Commonwealth Consolidated Legislation

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CORPORATIONS LAW
- 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 ASIC instead of setting it out. Investors are entitled to a copy of this material if they ask for it.



content [712]


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 ASIC. 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 $5 million or less.



content [715]
procedure [717]
liability [728 and 729]
defences [732, 733]




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Commonwealth legislation in official written form can be obtained from AGPS