Document ID: chunk:federal_register_of_legislation:F2022C01165:body:0:p2
Version: federal_register_of_legislation:F2022C01165
Segment Type: other
Provision Reference: 
Character Range: 2796–5582

jurisdiction.
authorised representative has the meaning given by section 761A of the Act.
bid class means the class of securities to which offers of securities under a foreign scrip bid relates.
eligible foreign country means a country in which an approved foreign market is being operated.
           Note: The definition of approved foreign market is notionally inserted by ASIC Corporations (Definition of Approved Foreign Market) Instrument 2017/669.
foreign scrip bid means an offer for securities in the bid class that may result in:
           (a) the acquisition of control or potential control of, or the acquisition of a substantial interest in:
               (i) an issuer of securities; or
               (ii) a managed investment scheme;
where the offer:
           (b) is regulated by or under a law or other rules however described that:
              (i) apply to the acquisition of:
                  (A) control or potential control of an entity; or
                  (B) a substantial interest in an entity; and
              (ii) are in force or apply in or in a part of an eligible foreign country; and
           (c) involves offers being made to acquire all or some of the securities in the bid class held by:
              (i) all holders of securities in the bid class; or
              (ii) all such holders other than the person making the offers, that person and their associates or any other person to whom, under the regulatory requirements applicable to the bid, the offers do not have to be made,
           where scrip forms all or part of the consideration offered for the securities in the bid class.
register of members means, in relation to an entity, the register of members (however described) of the entity required to be kept under the laws of its place of origin.
relevant regulatory requirements means the laws or rules referred to in paragraph (b) of the definition of foreign scrip bid.
securities in the bid class means the securities or interests in a managed investment scheme (as applicable) forming all or a part of the class or classes of securities or interests being bid for.

Part 2—Exemption

5 Disclosure relief for foreign scrip bids

Securities
(1) A person does not have to comply with Part 6D.2 or 6D.3 of the Act where the person offers securities (the scrip) for issue or sale as consideration under a foreign scrip bid that the person reasonably believes is made in accordance with the relevant regulatory requirements.
(2) A person that makes a sale offer of the scrip within 12 months after the issue of the scrip does not have to comply with Part 6D.2 or 6D.3 of the Act in relation to the sale offer where the scrip was issued or transferred as consideration under a foreign scrip bid.

Interests in managed investment