Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p57
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 141227–144060

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 to make on the on-market offeror's behalf, before the end of the sixth trading day of the target company's home stock exchange before:
        (a) the end of the period of one month referred to in subsection (2); or
        (b) if that period has been extended pursuant to the previous exercise on at least one occasion of the power conferred by this subsection—the end of the extended period;
    an announcement at a relevant official meeting extending that period or that extended period, as the case may be, for a further period of one month, but so that the total period for which the offers remain open does not exceed 6 months.";
     (e) by inserting in subsection (13) "in relation to a company" after "(12)";
(f) by omitting paragraph (13) (a) and substituting the following paragraph:

        "(a) serve on the company and on the company's home stock exchange; and";
     (g) by omitting subsection (15) and substituting the following subsection:
     "(15) Where:
        (a) a dealer makes 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 person (whether on the person's own behalf or on behalf of another) accepts an offer that is made by virtue of the announcement;
    then:
        (c) unless paragraph (d) applies—the dealer; or
        (d) if the dealer is acting as agent for another dealer—the other dealer;
    shall be deemed to have contracted as principal with that person to acquire the shares to which the acceptance relates, but nothing in this subsection affects the rights and obligations between the dealer, or the other dealer, as the case may be, and the on-market offeror.";
     (h) by omitting from subsection (16) "member of a stock exchange" and substituting "dealer";
     (j) by omitting from subsection (16) "member arising by reason of his" and substituting "dealer arising because of the dealer"; and
     (k) by omitting subsections (18) and (19) and substituting the following subsections:
    "(17a) In relation to an announcement that was made before the commencement of Part III of the Australian Stock Exchange and National Guarantee Fund Act 1987 of the Commonwealth and related to shares included in a class of shares in a company, this Act as in force after that commencement applies as if:
        (a) a person who, at a particular time during the period beginning immediately