This is from an article I found dated May 2002, not sure if...

This is from an article I found dated May 2002, not sure if still relevant today.

http://www.allens.com.au/pubs/pdf/ma/foma2may02.pdf

As the new compulsory acquisition procedures no longer depend upon a successful takeover bid, the following protective measures were introduced:
• The threshold has been elevated (ie the 90% holder must hold a “full bene?cial interest” in at least 90% by value of the securities in the class, or in securities convertible into securities of that class, whereas following a takeover bid a “relevant interest” in the securities is suf?cient.

• The 90% holder must commission an independent expert’s report.

• If 10% of the outstanding security holders in a class (by value) object, then the acquisition cannot proceed without the approval of the court.

• The 90% holder must pay the legal costs incurred by
objectors who oppose the compulsory acquisition,
provided that the objectors have not acted
improperly, vexatiously or otherwise unreasonably.