---
title: "Check whether unaccepted offers can be withdrawn"
url: "https://ailawframework.com/practice/mergers-and-acquisitions-private-equity/check-whether-unaccepted-offers-can-be-withdrawn"
type: "task"
site: "AI Law Framework"
id: "A2-TM20261022-11"
practice_area: "Mergers & Acquisitions / Private Equity"
tier: "yellow"
lawyer_review: "required"
last_reviewed: "2026-10-22"
---

# Check whether unaccepted offers can be withdrawn

> 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.…

Canonical page: https://ailawframework.com/practice/mergers-and-acquisitions-private-equity/check-whether-unaccepted-offers-can-be-withdrawn  
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 | 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 / 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: 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 does: The lawyer decides whether to seek consent, on what conditions, and whether the consent in hand covers these offers.
- 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. Section 652B says unaccepted offers under a takeover bid may be withdrawn with ASIC's written consent. ASIC may consent subject to conditions.
2. Do not add a ground for withdrawal that the section does not state.
3. A consent that is not written does not meet the section as opened.

## 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 652B, withdrawal with ASIC consent](https://classic.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s652b.html) (checked 2026-10-22)

## Jurisdiction versions

| Jurisdiction | Level |
| --- | --- |
| [United States](https://ailawframework.com/practice/mergers-and-acquisitions-private-equity/check-whether-unaccepted-offers-can-be-withdrawn/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.*