Corporations Legislation Amendment (Simpler Regulatory System) Act 2007 (101 of 2007)

Schedule 1   Amendments

Part 1   Amendments commencing on Royal Assent

Corporations Act 2001

79   After subsection 708A(1)

Insert:

(1A) This section also applies to an offer (the sale offer ) of a body's securities (the relevant securities ) for sale by a person if:

(a) but for subsection (5), disclosure to investors under this Part would be required by subsection 707(5) for the sale offer; and

(b) the securities were not sold by the controller with the purpose referred to in subparagraph 707(5)(c)(i); and

(c) a determination under subsection (2) was not in force in relation to the body at the time when the relevant securities were issued.

Note: The heading to subsection 708A(1) is altered by omitting "offer" and substituting "offers".