Document ID: chunk:federal_register_of_legislation:F2016L00334:body:0:p9
Version: federal_register_of_legislation:F2016L00334
Segment Type: other
Provision Reference: 
Character Range: 20232–23213

the class of quoted securities that the component product is taken to be in on the market is taken to be suspended when trading in the class of stapled securities on the market is suspended.".

8 Sale offer of quoted securities issued under rights issue
    Chapter 6D of the Act applies to all persons as if section 708A were modified or varied as follows:
       (a) in paragraph (1)(a) omit "(11) or (12),", substitute "(11), (12) or (12A),";
       (b) omit paragraph (1)(b), substitute:
           "(b)  except where the securities were issued under a related issue as defined in paragraph (12B)(c), the securities were not issued by the body with the purpose referred to in subparagraph 707(3)(b)(i); and";
       (c) after subsection (12) insert:

       "Sale offer of quoted securities issued under rights issue–case 4
            (12A) The sale offer does not need disclosure to investors under this Part if:
                (a) the relevant securities were issued under a rights issue or a related issue; and
                (b) the relevant securities are in a class of securities that were quoted securities at all times in the 3 months before the day on which the relevant securities were issued; and
                (c) the rights issue or the related issue did not need disclosure to investors under this Part.
            (12B) For the purposes of subsection (12A), related issue means, in relation to a rights issue:
                (a) an offer relating to the rights issue which satisfies subparagraph 708AA(13)(a)(i) and (iii), whether or not the offer is made to persons to whom offers were made under the rights issue;
                (b) an offer relating to the rights issue made in the circumstance referred to in paragraph 708AA(13)(b);
                (c) an offer relating to the rights issue made:
                   (i)  in accordance with the information given under paragraph 9A(3)(c); or
                   (ii) if the invitation to apply for, or the right to be issued with, the securities is not able to be assigned and the body gives the information specified in subparagraphs 9A(3)(c)(i) to (iii)—in accordance with that information.".

9 Transfer or sale of quoted financial products issued under rights issue
    Part 7.9 of the Act applies in relation to all persons as if section 1012DA were modified or varied as follows:
       (a) in paragraph (1)(a) omit "(11) or (12),", substitute "(11), (12) or (12A),";
       (b) omit paragraph (1)(c), substitute:
           "(c)  except where the relevant product was issued under a related issue as defined in paragraph (12B)(c), the relevant product was not issued by the issuer with the purpose referred to in subparagraph 1012C(6)(c)(i); and";
       (c) after subsection (12) insert:

       "Transfer or sale of quoted securities issued under rights issue–case 4
            (12A) The regulated person does not have to give the client a Product Disclosure Statement if:
                (a)