Document ID: chunk:federal_register_of_legislation:C2004A04707:front:0:p30
Version: federal_register_of_legislation:C2004A04707
Segment Type: other
Provision Reference: 
Character Range: 76460–79476

property proposed to be acquired by the corporation in connection with its formation or promotion; or".

33. Paragraph 1021(6)(b):

  Insert "or consisted" after "consists".

34. Subsection 1021(6A):

  Omit the subsection.

35. Paragraphs 1021(8)(d) and (e):

  Omit the paragraphs.

36. Subsection 1021(13):

Omit "If the prospectus is a primary prospectus, it", substitute "The prospectus".

37. Subsection 1021(13A):

  Omit the subsection.

38. Subsection 1022(2):

  Omit the subsection, substitute:

"(2) The information to be included because of this section is such of the information mentioned in subsection (1):

     (a) as is known to any person referred to in any of paragraphs 1006(2)(b) to (h) (inclusive) or any person who authorised or caused the issue of the prospectus; or

     (b) as it would be reasonable for such a person to obtain by making inquiries.".

39. Paragraph 1022(3)(b):

  Omit "or buying".

40. Section 1022A:

  Omit ", or buyer of," (wherever occurring).

41. Section 1024:

  Repeal the section, substitute:

Obligation to notify corporation of false or misleading statements, changes etc.

  "1023A.(1) If:

SCHEDULE 2—continued

     (a) a prospectus relating to securities of a corporation has been lodged; and

  (b) a person (other than the corporation) who:

      (i) is referred to in subsection 1006(2); or

      (ii) authorised or caused the issue of the prospectus;

     becomes aware of a matter referred to in subsection (2) of this section during the application period in relation to the prospectus;

the person must, as soon as practicable after becoming so aware, give the corporation written notice of the matter.

  "(2) These are the matters:

     (a) there is a material statement in the prospectus that is false or misleading;

  (b) there is a material omission from the prospectus;

     (c) there has been a significant change affecting a matter included in the prospectus;

     (d) a significant new matter has arisen the inclusion in the prospectus of information about which would have been required by this Part if the matter had arisen when the prospectus was prepared.

Correction of false or misleading statements etc. in prospectus by a supplementary or replacement prospectus

"1023B.(1) This section applies if a prospectus relating to securities of a corporation has been lodged and the corporation becomes aware, during the application period in relation to the prospectus, that the prospectus is deficient because:

  (a) it contains a material statement that is false or misleading; or

  (b) there is a material omission from the prospectus.

   Note: Because of subsections 1024C(2), 1024F(1) and 1024G(3), a prospectus may be taken to include information in another document. This should be taken into account when considering whether the prospectus is deficient.

"(2) As soon as practicable after becoming so aware, the corporation must lodge a supplementary prospectus or a replacement prospectus that corrects the deficiency