  (b) explains that it replaces the original bidder's statement and each supplementary statement and states the date or dates that the original bidder's statement and each supplementary statement were lodged with ASIC; and

                  (c) bears a date that is the same as the date that it is lodged with ASIC; and

                  (d) sets out or reflects offers under the bid that are on the same terms as those set out in the original bidder's statement and offer document (if any) lodged with ASIC under item 5 of the table in subsection 635(1).";
(i) after section 635A insert:

           "635B Market bid–Replacement target's statement

              (1) This section applies to a market bid before the target's statement has been sent to any holder of bid class securities.

              (2) For the purposes of subitem 13(b) of the table in subsection 635(1), a target is eligible to rely on this section if the target, no later than the time allowed for sending the original target's statement to persons holding bid class securities under subitem 13(a) of the table in subsection 635(1):

                  (a) lodges with ASIC; and

                  (b) sends to the bidder; and

                  (c) sends to the operator of each prescribed financial market on which the target's securities are quoted;

              a replacement target's statement and a copy of that replacement target's statement marked to show all changes from the original target's statement.

              (3) In this section and in subsection 635(1):

              replacement target's statement means a target's statement that:

                  (a) incorporates all the substantive information in an original target's statement and in each supplementary target's statement that was lodged in relation to the original target's statement before, or at the same time as, the time when the replacement target's