Corporations Act 2001

Offers under a market bid must be unconditional.

Offers under an off‑market bid may be subject to conditions that are not prohibited by sections 626 to 629.

If:

the consideration offered is or includes securities; and

the offer or the bidder’s statement states or implies that the securities are to be quoted on a financial market (whether in Australia or elsewhere);

the offer is subject to a condition that:

an application for admission to quotation will be made within 7 days after the start of the bid period; and

permission for admission to quotation will be granted no later than 7 days after the end of the bid period;

the offer may not be freed from this condition.

Section 1325A provides that a Court may make a remedial order if the condition is not satisfied.