Document ID: chunk:federal_register_of_legislation:F2024C00735:body:0:p5
Version: federal_register_of_legislation:F2024C00735
Segment Type: other
Provision Reference: 
Character Range: 12867–15945

subsection 635A—send to each holder of bid class securities (other than the bidder):  For subitem (a), within 14 days after the announcement is made.

         • a copy of the bidder's statement; and

         • a copy of any other document that was sent with the bidder's statement to the relevant market operator;
      or:

      (b) if the bidder is eligible to rely on section 635A—send to each holder of bid class securities (other than the bidder):         For subitem (b), within 14 days after the bidder is eligible to rely on section 635A.

         • a copy of the replacement bidder's statement; and                                                                             Sections 648B and 648C provide for the manner in which documents may be sent to holders.";

         • a copy of any other document that was sent with the replacement bidder's statement to the relevant market operator.

(f) omit item 13 in the table in subsection 635(1), substitute:
"13    The target must:

       (a) if the target is not eligible to rely on subsection 635B—send each holder of bid class securities:                    For each of subitem (a) and (b), no later than the last date for the bidder to send the bidder's statement under item 6(a), or the replacement bidder's statement under item 6(b) as applicable.

          • a copy of the target's statement; and

          • a copy of any other document that was sent with the target's statement to the relevant market operator;
       or:

       (b) if the target is eligible to rely on subsection 635B—send each holder of bid class securities:                        Sections 648B and 648C provide for the manner in which documents may be sent to holders.";

          • a copy of the replacement target's statement; and

          • a copy of any other document that was sent with the replacement target's statement to the relevant market operator.

            (g)  omit item 14 in the table in subsection 635(1), substitute:
"14  The bidder must make offers for the securities under the bid through the relevant financial market.  To be done on the next day after the date referred to in item 13.

                                                                                                          If the bidder does not make the offers at that time, the bidder contravenes this section.

                                                                                                          Item 2 of the table in section 611 covers offers made by the bidder on market during the period between the announcement and the making of the offers under the bid.";

(h) after section 635 insert:

           "635A Market bid–Replacement bidder's statement

              (1) This section applies to a 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 635(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