Corporations Act 2001
Instead of setting out information that is contained in a document that has been lodged with ASIC, a prospectus may simply refer to the document. The reference must:
(a) identify the document or the part of the document that contains the information; and
(b) inform people of their right to obtain a copy of the document (or part) under subsection (5).
[ CCH Note 1: S 712(1) will be amended by No 69 of 2020, s 3, Sch 1 and [ 1072], by substituting " held by the Registrar " for " lodged with ASIC " in the heading and " is covered by subsection (1A) " for " has been lodged with ASIC " , (effective 22 June 2022 or a day or days to be fixed by Proclamation).]
[ CCH Note 2: S 712(1A) will be inserted by No 69 of 2020, s 3, Sch 1 (effective 22 June 2022 or a day or days to be fixed by Proclamation). S 712(1A) will read:
This subsection covers a document that:
(a) is held by the Registrar (including a document that was lodged with ASIC); and
(b) may be accessed by the public in accordance with the disclosure framework.]
The reference must also include:
(a) if the information is primarily of interest to professional analysts or advisers or investors with similar specialist information needs:
(i) a description of the contents of the document (or part); and
(ii) a statement to the effect that the information in the document (or part) is primarily of interest to those people; or
(b) in any other case - sufficient information about the contents of the document to allow a person to whom the offer is made to decide whether to obtain a copy of the document (or part). 712(3)
The document (or part) referred to under subsection (1) is taken to be included in the prospectus. 712(4)
A person who wishes to take advantage of subsection (1) may lodge a document with ASIC even if this Act does not require the document to be lodged.
[ CCH Note: S 712(4) will be amended by No 69 of 2020, s 3, Sch 1 and [ 1075], by substituting " the Registrar " for " ASIC " and inserting " However, the document must satisfy paragraph (1A)(b) and meet any requirements of the data standards. " at the end of subsection, (effective 22 June 2022 or a day or days to be fixed by Proclamation).]
If the prospectus is taken to include a document, or part of a document, under subsection (1), the person making the offer must give a copy of the document (or part) free of charge to anyone who asks for it during the application period of the prospectus. Section does not apply to 2-part simple corporate bonds prospectus 712(6)
This section does not apply to a 2-part simple corporate bonds prospectus.
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