CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE, SALE AND PURCHASE OF FINANCIAL PRODUCTS  

Division 5B - Disclosure etc. in relation to short sales covered by securities lending arrangement of listed section 1020B products  

Note: Section 1020B prohibits certain short sales of section 1020B products.

SECTION 1020AD   PUBLIC DISCLOSURE OF INFORMATION  

1020AD(1)   [ Application]  

Subsection (2) applies if:


(a) any of the following apply, in relation to a sale of section 1020B products on a licensed market:


(i) the seller mentioned in subparagraph 1020AB(1)(a)(ii) gives information to the operator of a licensed market (or to another entity) in accordance with section 1020AB ;

(ii) the financial services licensee mentioned in paragraph 1020AC(1)(a) gives information to the operator of a licensed market (or to another entity) in accordance with section 1020AC ;

(iii) if regulations for the purposes of subparagraph 1020AB(4)(a)(ii) provide that the entity to which information is to be given in accordance with section 1020AB is the operator of a licensed market (or another entity) - the seller mentioned in subparagraph 1020AB(1)(a)(i) gives information to the operator (or other entity) in accordance with that section; and


(b) the following requirements are satisfied (if applicable):


(i) if regulations made for the purposes of this subparagraph specify a kind of section 1020B product - the section 1020B products are of that kind;

(ii) if regulations made for the purposes of this subparagraph specify a kind of section 1020B product - the section 1020B products are not of that kind;

(iii) if regulations made for the purposes of this subparagraph specify circumstances in which the sale is made - the sale is made in those circumstances.

1020AD(2)   Offence.  

The operator (or the other entity) must:


(a) make a public disclosure of particulars specified in the regulations in relation to the information mentioned in paragraph (1)(a); and


(b) do so:


(i) on or before the time specified in the regulations; and

(ii) in the manner specified in the regulations.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).


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