Document ID: chunk:federal_register_of_legislation:C2004A04707:front:0:p21
Version: federal_register_of_legislation:C2004A04707
Segment Type: other
Provision Reference: 
Character Range: 52353–55250

connection with, the exchange making such a decision.

"(9) An officer of a securities exchange has qualified privilege in respect of an act:

    (a) that is done in the course of performing functions or exercising powers as an officer of the exchange; and

    (b) in respect of which the exchange would have qualified privilege under subsection (5), (7) or (8) if it had done the act.

  "(10) Nothing in this section limits the generality of anything else in it.".

92. After section 1001:

  Insert in Division 2 of Part 7.11:

Continuous disclosure—listed disclosing entities

"1001 A.(1) This section applies to a listed disclosing entity if provisions of the listing rules of a securities exchange:

  (a) apply to the entity; and

    (b) require the entity to notify the securities exchange of information about specified events or matters a's they arise for the purpose of the securities exchange making that information available to a stock market conducted by the securities exchange.

"(2) The disclosing entity must not contravene those provisions by intentionally, recklessly or negligently failing to notify the securities exchange of information:

  (a) that is not generally available; and

SCHEDULE 1—continued

     (b) that a reasonable person would expect, if it were generally available, to have a material effect on the price or value of ED securities of the entity.

"(3) A contravention of subsection (2) is only an offence if the failure concerned is intentional or reckless.

"(4) For the purposes of the application of this section to a listed disclosing entity that is an undertaking to which prescribed interests relate, the obligation of the entity not to contravene provisions as mentioned in subsection (2) is an obligation of the management company.

Continuous disclosure—unlisted disclosing entities

  "1001B.(1) If:

  (a) an unlisted disclosing entity becomes aware of information:

      (i) that is not generally available; and

        (ii) that a reasonable person would expect, if it were generally available, to have a material effect on the price or value of ED securities of the entity; and

     (b) the information is not required to be included in a supplementary prospectus or a replacement prospectus in relation to the entity;

the entity must, as soon as practicable, lodge a document containing the information.

"(2) An unlisted disclosing entity does not contravene subsection (1) except by an intentional, reckless or negligent act or omission.

"(3) A contravention of subsection (1) is only an offence if the failure concerned is intentional or reckless.

"(4) For the purposes of the application of this section to an unlisted disclosing entity that is an undertaking to which prescribed interests relate:

     (a) the entity is aware of information if, and only if, the management company is aware of the information; and

     (b)