Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 78

78. (1) A reference to an invitation to do any act or thing includes a
reference to an invitation to make an offer to do that act or thing.

(2) An invitation to deposit money with, or lend money to, a body corporate
constitutes an invitation to subscribe for or buy debentures of the body.

(3) An offer to accept money that is deposited with, or lent to, a body
corporate constitutes an offer of debentures of the body for subscription or
purchase.

(4) An acceptance by a body corporate of money deposited with, or lent to, the
body constitutes the issue by the body of debentures of the body.

(5) A form to accompany a deposit of money with, or a loan of money to, a body
corporate, or a body corporate that is proposed to be formed, constitutes a
form of application for the issue of securities of the body or proposed body.