GIO Australia Holdings Ltd v AMP Insurance Investment Holdings Pty Ltd & Anor [1998] FCA 1669

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 3172 of 1998

BETWEEN: GIO AUSTRALIA HOLDINGS LIMITED

applicant

AND: AMP INSURANCE INVESTMENT HOLDINGS PTY LTD

First Respondent

AMP LIMITED

Second Respondent

JUDGE: EMMETT J

DATE of order: 30 NOVEMBER 1998

where made: SYDNEY

the court declares that:

1. There has been a contravention of clause 18 of Part A of s 750 of the Corporations Law by the Respondent in its Part A Statement registered on 7 September 1998.

THE COURT ORDERS THAT: 2. Notwithstanding the contravention, the Part A Statement be validated ab initio. 3. The Respondent supply to holders of shares in the Applicant, with the same prominence as the Offer and the accompanying Part A Statement, the supplementary material in the form annexed hereto. 4. The Offers, Part A Statement and supplementary material be dispatched by 4 December 1998. 5. Pursuant to section 739 of the Corporations Law: (a) the "takeover period" in relation to the offers made pursuant to the Part A Statement for the purposes of Chapter 6 of the Corporations Law be taken to end at the end of the offer period (as that term is defined in section 603 of the Corporations Law); and (b) the Cross-claimant will not contravene section 746(4) of the Corporations Law provided the Cross-claimant despatches the offers relating to the Part A Statement by 4 December 1998. 6. The latest date for dispatch, under s 637 of the Corporations Law, of the offers relating to the Part A Statement be extended to 4 December 1998. 7. The question of costs be stood over for further submissions on 4 December 1998 at 2.15pm. 8. The Respondents be released from their undertakings given on 25 September 1998. 9. These orders be entered forthwith. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.