Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 (103 of 2004)

Schedule 7   Disclosure rules

Part 1   Presentation of disclosure documents

Corporations Act 2001

3   Subsection 739(1)

Repeal the subsection, substitute:

(1) If ASIC is satisfied that:

(a) information in a disclosure document lodged with ASIC is not worded and presented in a clear, concise and effective manner (see section 715A); or

(b) an offer of securities under a disclosure document lodged with ASIC would contravene section 728;

ASIC may order that no offers, issues, sales or transfers of the securities be made while the order is in force.