When the dispute resolution condition applies
(1) The dispute resolution condition in this section applies, to a person who is or who has been the offeror of a recognised offer, at all times when the person's records indicate that someone who resides in this jurisdiction holds securities in the class of securities that was the subject of the recognised offer.
Note: Failure to comply with the dispute resolution condition is an offence (see sections 1200Q and 1311).
Dispute resolution condition
(2) The person must have a dispute resolution process that complies with subsection 1017G(2), if the recognised offer was an offer of:
(a) interests in a managed investment scheme; or
(b) rights or interests in such interests, or options to acquire such interests by way of issue.
Exemption from the dispute resolution condition
(3) ASIC may, on application by a person in the prescribed form (if any), grant the person an exemption from the dispute resolution condition in this section, subject to any conditions specified in the exemption.
(4) If ASIC grants a person an exemption under subsection (3), then, for the purposes of this Chapter, the person is taken to comply with the dispute resolution condition in this section for so long as the exemption is in force.
(5) ASIC may, in relation to an exemption under subsection (3):
(a) vary, or impose, a condition in relation to the exemption; or
(b) revoke the exemption.
(6) A variation, imposition or revocation under subsection (5) takes effect:
(a) if the person has an address for service in this jurisdiction--when it is served on the person at that address; or
(b) if the person does not have an address for service in this jurisdiction--on publication in the Gazette .