Section 1325B — Corporations Act 2001: Court may order bidder to make offers

(1) If a bidder making a takeover bid for a class of securities contravenes section 631 by failing to make offers under the bid within time and ASIC applies for an order under this section, the Court may: (a) order the bidder to send, to each holder of securities in that class, an offer to which the bidder’s statement relates within a specified time; and (b) make any ancillary orders it thinks appropriate including orders that the bidder: (i) send notices setting out specified information with the offer; and (ii) send copies of the notice within a specified period to the target and, if the target is listed, to the relevant market operator; and (iii) lodge a copy of the notice with ASIC within a specified period. (2) Offers sent in accordance with an order under this section are taken to be made under a takeover bid.