Check bid consideration against purchases in the previous four months
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the purchase list the lawyer supplies, set out for each purchase in the four months before the date of the bid the security, the date, the cash amount per security, and any non-cash consideration the lawyer has described. Compare the bid price with the highest figure on that list using section 621(4). List the section 636(h) disclosure items for each purchase. Do not value non-cash consideration.
- What the lawyer must review
- The lawyer fixes the date of the bid, decides which transactions are purchases or agreements by the bidder or an associate, values any non-cash consideration at the time of the transaction, and decides whether the bid consideration complies with section 621(3).
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the purchase list the lawyer supplies, set out for each purchase in the four months before the date of the bid the security, the date, the cash amount per security, and any non-cash consideration the lawyer has described. Compare the bid price with the highest figure on that list using section 621(4). List the section 636(h) disclosure items for each purchase. Do not value non-cash consideration. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Include agreements to buy, not only completed purchases. Section 621(3) covers consideration the bidder or an associate provided or agreed to provide.
- For a market bid, confirm the offer is a cash sum only, as section 621(2) requires.
- Value non-cash consideration at the time of the offer, purchase or agreement, as section 621(4) states. Do not use today's price unless the lawyer adopts it.
- Match the table to the section 636(h) disclosure: cash amount per security, market price per security for quoted securities, or value per security otherwise.
Sources
- Corporations Act 2001 (Cth) s 621 · 2026-10-22
- Corporations Act 2001 (Cth) s 636 · 2026-10-22
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.