Check whether unaccepted offers can be withdrawn
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Record whether the lawyer has a written consent from ASIC, and any condition stated in that consent. If there is no written consent, flag the withdrawal as not supported by section 652B. Do not draft the request for consent.
- What the lawyer must review
- The lawyer decides whether to seek consent, on what conditions, and whether the consent in hand covers these offers.
- 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 | Record whether the lawyer has a written consent from ASIC, and any condition stated in that consent. If there is no written consent, flag the withdrawal as not supported by section 652B. Do not draft the request for consent. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Section 652B says unaccepted offers under a takeover bid may be withdrawn with ASIC's written consent. ASIC may consent subject to conditions.
- Do not add a ground for withdrawal that the section does not state.
- A consent that is not written does not meet the section as opened.
Sources
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.