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How does the BRM/Wah Nam options scheme mesh with section...

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    How does the BRM/Wah Nam options scheme mesh with section 628????
    Come on ASIC! (sorry, a bad joke!)

    CORPORATIONS ACT 2001 - SECT 628
    Conditions requiring payments to officers of target not allowed in off-market bids

    An offer to a person under an off-market bid must NOT (my emphasis) be made subject to a condition that requires the person to approve or consent to a payment or other benefit to an officer or employee of the target or a related body corporate:

    (a) as compensation for loss of; or

    (b) as consideration in connection with retirement from;

    any office or employment in connection with the management of the target or of a related body corporate. A purported requirement of this kind is void.
 
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