Australian Capital Territory Numbered Regulations

COURT PROCEDURES AMENDMENT RULES 2007 (NO 1) (NO 16 OF 2007) - REG 35

insert

12.1B     Notification to court if proceeding started before end of takeover bid period (Corporations Act, s 659B)

    (1)     This rule applies to a party to a proceeding who suspects or becomes aware that—

        (a)     the proceeding was started in relation to a takeover bid, or proposed takeover bid, before the end of the bid period; and

        (b)     the proceeding falls within the definition of court proceedings in relation to a takeover bid or proposed takeover bid in the Corporations Act, section 659B (4).

    (2)     The party identified in subrule (1) must, immediately on suspecting or becoming aware of the matters mentioned in subrule (1), notify any other party to the proceeding and the court of the suspicion or knowledge.

    (3)     The party must comply with subrule (2), unless any other party to the proceeding has given a notice under this rule to the party.