Corporations Act 2001
Before a body:
(a) makes an offer of debentures in this jurisdiction that needs disclosure to investors under Chapter 6D , or does not need disclosure to investors under Chapter 6D because of subsection 708(14) (disclosure document exclusion for debenture roll overs) or section 708A (sale offers that do not need disclosure); or
(b) makes an offer of debentures in this jurisdiction or elsewhere as consideration for the acquisition of securities under an off-market takeover bid; or
(c) issues debentures in this jurisdiction or elsewhere under a compromise or arrangement under Part 5.1 approved at a meeting held as a result of an order under subsection 411(1) or (1A) ;
An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
The body may revoke the trust deed after it has repaid all amounts payable under the debentures in accordance with the debentures ' terms and the trust deed. 283AA(3)
The body must comply with this Chapter. 283AA(4)
The regulations may exempt a specified offer of debentures, or a specified class of offers of debentures, from subsection (1).
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