Document ID: chunk:federal_register_of_legislation:C2004A03309:body:0:p9
Version: federal_register_of_legislation:C2004A03309
Segment Type: other
Provision Reference: 
Character Range: 19687–22244

be deemed always to have related to, to relate to, and to have been accepted in relation to, a number of shares included in that class equal to the sum of—
(e) the number of shares of which the proportion referred to in paragraph (a) of this sub-section consists; and
(f) the number of shares in that odd lot of shares.
"(2) Sub-section (1) of this section has effect notwithstanding section 25 or sub-section 25a (1).
"(3) Subject to sub-section (4), sub-section (1) applies in relation to an offer made under a take-over scheme if, and only if, the first offer under the take-over scheme was made after the commencement of Part II of the Companies and Securities Legislation Amendment Act 1986.
"(4) Where, by virtue of paragraph 16 (2ad) (f), take-over offers made under a take-over scheme are to be deemed to have been made in accordance with sub-paragraph 16 (2) (a) (ii), sub-section (1) of this section has effect in relation to each take-over offer made under the take-over scheme, and so has effect—
(a) as if the reference in that sub-section to a particular time included a reference to a time before the commencement of Part II of the Companies and Securities Legislation Amendment Act 1986; and
(b) notwithstanding paragraph 16 (2ad) (g) of this Act.

Offeror not entitled to bid for balance where take-over offer relates to proportion of offeree's shares
"25c. Where a take-over offer (in this sub-section referred to as the 'relevant offer') relating to a proportion of particular shares (in this sub-section referred to as the 'relevant shares') has been made to a person under a take-over scheme under which take-over offers have been made in accordance with sub-paragraph 16 (2) (a) (ii), an offer (other than an offer that the offeror is, by virtue of section 25 or sub-section 25a (1), to be deemed to have made) that—
(a) was or is made by the offeror before, at or after the time when the relevant offer was made;
(b) was or is made to that person or to any other person; and
(c) relates to shares that are or include some or all of such of the relevant shares as are not shares to which the relevant offer relates,
shall be taken to have been, or to be, as the case may be, made otherwise than under the take-over scheme.".
9. After section 31 of the Principal Act the following sections are inserted in Part III:

Constituent documents of a company may require a resolution approving certain acquisitions of shares in the company
"31a. (1) In this section—
'relevant day', in relation to a take-over scheme, means the day that is 14