Check the offer period against the one-month and twelve-month limits
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the offer the lawyer supplies, record the date the first offer is made and the end date stated in the offer. Flag the period if it does not start on the date of the first offer, or if it is shorter than one month or longer than 12 months. If the lawyer marks an event in the last seven days, calculate an end date 14 days after that event and a notice date three days after the event. Do not decide whether voting power has passed 50 per cent.
- What the lawyer must review
- The lawyer decides whether the period complies with section 624 and whether an automatic extension has been triggered. The lawyer reads section 649B before applying the note about market bids.
- 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 offer the lawyer supplies, record the date the first offer is made and the end date stated in the offer. Flag the period if it does not start on the date of the first offer, or if it is shorter than one month or longer than 12 months. If the lawyer marks an event in the last seven days, calculate an end date 14 days after that event and a notice date three days after the event. Do not decide whether voting power has passed 50 per cent. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- The offers must remain open for the period stated in the offer. That period starts on the date the first offer is made and lasts at least one month and not more than 12 months.
- Within the last seven days, an automatic extension to 14 days after the event applies if, for an off-market bid, the offers are varied to improve the consideration, or if, in any case, the bidder's voting power in the target increases to more than 50 per cent.
- The bidder must give the target, and everyone who has not accepted, written notice of that extension within three days after the event. An offence based on subsection (2) is strict liability.
- The section's note says market-bid consideration cannot be increased in the last five trading days and points to section 649B. Section 649B was not opened. Do not apply that limit until the lawyer has read it.
Sources
- Corporations Act 2001 s 624, offer period · 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.