Corporations Act 2001

CHAPTER 6D - FUNDRAISING  

PART 6D.1 - APPLICATION OF THE FUNDRAISING PROVISIONS  

SECTION 700   COVERAGE OF THE FUNDRAISING RULES  

700(1)    

In this Chapter, securities has the same meaning as it has in Chapter 7 , but does not include:

(a)    

a security as defined in paragraph 92(5)(e) or (f) ; or

(b)    a simple corporate bonds depository interest in simple corporate bonds, where the simple corporate bonds were issued under a 2-part simple corporate bonds prospectus.

Note: In this Chapter, subject to subsection 1240H(6) , securities also does not include a security in a CCIV: see section 1240G .

700(2)    
(Repealed by No 76 of 2023, s 3, Sch 2[80] (effective 20 October 2023).)

700(3)    
(Repealed by No 76 of 2023, s 3, Sch 2[80] (effective 20 October 2023).)

Geographical coverage of Chapter

700(4)    
This Chapter applies to offers of securities that are received in this jurisdiction, regardless of where any resulting issue, sale or transfer occurs.

SECTION 701  

701   TREATMENT OF OFFERS OF INTERESTS IN MANAGED INVESTMENT SCHEME  
(Repealed by No 122 of 2001, s 3, Sch 1, Pt 2 [ 410] (effective 11 March 2002).)

SECTION 702  

702   TREATMENT OF OFFERS OF OPTIONS OVER SECURITIES  
For the purposes of this Chapter:

(a) an offer of an option over securities is not taken to be an offer of the underlying securities; and

(b) the grant of an option without an offer of the option is taken to be an offer of the option; and

(c) an offer to grant an option is taken to be an offer to issue the security constituted by the option.

Note 1: If a disclosure document is needed for the option and there is no further offer involved in exercising the option, the issue or sale of the underlying securities on the exercise of the option does not need a disclosure document.

Note 2: Paragraph (b) - the grant of the option will not require a disclosure document if no consideration is payable on the grant or the exercise of the option (see subsections 708(15) and (16)).

SECTION 703  

703   CHAPTER MAY NOT BE CONTRACTED OUT OF  
A condition of a contract for the sale or issue of securities is void if it provides that a party to the contract is:

(a) required or bound to waive compliance with any requirement of this Chapter; or

(b) taken to have notice of any contract, document or matter not specifically referred to in the disclosure document for the offer.

SECTION 703A  

703A   OPERATING A CLEARING AND SETTLEMENT FACILITY IS NOT OFFERING SECURITIES ETC.  

Nothing that the operator of a clearing and settlement facility does in the course of, or in connection with, providing facilities for the settlement of transactions constitutes, for the purposes of this Chapter:

(a)    an offer of securities for subscription or purchase; or

(b)    an invitation to subscribe for or buy securities.