Bidder’s statement formalities
Approval (1) The copy of the bidder’s statement that is lodged with ASIC must be approved by: (a) for a bidder that is a body corporate (other than a notified foreign passport fund): (i) if the consideration offered under the bid is a cash sum only—a resolution passed by the directors of the bidder; or (ii) otherwise—a unanimous resolution passed by all the directors of the bidder; or (b) for a bidder who is an individual—the bidder. (2) The bidder’s statement must be dated. The date is the date on which it is lodged with ASIC. Strict liability offences (3) An offence based on subsection (1) or (2) is an offence of strict liability. Note: For strict liability, see section 6.1 of the Criminal Code.
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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