Released 25 November 2003. Comment closed 6 February 2004.

This policy proposal paper explains proposed case-by-case relief from the ‘associate’ definition for the purposes of the takeover, compulsory acquisition and substantial holding provisions of the Corporations Act: s12. Under our proposed relief, parties to a relevant agreement relating to acquisition and disposal of securities (acquisition agreement) are not associates merely because of the acquisition agreement. An example of an acquisition agreement is an option. We propose to give this relief because the scope of the associate definition as extended by reg 1.0.18 and s53 is unclear.

Download Paper 47 (PDF 158 KB) | Read the information release