---
title: "Check the offer period against the one-month and twelve-month limits"
url: "https://ailawframework.com/practice/mergers-and-acquisitions-private-equity/check-the-offer-period-against-the-one-month-and-twelve-month-limits"
type: "task"
site: "AI Law Framework"
id: "A2-TM20261022-8"
practice_area: "Mergers & Acquisitions / Private Equity"
tier: "yellow"
lawyer_review: "required"
last_reviewed: "2026-10-22"
---

# Check the offer period against the one-month and twelve-month limits

> From the offer the lawyer supplies, record the date the first offer is made and the end date stated in the offer.…

Canonical page: https://ailawframework.com/practice/mergers-and-acquisitions-private-equity/check-the-offer-period-against-the-one-month-and-twelve-month-limits  
Last reviewed: 2026-10-22

Site index for agents: https://ailawframework.com/llms.txt

## Key facts

| Fact | Value |
| --- | --- |
| Practice area | [Mergers & Acquisitions / Private Equity](https://ailawframework.com/practice/mergers-and-acquisitions-private-equity.md) |
| Human involvement | Yellow: Lawyer and AI draft together |
| 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 / versions | 1 jurisdiction versions below |

## Checking plan

**Source-by-source verification**

Trace relied-on content to independent sources and check for relevant material the output has missed.

- What the AI does: 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 does: 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.
- Who reviews: Responsible lawyer with competence in the matter
- Basis: Practical workflow informed by the linked primary sources; the traffic light and working checks are editorial guidance, not a court classification.
- Why: The level reflects what the work is, the consequence of an error, and how much of the output the lawyer must independently re-derive.

## Checks the lawyer makes

1. 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.
2. 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.
3. 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.
4. 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.

## Notes

- 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.

## Sources

- [Corporations Act 2001 s 624, offer period](https://classic.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s624.html) (checked 2026-10-22)

## Jurisdiction versions

| Jurisdiction | Level |
| --- | --- |
| [United States](https://ailawframework.com/practice/mergers-and-acquisitions-private-equity/check-the-offer-period-against-the-one-month-and-twelve-month-limits/united-states.md) | Yellow |

*Practice guidance for planning and review. Confirm current primary sources and the requirements of the actual matter. This is general information, not legal advice.*