Section 643 — Corporations Act 2001: Supplementary bidder’s statement

(1) If a bidder becomes aware of: (a) a misleading or deceptive statement in the bidder’s statement; or (b) an omission from the bidder’s statement of information required by section 636; or (c) a new circumstance that: (i) has arisen since the bidder’s statement was lodged; and (ii) would have been required by section 636 to be included in the bidder’s statement if it had arisen before the bidder’s statement was lodged; that is material from the point of view of a holder of bid class securities, the bidder must prepare a supplementary bidder’s statement that remedies this defect. Note 1: The bidder must then send and lodge the supplementary bidder’s statement in accordance with section 647. Note 2: Section 670A makes it an offence to give a bidder’s statement after the bidder has become aware of a misleading or deceptive statement, omission or new circumstance that is material from the point of view of a holder of securities to whom the statement is given (unless the deficiency is corrected). Note 3: The power to issue a supplementary bidder’s statement is not limited to the situations dealt with in this section. Note 4: This section applies to a bidder’s statement that has already been previously supplemented. (2) For an offence based on subsection (1), strict liability applies to the conduct, that the bidder must prepare a supplementary bidder’s statement that remedies the defect. Note: For strict liability, see section 6.1 of the Criminal Code.