ASIC’s updated RG 60 provides that:
- ASIC will consider any objections to a scheme, in determining whether ASIC will give its typical ‘no intentions’ statement under section 411(17)(b) Corporations Act to the court in relation to the scheme;
- ASIC will closely consider schemes that offer collateral benefits and/or unequal consideration; and
- ASIC will examine schemes that result in a reverse takeover on a case-by-case basis.
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Posted 23rd September 2011 by David Jacobson in Corporations Act