Document ID: chunk:federal_register_of_legislation:F2017C00893:body:0:p2
Version: federal_register_of_legislation:F2017C00893
Segment Type: other
Provision Reference: 
Character Range: 2815–5465

offer.
offer class means the class of securities to which offers of securities under a pro-rata offer relates.
primary foreign jurisdiction means:
           (a) the place of the approved foreign market on which the securities in the offer class are quoted; or
           (b) if securities in the offer class are quoted on more than one approved foreign market—the place of the approved foreign market where it is reasonably expected that the largest numbers of offers will be received under the pro-rata offer.
pro-rata offer means an offer of securities that is made to every person who holds securities in a particular class to issue them, or their assignee, with the percentage of the securities to be issued that is the same as the percentage of the securities in the class that they hold before the offer but disregarding:
           (a) the rounding up or down of the number of securities offered to that holder to a whole number; and
           (b) the fact that the offer is not made to holders in relation to whom, under the foreign regulatory requirements, offers do not have to be made.
shortfall offer, in relation to a pro-rata offer, means an offer of securities in the same class as the offer class where:
           (a) the offer is made to persons to whom offers were made under the pro-rata offer; and
           (b) the offer is made no later than 2 months after the first offer is made under the pro-rata offer; and
           (c) either:
              (i) the securities had first been offered to, but not accepted by, a person under the pro-rata offer; or
              (ii) the offer is made on the condition that the securities to which the offer relates may only be issued to the person where an offer of securities has first been made to, but not accepted by, another person under the pro-rata offer.

Part 2—Exemption

5 Disclosure relief for rights issues of foreign securities
(1) A foreign company that makes a pro-rata offer or shortfall offer of securities that the company reasonably believes is made in accordance with foreign regulatory requirements does not have to comply with Part 6D.2 or 6D.3 of the Act in relation to the pro-rata offer or shortfall offer.
(2) A person that makes a sale offer of securities within 12 months after the issue of the securities under a pro-rata offer or shortfall offer does not have to comply with Part 6D.2 or 6D.3 of the Act in relation to the sale offer.
(3) The exemptions in subsections (1) and (2) apply where all of the following are satisfied in relation to the pro-rata offer or shortfall offer:
           (a) the terms of each offer made to an Australian offeree are