CORPORATIONS ACT 2001
An offer of securities becomes a recognised offer , in relation to a recognised jurisdiction, on the day the offer is first made in this jurisdiction, if the conditions in section 1200C are met in relation to the offer on that day.1200B(2) [ Offer continues to be recognised offer]
The offer continues to be a recognised offer after that day, even if a condition in section 1200C ceases to be met after that day.1200B(3) [ ASIC may declare offer a recognised offer]
If, at the time an offer is first made in this jurisdiction, the offer would be a recognised offer but for a failure to meet the condition in subsection 1200C(5) or (6) that ASIC is satisfied is minor or technical, ASIC may declare in writing that the offer is a recognised offer within the meaning of subsection (1).1200B(4) [ Time the condition is met]
If ASIC makes a declaration under subsection (3) in relation to an offer, the condition is taken to have been met at the time the offer was first made in this jurisdiction.1200B(5) [ Declaration not a legislative instrument]
A declaration under subsection (3) is not a legislative instrument.