THE CORPORATIONS LAW

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:...

SECTION 736 SECURITIES HAWKING PROHIBITED

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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).

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.