Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:1_711:p1
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 1 cl 711 (pt 1/2)
Character Range: 409509–412129

711  Prospectus content—specific disclosures

Terms and conditions of offer

 (1) The prospectus must set out the terms and conditions of the offer.

Disclosure of interests and fees of certain people involved in the offer

 (2) The prospectus must set out the nature and extent of the interests (if any) that each person referred to in subsection (4) holds, or held at any time during the last 2 years, in:
 (a) the formation or promotion of the body; or
 (b) property acquired or proposed to be acquired by the body in connection with:
 (i) its formation or promotion; or
 (ii) the offer of the securities; or
 (c) the offer of the securities.

 (3) The prospectus must set out the amount that anyone has paid or agreed to pay, or the nature and value of any benefit anyone has given or agreed to give:
 (a) to a director, or proposed director, to induce them to become, or to qualify as, a director of the body; and
 (b) for services provided by a person referred to in subsection (4) in connection with:
 (i) the formation or promotion of the body; or
 (ii) the offer of the securities; and
 (c) if the prospectus is for interests in a managed investment scheme—to the responsible entity:
 (i) to procure acquisitions of interests in the scheme; or
 (ii) for services provided under the constitution of the scheme.
To comply with this subsection it is not sufficient merely to state in the prospectus that a person has been paid or will be paid normal, usual or standard fees.

 (4) Disclosures need to be made under subsections (2) and (3) in relation to:
 (a) any directors and proposed directors of the body
 (b) a person named in the prospectus as performing a function in a professional, advisory or other capacity in connection with the preparation or distribution of the prospectus
 (c) if the securities are interests in a managed investment scheme—the person making the interests available and, if the person is a body, its directors
 (d) a promoter of the body
 (e) a stockbroker or underwriter (but not a sub‑underwriter) to the issue or sale.

Quotation of securities

 (5) If the prospectus for an offer of securities states or implies that the securities are to be quoted on a stock market of a securities exchange (whether in Australia or elsewhere), the prospectus must state that:
 (a) the securities have been admitted to quotation on that stock market; or
 (b) an application for admission of the securities to quotation on that stock market has been made to that securities exchange; or
 (c) an application for admission of the securities to quotation on that stock market will be made to that