Document ID: chunk:federal_register_of_legislation:F2016L00328:body:0:p3
Version: federal_register_of_legislation:F2016L00328
Segment Type: other
Provision Reference: 
Character Range: 5663–8885

person must deal with any applications for the securities made under the disclosure document that have not resulted in an issue or transfer of the securities by:
                (c) as soon as practicable after the end of the quotation application period, repaying the money received by the person from the applicants; or
                (d) following the procedure in subsection (3G).
            (3F) An offence based on subsection (3E) is an offence of strict liability.
                Note:  For strict liability, see section 6.1 of the Criminal Code.
            Refresh document
            (3G) A person may before the end of the relevant period:
                (a) lodge a refresh document with ASIC; and
                (b) give applicants:
                   (i) the refresh document; and
                   (ii) 1 month to withdraw their application and be repaid;
            and, if lodged and given in accordance with this subsection, then:
                (c) for the purposes of subsection 723(2):
                   (i) the minimum subscription condition in relation to the disclosure document being supplemented or replaced by the refresh document is taken not to apply to any applications (whether made under the disclosure document being supplemented or replaced or the refresh document); and
                   (ii) the minimum subscription condition (if any) in relation to the refresh document is taken to apply to all applications (whether made under the disclosure document being supplemented or replaced or the refresh document); and
                (d) for the purposes of subsection 723(3):
                   (i) the quotation condition in relation to the disclosure document being supplemented or replaced by the refresh document is taken not to apply to any applications (whether made under the disclosure document being supplemented or replaced or the refresh document); and
                   (ii) the quotation condition (if any) in relation to the refresh document is taken to apply to all applications (whether made under the disclosure document being supplemented or replaced or the refresh document).
            (3H) In this section:
            minimum subscription condition means a condition that securities will not be issued unless applications for a minimum number of securities are received or a minimum amount is raised.
            quotation condition means a condition imposed by this Part that arises because the disclosure document states or implies that the securities are to be quoted on a financial market (whether in Australia or elsewhere).
            refresh document means a supplementary or replacement document that sets out the following information and statements:
                (a) in relation to a disclosure document for an offer of securities subject to a minimum subscription condition:
                   (i) the number of securities for which applications have been received or the amount raised as at the date of the refresh document;
                   (ii) details of any changes to the minimum subscription condition (including whether the terms of the offer are no longer subject to the condition); and
                   (iii) if the terms of