Corporations Act 2001
View history note
Hide history noteCCH Note: Division 1 is modified by the ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 2023/668; and the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.
CCH Note: Section 705 is modified by the ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 2023/668; and the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.
The following table shows what disclosure documents to use if an offer of securities needs disclosure to investors under this Part.
| Disclosure document | ||
| Type | Sections | |
| 1 | prospectus | |
| The standard full-disclosure document. | content [ 710, 711, 713 ] | |
| procedure [ 717 ] | ||
| liability [ 728 and 729 ] | ||
| defences [ 731, 733 ] | ||
| 2 | short form prospectus | |
| May be used for any offer. | content [ 712 ] | |
| Section 712 allows a prospectus to refer to material lodged with ASIC instead of setting it out. | ||
| Investors are entitled to a copy of this material if they ask for it. | ||
| 2A | 2-part simple corporate bonds prospectus | |
| Must be used for any offer of simple corporate bonds. | content [713C, 713D, 713E]
procedure [717] liability [728 and 729] defences [731 and 733] |
|
| 3 | profile statement | |
| Section 721 allows a brief profile statement (rather than the prospectus) to be sent out with offers with ASIC approval. The prospectus must still be prepared and lodged with ASIC. Investors are entitled to a copy of the prospectus if they ask for it. | content
[
714
]
procedure [ 717 ] liability [ 728 and 729 ] defences [ 732, 733 ] |
|
| 4 | offer information statement | |
| Section 709 allows an offer information statement to be used instead of a prospectus for an offer to issue securities if the amount raised from issues of securities is $10 million or less. | content
[
715
]
procedure [ 717 ] liability [ 728 and 729 ] defences [ 732, 733 ] |
Note: Subsection 709(1A) provides that if the offer period for an offer of simple corporate bonds begins during the 2-year period beginning at the commencement of that subsection, a prospectus (other than a 2-part simple corporate bonds prospectus) may be prepared.
[ CCH Note: S 705 will be amended by No 69 of 2020, s 3, Sch 1[1063] and [ 1064], by substituting " the Registrar " for " ASIC " in table item 2, column headed " Type " and " the Registrar " for " ASIC " (second occurring) in table item 3, column headed " Type " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
[ CCH Note: Act No 101 of 2007, Sch 1, Pt 6 [ 237] contained the following application provision (which was effective 28 June 2007):
Application of items 73, 75 to 77 and 84
The amendments made by items 73, 75 to 77 and 84 of this Schedule apply to offers of securities made on or after the day on which those items commence.]
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
