CORPORATIONS ACT 2001
Ch 7 inserted by No 122 of 2001, s 3, Sch 1, Pt 1 (effective 11 March 2002).
As Act No 122 of 2001 repealed Ch 7 and 8 the history notes for Ch 7 use "inserted" and references to the former provisions have been removed.
|PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE, SALE AND PURCHASE OF FINANCIAL PRODUCTS
|| View history reference
Pt 7.9 heading amended by No 141 of 2003, s 3, Sch 1 (effective 14 January 2004).
Div 5A inserted by No 141 of 2003, s 3, Sch 1 (effective 14 January 2004).
This Division applies to an offer in relation to which the following paragraphs are satisfied:
(a) the offer is an unsolicited offer to purchase a financial product made by a person (the offeror) to another person (the offeree);
(b) the offer is made otherwise than on a licensed market;
(c) one or more of the following apply:
(i) the offer is made in the course of a business of purchasing financial products;
(ii) the offeror was not in a personal or business relationship with the offeree before the making of the offer;
(iii) the offer is made in circumstances specified in regulations made for the purposes of this subparagraph;
(d) the offer is not:
(i) made to the issuer of the financial products; or
(ii) to buy back shares under a buy-back authorised by section 257A; or
(iii) made under a compromise or arrangement approved at a meeting held as a result of an order under subsection 411(1) or (1A); or
(iv) to acquire securities under an off-market bid; or
(v) to compulsorily acquire or buy out securities under Chapter 6A; or
(vi) to acquire shares from a dissenting shareholder under section 414; or
(vii) made in relation to particular financial products that are specified in regulations made for the purposes of this subparagraph; or
(viii) made in circumstances that are specified in regulations made for the purposes of this subparagraph;
(e) the offer is made or received in this jurisdiction.
The regulations may clarify:
(a) when an offer is, or is not, made in the course of a business of purchasing financial products; or
(b) when an offeror was, or was not, in a previous personal or business relationship with an offeree.
Regulations made for the purposes of this subsection have effect despite anything else in this section.
S 1019D inserted by No 141 of 2003, s 3, Sch 1 (effective 14 January 2004).