Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 2   ALRC Financial Services Interim Report: single glossary of defined terms

Part 1   Amendments

Division 2   Terms in general use

Corporations Act 2001

30   Section 9

Insert:

number of shares , in relation to a body corporate, has a meaning affected by section 101.

offer :

(a) offer a security (other than a financial product) includes:

(i) invite applications for the issue of the security; and

(ii) invite offers to purchase the security; and

(b) offer to issue or sell a financial product, for the purposes of Part 7.8A (design and distribution requirements) and Part 7.9 (financial product disclosure), has a meaning affected by subsection 1010C(2); and

(c) the person who offers a security:

(i) (unless subparagraph (ii) applies) is the person who has the capacity, or who agrees, to issue or transfer the security if the offer is accepted; or

(ii) for the purposes of Chapter 8 (mutual recognition of securities offers), if the offer is an offer of a kind prescribed by the regulations for the purposes of this subparagraph - is a person of a kind prescribed by the regulations for the purposes of this subparagraph;

and that person is the offeror of the security.

Note: Section 1010C applies for the purposes of Part 7.8A: see subsection 994A(3).

officer has the meaning given by section 9AD.