Screen bid inducements for a collateral benefit
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- During the offer period, list each benefit the lawyer marks as offered, given or agreed by the bidder or an associate. For each, record the recipient, whether the lawyer says it is likely to induce acceptance or a disposal of bid-class securities, and whether the same benefit is offered to all holders. Note the section 623(3) exceptions only where the lawyer marks one. Do not clear the benefit.
- What the lawyer must review
- The lawyer decides whether section 623 applies, whether an exception applies, and whether the benefit can be given. An offence based on section 623(1) is an offence of strict liability.
- 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 | During the offer period, list each benefit the lawyer marks as offered, given or agreed by the bidder or an associate. For each, record the recipient, whether the lawyer says it is likely to induce acceptance or a disposal of bid-class securities, and whether the same benefit is offered to all holders. Note the section 623(3) exceptions only where the lawyer marks one. Do not clear the benefit. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Limit the screen to the offer period. Section 623(1) is confined to that period.
- Do not treat an on-market sale by a holder, while the bid is off-market or conditional, as itself receiving a collateral benefit. That is section 623(2).
- Apply an exception only if the lawyer marks a variation under sections 649A to 650D, an on-market acquisition, or simultaneous bids for different classes.
- Do not describe the benefit as lawful. The lawyer decides.
Sources
- Corporations Act 2001 (Cth) s 623 · 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.