CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 6D - FUNDRAISING
History
Chapter 6D inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).
PART 6D.3 - PROHIBITIONS, LIABILITIES AND REMEDIES
History
Part 6D.3 inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).
Division 1 - Prohibitions and liabilities
SECTION 736
SECURITIES HAWKING PROHIBITED
736(1)
[Hawking]
A person must not offer securities for issue or sale in the course of, or because of, an unsolicited:
(a)
meeting with another person; or
(b)
telephone call to another person;
unless the offer is exempted under subsection
(2).
Note:
Section
700 extends offers to include invitations and distributing application forms.
736(2)
[Exceptions]
Subsection
(1) does not prohibit an offer of securities if:
(a)
the offer does not need a disclosure document because of subsection
708(8) or
(10) (sophisticated investors); or
(b)
the offer does not need a disclosure document because of subsection
708(11) (professional investors); or
(c)
the offer is an offer of listed securities made by telephone by a licensed securities dealer; or
(d)
the offer is made to a client by a licensed securities dealer through whom the client has bought or sold securities in the last 12 months.
History
S 736 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).
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