What are the 3 major areas regulated by the Corporations Act 2001?

The Corporations Act 2001 (Cth) is the principal legislation regulating business entities (primarily companies) in Australia. It regulates matters such as the formation and operation of companies (in conjunction with a constitution that may be adopted by a company), duties of officers, takeovers and fundraising.

What is the main purpose of the Corporations Act 2001?

It regulates matters such as the formation and operation of companies (in conjunction with a constitution that may be adopted by a company), duties of officers, takeovers and fundraising.

What is a compulsory acquisition under a takeover bid?

Compulsory acquisition A bidder under a takeover bid 11 may compulsorily acquire any remaining securities in the bid class if during, or at the end of, the offer period, the bidder and their associates have: relevant interests in at least 90% (by number) of the securities in the bid class and

What is an example of a takeover bid?

Some examples of takeover bids include: Two-Tier Bid: The acquiring company is willing to pay a premium above and beyond the share’s price to convince shareholders to sell their shares. Any-and-All Bid: The acquiring company offers to buy any of the target firm’s outstanding shares at a specific price.

When to accept a takeover offer under the Corporations Regulations?

RG 9.595 Under s653A and reg 6.8.01 of the Corporations Regulations, an acceptance of a takeover offer for quoted securities to which the operating rules of a clearing and settlement facility apply is only effective if made in the way specified in those rules.

Can convertible securities be acquired under a takeover bid?

RG 9.54 These provisions were introduced to better facili tate the acquisition of securities under a takeover bid, including securities that come into existence on the conversion of convertible securities. REGULATORY GUIDE 9: Takeover bids © Australian Securities and Investments Commission September 2020 Page 18