(1) The principal steps in an acquisition by agreement are:
(a) the making of a pre - acquisition declaration under Part V;
(b) any reconsideration or review of the pre - acquisition declaration under Part V;
(c) the authorisation of the acquisition under section 40;
(d) the making of the agreement under Part VI; and
(e) the taking of actions required by the agreement to complete the acquisition.
(2) The making of a pre - acquisition declaration is not required if:
(a) the relevant interest is available in the market within the meaning of section 40;
(b) the interest to be acquired is owned by another acquiring authority; or
(c) a certificate has been given under section 24.