Document ID: chunk:federal_register_of_legislation:F2019C00686:body:0:p3
Version: federal_register_of_legislation:F2019C00686
Segment Type: other
Provision Reference: 
Character Range: 5578–8421

without a Product Disclosure Statement for the interest being prepared because of:

           (a) subsections 708(18) or 1012D(7) of the Act; or

           (b) ASIC Class Order [CO 09/68] (as in force as at the day immediately before the day the class order was repealed).

       Category 7: Securities of exempt public authorities

       The securities were issued without disclosure to investors under Part 6D.2 of the Act because of subsection 708(21) of the Act.

6 Stapled securities

       (1) Chapter 6D of the Act applies to all persons as if section 708A were modified or varied by, after subsection (12), inserting:

           "(13) In this section, if under the terms on which a security (the component security) is traded on a prescribed financial market it can only be transferred together with one or more other securities or other financial products (together the stapled security) then:

              (a) the component security is taken to be in a class of quoted securities that is different from any other class of quoted securities it is in, or is taken to be in, when at any other time it is able to be transferred on that market by itself or as part of a different stapled security; and

              (b) trading in the class of quoted securities that the component security 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.".

       (2) Part 7.9 of the Act applies in relation to all persons as if section 1012DA were modified or varied by, after subsection (12), inserting:

           "(13) In this section, if under the terms on which a financial product (the component product) is traded on a prescribed financial market it can only be transferred together with one or more securities or other financial products (together the stapled security) then:

              (a) the component product is taken to be in a class of quoted securities that is different from any other class of quoted securities it is in, or is taken to be in, when at any other time it is able to be transferred on the market by itself or as part of a different stapled security; and

              (b) trading in 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.".

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration     Date of commencement  Application, saving or transitional provisions
2016/80            16/3/2016 (see F2016L00325)  17/3/2016
2018/697           13/9/2018 (see F2018L01281)  18/9/2018             -
2019/548           28/8/2019 (see F2019L01115)  29/8/2019

Endnote 2—Amendment history
ad. = added or inserted     am. = amended     LA = Legislation Act 2003