Document ID: chunk:federal_register_of_legislation:F2024C00735:body:0:p3
Version: federal_register_of_legislation:F2024C00735
Segment Type: other
Provision Reference: 
Character Range: 7088–10409

in subsection 633(1), substitute:
"12    The target must:

       (a) if the target is not eligible to rely on section 633B—send a copy of the target's statement (and any accompanying report) to each person who, as at the date set by the bidder under subsection (2),  holds:                  For each of subitem (a) and (b), to be done:

          • securities in the bid class; or                                                                                                                                                                                              (a) no earlier than the day on which the target sends the target's statement to the bidder; and

          • if the bid extends to securities that come to be in the bid class due to the conversion of or exercise of rights attached to other securities or derivatives (see subsection 617(2))–the other securities or derivatives;    (b) no later than 15 days after the target receives a notice that all offers have been sent as required by item 6.

       or:

       (b) if the target is eligible to rely on section 633B—send a copy of the replacement target's statement (and any accompanying report) to each person who, as at the date set by the bidder under subsection (2), holds:         Sections 648B and 648C provide for the manner in which documents may be sent to holders.";

          • securities in the bid class; or                                                                                                                                                                                                                 ";

          • if the bid extends to securities that come to be in the bid class due to the conversion of or exercise of rights attached to other securities or derivatives (see subsection 617(2))–the other securities or derivatives;

(c) after section 633 insert:

           "633A Off-market bid–Replacement bidder's statement
              (1) This section applies to an off-market bid before the bidder's statement has been sent to any holder of bid class securities.
              (2) For the purposes of subitem 6(b) of the table in subsection 633(1), a bidder is eligible to rely on this section if the bidder, no later than the time allowed for sending the original bidder's statement to persons holding bid class securities under subitem 6(a) of the table in subsection 633(1):
                  (a) lodges with ASIC; and
                  (b) sends to the target; and
                  (c) if the bid class securities are quoted and the target is listed—sends to the operator of each prescribed financial market on which the target's securities are quoted;
              a replacement bidder's statement and a copy of that replacement bidder's statement marked to show all changes from the original bidder's statement.
              (3) In this section and subsection 633(1):
              replacement bidder's statement means a bidder's statement that:
                  (a) incorporates all the substantive information in an original bidder's statement and in each supplementary bidder's statement that was lodged in relation to the original bidder's statement before, or at the same time as, the time when the replacement bidder's statement is lodged with ASIC; and
                  (b) explains that