Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p56
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 138803–141504

person, or 2 or more persons together, may make offers to acquire shares included in a class of shares in a stock exchange listed company by causing a dealer to make on its or their behalf at a relevant official meeting an announcement to the effect that, during the period of one month beginning on the first trading day of the company's home stock exchange after the end of 14 days after the day of the announcement, the dealer offers, on behalf of that person or those persons, to acquire, at a cash price per share specified in the announcement, all shares that are included in that class and in respect of which offers constituted by the announcement are accepted in accordance with subsection (2a).
     "(2a) Offers that relate to shares included in a class of shares in a company and that are constituted by an announcement made by a dealer in accordance with this section may be accepted:
     (a) in any case—at a relevant official meeting; or
     (b) if the offers cannot be accepted at a particular relevant official meeting:
        (i) because neither the dealer nor a representative of the dealer is present at that official meeting;

        (ii) because dealings in shares included in that class are not permitted at that official meeting; or
        (iii) for any other reason;
    by a notice in writing that is signed by or on behalf of a holder of shares included in that class and is served on the company's home stock exchange on the day of that official meeting.";
     (b) by omitting subsections (4) and (5) and substituting the following subsection:
        "(5) Where:
        (a) a dealer has made an announcement, in accordance with this section or a provision of a law of a participating State or participating Territory that corresponds with this section, at a relevant official meeting held on a stock market maintained or provided in the Territory; and
        (b) a notice accepting an offer made by virtue of the announcement is served on a stock exchange in accordance with this section or that provision, as the case may be;
    the stock exchange shall, as soon as practicable, notify the dealer of the acceptance of the offer.";
     (c) by omitting from subsection (11) "an announcement to be made on behalf of the on-market offeror by a member of the stock exchange that is referred to in subsection (2) at an official meeting of that stock exchange" and substituting "a dealer to make on the on-market offeror's behalf at a relevant official meeting an announcement";
     (d) by omitting subsection (12) and substituting the following subsection:
    "(12) An on-market offeror who has made offers constituted by a take-over announcement may cause a dealer