Document ID: chunk:federal_register_of_legislation:C2025C00185:section:663c
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 663C
Character Range: 2627139–2628141

663C  Right of holders of convertible securities to be bought out
 (1) Within 1 month after notice under section 663B is given in relation to convertible securities, the holder of the convertible securities may give the bidder a notice requiring the bidder to acquire the securities.
 (2) The holder's notice gives rise to a contract between the holder and the bidder for the sale of the securities on:
 (a) the terms agreed to by the bidder and the holder; or
 (b) the terms determined by the Court on application by the holder.
 (3) If the Court makes a determination under paragraph (2)(b) in relation to the terms of sale for a holder's securities of a particular class, the determination applies to all holders of 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 securities.

Part 6A.2—General compulsory acquisitions and buy‑outs

Division 1—Compulsory acquisition of securities by 90% holder