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.3 - PROHIBITIONS, LIABILITIES AND REMEDIES

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History

Part 6D.3 inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

Division 1 - Prohibitions and liabilities

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).

Note:

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.

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History

S 736 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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