(1) If a person offers securities under a disclosure document and:

(a)

the disclosure document states that the securities will not be issued or transferred unless:

(i)

applications for a minimum number of the securities are received; or

(ii)

a minimum amount raised;

and that condition is not satisfied within 4 months after the date of the disclosure document; or

(b)

the disclosure document states or implies that the securities are to be quoted on a stock market of a securities exchange (whether in Australia or elsewhere) and:

(i)

an application for the admission to quotation is not made within 7 days after the date of the disclosure document; or

(ii)

the securities are not admitted to quotation within 3 months after the date of the disclosure document; or

(c)

the person becomes aware that:

(i)

the disclosure document contains a misleading or deceptive statement; or

(ii)

there is an omission from the disclosure document of information required by section 710, 711, 712, 713, 714 or 715;

that is materially adverse from the point of view of an investor; or

(d)

the person becomes aware of a new circumstance that:

(i)

has arisen since the disclosure document was lodged; and

(ii)

would have been required by section 710, 711, 712, 713, 714 or 715 to be included in the disclosure document if it had arisen before the disclosure document was lodged; and

(iii)

is materially adverse from the point of view of an investor;