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:...

CHAPTER 6D - FUNDRAISING

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History

Chapter 6D inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

PART 6D.1 - APPLICATION OF THE FUNDRAISING PROVISIONS

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History

Part 6D.1 inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

SECTION 702   TREATMENT OF OFFERS OF OPTIONS OVER SECURITIES  

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702     For the purposes of this Chapter:

(a)  an offer of an option over securities is not to be 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)).

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History

S 702 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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