Commonwealth Consolidated Acts

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When an offer is a recognised offer

             (1)  An offer of securities becomes a recognised offer , in relation to a recognised jurisdiction, on the day the offer is first made in this jurisdiction, if the conditions in section 1200C are met in relation to the offer on that day.

             (2)  The offer continues to be a recognised offer after that day, even if a condition in section 1200C ceases to be met after that day.

             (3)  If, at the time an offer is first made in this jurisdiction, the offer would be a recognised offer but for a failure to meet the condition in subsection 1200C(5) or (6) that ASIC is satisfied is minor or technical, ASIC may declare in writing that the offer is a recognised offer within the meaning of subsection (1).

             (4)  If ASIC makes a declaration under subsection (3) in relation to an offer, the condition is taken to have been met at the time the offer was first made in this jurisdiction.

             (5)  A declaration under subsection (3) is not a legislative instrument.

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