Commonwealth Consolidated Acts

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Prospectus content--short form prospectuses

Prospectus may simply refer to material lodged with ASIC

             (1)  Instead of setting out information that is contained in a document that has been lodged with ASIC, a prospectus may simply refer to the document. The reference must:

                     (a)  identify the document or the part of the document that contains the information; and

                     (b)  inform people of their right to obtain a copy of the document (or part) under subsection (5).

             (2)  The reference must also include:

                     (a)  if the information is primarily of interest to professional analysts or advisers or investors with similar specialist information needs:

                              (i)  a description of the contents of the document (or part); and

                             (ii)  a statement to the effect that the information in the document (or part) is primarily of interest to those people; or

                     (b)  in any other case--sufficient information about the contents of the document to allow a person to whom the offer is made to decide whether to obtain a copy of the document (or part).

             (3)  The document (or part) referred to under subsection (1) is taken to be included in the prospectus.

             (4)  A person who wishes to take advantage of subsection (1) may lodge a document with ASIC even if this Act does not require the document to be lodged.

             (5)  If the prospectus is taken to include a document, or part of a document, under subsection (1), the person making the offer must give a copy of the document (or part) free of charge to anyone who asks for it during the application period of the prospectus.

Section does not apply to 2-part simple corporate bonds prospectus

             (6)  This section does not apply to a 2-part simple corporate bonds prospectus.

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