Offers must be for all or a proportion of securities in the bid class
Off‑market bid (1) An offer for securities under an off‑market bid must be an offer to buy: (a) all the securities in the bid class; or (b) a specified proportion of the securities in the bid class. The proportion specified under paragraph (b) must be the same for all holders of securities in the bid class. Off‑market bid—non‑marketable parcels (2) If accepting an offer under an off‑market bid for quoted securities would leave a person with a parcel of the securities that is less than a marketable parcel (within the meaning of the rules of the relevant financial market), the offer extends to that parcel. Market bid (3) An offer for securities under a market bid must be an offer to buy all the securities in the bid class.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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