Section 639 — Corporations Act 2001 (Cth)

Approval

(1) The copy of the target’s statement that is lodged with ASIC must be approved by:

(a) if paragraphs (b) and (c) do not apply—a resolution passed by the directors of the target; or

(b) for a target that is under administration—the liquidator or administrator; or

(c) for a target that has executed a deed of company arrangement that has not yet terminated—the deed’s administrator.

Date

(2) The target’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.

Related sections

• s 636 — Bidder’s statement content
• s 637 — Bidder’s statement formalities
• s 638 — Target’s statement content
• s 640 — Expert’s report to accompany target’s statement if bidder connected with target
• s 641 — Target must inform bidder about securities holdings
• s 641A — Use or disclosure of information obtained from target

Research how courts apply s 639

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