An offer information
statement for the issue of a body's securities must:
(a)
identify
the body and the nature of the securities;
and
(b)
describe the body's
business; and
(c)
describe what the funds
raised by the offers are to be used for;
and
(d)
state the nature of the
risks involved in investing in the securities;
and
(e)
give details of all
amounts payable in respect of the securities (including any amounts by way of
fee, commission or charge);
and
(f)
state that:
(i)
a copy of
the statement has been lodged with ASIC;
and
(ii)
ASIC takes no
responsibility for the content of the statement; and
(g)
state that the statement
is not a prospectus and that it has a lower level of disclosure requirements
than a prospectus; and
(h)
state that investors
should obtain professional investment advice before accepting the offer;
and
(i)
include a copy of a
financial report for the body;
and
(j)
include any other
information that the regulations require to be included in the statement.
(2)
The financial report
included under paragraph (1)(i) must:
(a)
be a report
for a 12 month period and have a balance date that occurs within the last 6
months before the securities are first offered under the
statement; and
(b)
be prepared in accordance
with the accounting standards;
and
(c)
be audited.
(3)
The statement must state
that no securities will be issued on the basis of the statement after the
expiry date specified in the statement. The expiry date must not be later than
13 months after the date of the statement. The expiry date of a replacement
statement must be the same as that of the original statement it replaces.
Note 1:
Subsection 716(1) requires the statement to be
dated.
Note 2: Section 719 deals with replacement statements.
Commonwealth Consolidated Legislation