Section 1240C — Corporations Act 2001: Takeovers—bidder’s statement content

(1) Subsection 636(1) has effect as if: (a) a reference in paragraph 636(1)(c) to a company or body did not include a reference to a CCIV that is a listed company; and (b) subsection 636(1) also included the following paragraph: “(da) if the target is a CCIV that is a listed company—details of the bidder’s intentions regarding: (i) the continued operation of the CCIV; and (ii) any major changes to be made to the operation of the CCIV, including any redeployment of the property of the CCIV; and (iii) any plans to remove the current corporate director of the CCIV and appoint a new corporate director;”. (2) Subsection 636(1) also has effect as if: (a) a reference in paragraph 636(1)(g) to securities did not include a reference to securities in a CCIV that is a listed company; and (b) subsection 636(1) also included the following paragraph: “(gb) if any securities in a CCIV that is a listed company are offered as consideration under the bid and the bidder is: (i) a retail CCIV; or (ii) the corporate director of a retail CCIV; or (iii) a person who controls a retail CCIV or the corporate director of a retail CCIV; all material that would be required by section 1013C to be included in a Product Disclosure Statement given to a person in an issue situation in relation to those securities;”.