Section 629 is a doozy which Wah Nam and its associates have...

Section 629 is a doozy which Wah Nam and its associates have trampled right through.


CORPORATIONS ACT 2001 - SECT 629
Conditions turning on bidder's or associate's opinion not allowed in off-market bids

(1) Offers under an off-market bid must not be subject to a defeating condition if the fulfilment of the condition depends on:

(a) the bidder's, or an associate's, opinion, belief or other state of mind; or

(b) the happening of an event that is within the sole control of, or is a direct result of action by, any of the following:

(i) the bidder (acting alone or together with an associate or associates);

(ii) an associate (acting alone or together with the bidder or another associate or associates of the bidder).

A purported condition of this kind is void.

http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s629.html