ASIC Corporations (Sale Offers That Do Not Need Disclosure) Instrument 2016/80 (Cth)

ASIC Corporations (Sale Offers That Do Not Need Disclosure) Instrument 2016/80

About this compilation

Compilation No. 2

This is a compilation of ASIC Corporations (Sale Offers That Do Not Need Disclosure) Instrument 2016/80 as in force on 29 August 2019. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information about amending instruments and the amendment history of each amended provision.

Contents

Part 1—Preliminary 1 Name of legislative instrument 3 Authority 4 Definitions Part 2—Declaration 5 Sale offers that do not need disclosure 6 Stapled securities Endnotes Endnote 1—Instrument history Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument This instrument is ASIC Corporations (Sale Offers That Do Not Need Disclosure) Instrument 2016/80.

3 Authority This instrument is made under sections 741 and 1020F of the Corporations Act 2001.

4 Definitions In this instrument: Act means the Corporations Act 2001.

Part 2—Declaration

5 Sale offers that do not need disclosure

(1) Chapter 6D of the Act applies to all persons as if subsections 707(3) and (4) were omitted and substituted with:

"(3) An offer of a body's securities for sale within 12 months after their issue needs disclosure to investors under this Part if the body issued the securities:

(a) without disclosure to investors under this Part; and

(b) with the purpose of the person to whom they were issued:

(i) selling or transferring them; or

(ii) granting, issuing or transferring interests in, or options or warrants over, them;

and section 708 or 708A does not say otherwise.".