THE CORPORATIONS LAW

CHAPTER 6D - FUNDRAISING

PART 6D.3 - PROHIBITIONS, LIABILITIES AND REMEDIES

Division 1 - Prohibitions and liabilities

SECTION 726   OFFERING SECURITIES IN A BODY THAT DOES NOT EXIST  

726     A person must not offer securities of:

(a)  a body that has not been formed or does not exist; or

(b)  a managed investment scheme that needs to be, or will need to be, registered and that has not been registered;

if the offer would need disclosure to investors under Part 6D.2 if the body or scheme did exist or had been registered. This is so even if it is proposed to form, incorporate or register the body or scheme.