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CORPORATIONS ACT 2001 - SECT 705

Types of disclosure document

                   The following table shows what disclosure documents to use if an offer of securities needs disclosure to investors under this Part.

 

 

Disclosure document

 

 

Type

Sections

1

prospectus

The standard full-disclosure document.

 

content [710, 711, 713]

procedure [717]

liability [728 and 729]

defences [731, 733]

2

short form prospectus

May be used for any offer.

Section 712 allows a prospectus to refer to material lodged with the Registrar instead of setting it out. Investors are entitled to a copy of this material if they ask for it.

 

content [712]

2A

2-part simple corporate bonds prospectus

Must be used for any offer of simple corporate bonds.

 

 

content [713C, 713D, 713E]

procedure [717]

liability [728 and 729]

defences [731 and 733]

3

profile statement

Section 721 allows a brief profile statement (rather than the prospectus) to be sent out with offers with ASIC approval. The prospectus must still be prepared and lodged with the Registrar. Investors are entitled to a copy of the prospectus if they ask for it.

 

content [714]

procedure [717]

liability [728 and 729]

defences [732, 733]

4

offer information statement

Section 709 allows an offer information statement to be used instead of a prospectus for an offer to issue securities if the amount raised from issues of securities is $10 million or less.

 

content [715]

procedure [717]

liability [728 and 729]

defences [732, 733]

Note:          Subsection 709(1A) provides that if the offer period for an offer of simple corporate bonds begins during the 2-year period beginning at the commencement of that subsection, a prospectus (other than a 2-part simple corporate bonds prospectus) may be prepared.



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