Section 625 — Corporations Act 2001: Conditional offers—general

Market bids (1) Offers under a market bid must be unconditional. Off-market bids may generally be conditional (2) Offers under an off-market bid may be subject to conditions that are not prohibited by sections 626 to 629. (3) If: (a) the consideration offered is or includes securities; and (b) the offer or the bidder’s statement states or implies that the securities are to be quoted on a financial market (whether in Australia or elsewhere); the following rules apply: (c) the offer is subject to a condition that: (i) an application for admission to quotation will be made within 7 days after the start of the bid period; and (ii) permission for admission to quotation will be granted no later than 7 days after the end of the bid period; (d) the offer may not be freed from this condition. Note: Section 1325A provides that a Court may make a remedial order if the condition is not satisfied.