ASIC Market Integrity Rules (ASX Market) 2010 - LexisNexis

LexisNexis ASIC Market Integrity Rules (ASX Market) 2010Part 6.2 Acquisition of Cash Market Products during the Bid Period6.2.1 Acquisition of Cash Market Products by Bidder(1) This rule applies to both Market Bids and Off-Market Bids.(2) A Market Participant acting on behalf of a Bidder must not offer to buy on behalf of theBidder Cash Market Products in the Bid Class On-Market during the Bid Period for a pricethat varies from the consideration offered under the Takeover Bid unless and until anannouncement has been made to the Market.(3) For the purposes of subrule (2), the announcement must be made in writing, by facsimileor electronic delivery to the Market Operator.Maximum penalty: $100,0006.2.2 Acquisition of Cash Market Products by another Bidder(1) Where Cash Market Products are subject to a Market Bid, a Market Participant acting onbehalf of another Bidder, must not buy the Cash Market Products in the Bid Class of theTarget on behalf of that Bidder unless and until the Market Participant has announced inaccordance with subrule (2):(a)(b)a Market Bid on behalf of the person pursuant to Rule 6.1.1; oran increase in the price offered under a Market Bid for the Cash Market Productspursuant to Rule 6.1.2.(2) For the purposes of subrule (1), the announcement must be made in writing, by facsimileor electronic delivery to the Market Operator.Maximum penalty: $100,000Part 6.3 Market Participant acting for Bidder or Issuer6.3.1 Market Participant to advise seller if acting for Bidder or IssuerWhere a Market Participant:(a)(b)(c)has an order from the Bidder in relation to an Off-Market Bid;has made an announcement to the Market on behalf of a Bidder to acquire Cash MarketProducts under a Market Bid; oracts for a company involved in a buy-back under Chapter 2J of the Corporations Actconducted On-Market,the Market Participant must not accept, or transact, an order to sell Cash Market Products inthe Bid Class referred to in paragraph (a) or subject to the announcement referred to inCopyright Australian Securities and Investments Commission. Reproduced with permission.