Document ID: chunk:federal_register_of_legislation:C2025C00185:section:665c
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 665C
Character Range: 2641954–2643044

665C  Right of holders of convertible securities to be bought out
 (1) Within 1 month after notice under section 665B is given in relation to convertible securities, the holder of the convertible securities may give the 100% holder a notice requiring the 100% holder to acquire the securities.
 (2) The notice by the holder of convertible securities gives rise to a contract between the holder and the 100% holder for the sale of the securities on:
 (a) terms agreed to by the 100% holder and the holder of the convertible securities; or
 (b) the terms determined by the Court on application by the holder of the convertible securities.
 (3) If the Court makes a determination under paragraph (2)(b) in relation to the terms of sale for a holder's convertible securities of a particular class, the determination applies to all holders of convertible securities in that class who have applications to the Court pending for a determination under that paragraph in relation to the terms of sale of their convertible securities.

Part 6A.3—Completion of compulsory acquisition of securities