Financial Services Reform Act 2001 (122 of 2001)

Schedule 1   Financial Services and Markets

Part 2   Consequential amendments

Corporations Act 2001

425   Subsection 711(5)

Repeal the subsection, substitute:

Quotation of securities

(5) If the prospectus for an offer of securities states or implies that the securities will be able to be traded on a financial market (whether in Australia or elsewhere), the prospectus must state that:

(a) the securities have been admitted to quotation on that financial market; or

(b) an application for admission of the securities to quotation on that financial market has been made to the operator of that market; or

(c) an application for admission of the securities to quotation on that financial market will be made to the operator of that market within 7 days after the date of the prospectus.

Note 1: Paragraph 724(1)(b) gives times within which the person should seek and obtain admission to quotation.

Note 2: Subsection 716(1) requires the prospectus to be dated.