Document ID: chunk:federal_register_of_legislation:F2016L00343:body:0:p1
Version: federal_register_of_legislation:F2016L00343
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ASIC Corporations (Debenture Prospectuses) Instrument 2016/75
I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date  9 March 2016

Grant Moodie

Contents

Part 1—Preliminary
1 Name of legislative instrument
2 Commencement
3 Authority
4 Definitions
Part 2—Declaration
5 Debenture prospectuses—interest rate and term information

Part 1—Preliminary

1 Name of legislative instrument
This instrument is ASIC Corporations (Debenture Prospectuses) Instrument 2016/75.

2 Commencement
This instrument commences on the day after it is registered on the Federal Register of Legislation.
Note: The register may be accessed at www.legislation.gov.au.

3 Authority
This instrument is made under section 741 of the Corporations Act 2001.

4 Definitions
In this instrument:
Act means the Corporations Act 2001.

Part 2—Declaration

5 Debenture prospectuses—interest rate and term information

    Chapter 6D of the Act applies to all persons as if the Chapter were modified or varied as follows:

       (a) after subsection 712(6) insert:

       "Prospectus for an offer of debentures may simply refer to an application form lodged with ASIC
           (7) Subsections (8), (9) and (10) apply to an offer of a body's debentures for issue in the ordinary course of its business where a prospectus for the offer is lodged with ASIC.

           (8) Instead of setting out information about the interest rate and term relevant to the offer, the prospectus may simply refer to an application form which is used for the offer containing that information and which has been lodged with ASIC under this subsection from time to time. The reference must:

              (a) state that the interest rate and the term of the debentures offered is subject to change from time to time;

              (b) state that:

                  (i) information about the current interest rate and term for the debentures offered will be set out in the application form most recently lodged with ASIC; and

                  (ii) a copy of that application form will be given by the body to any person who asks for it during the application period of the prospectus; and

               (c) explain that a person that applies for the debentures may have rights to be repaid application monies if the application is made on an application form that is not the application form most recently lodged with ASIC.

           (9) The application form referred to under subsection (8) is taken to be included in the prospectus.

           (10) If the prospectus is taken to include an application form under subsection (8), the body making the offer must give a copy of the application form free of charge to any person who asks for it during the application period of the prospectus.";

       (b) after section 712 insert:

            "712A Prospectus content for debentures—interest rate and term information otherwise available
                (1) This section applies to