Document ID: chunk:federal_register_of_legislation:C2007A00079:clause:7_4
Version: federal_register_of_legislation:C2007A00079
Segment Type: clause
Provision Reference: sch 7 cl 4
Character Range: 38699–39616

4  After subsection 128F(3)
Insert:

 (3A) An invitation to become a lender under a syndicated loan facility by a company satisfies the public offer test if the invitation was made:
 (a) to at least 10 persons each of whom:
 (i) was carrying on a business of providing finance, or investing or dealing in securities, in the course of operating in financial markets; and
 (ii) was not known, or suspected, by the company to be an associate (see subsection (9)) of any of the other persons covered by this paragraph; or
 (b) publicly in electronic form, or in another form, that was used by financial markets for dealing in debentures or debt interests; or
 (c) to a dealer, manager or underwriter, in relation to the placement of debentures or debt interests, who, under an agreement with the company, made the invitation to become a lender under the facility within 30 days in a way covered by paragraph (a) or (b).