Document ID: chunk:federal_register_of_legislation:C2004A04707:front:0:p32
Version: federal_register_of_legislation:C2004A04707
Segment Type: other
Provision Reference: 
Character Range: 81954–84911

1006 to 1012, inclusive;

  (c) subsections 1021(2), (3), (4), (10), (13) and (14);

  (d) sections 1023A, 1024F, 1029, 1031, 1032 and 1033.

SCHEDULE 2—continued

  "(5) In this section:

'deficiency', in relation to a prospectus, includes, but is not limited to:

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

  (b) a material omission from the prospectus.

General provisions about replacement prospectuses

"1024B.(1) A replacement prospectus is a document the purpose of which is to replace a prospectus (the 'original prospectus') and which may also do either or both of the following:

  (a) correct a deficiency in the original prospectus;

     (b) provide particulars about something that has occurred since the original prospectus was prepared.

    Note 1: 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 contains a deficiency.

    Note 2: The power to issue a replacement prospectus is not limited to the situations dealt with in sections 1023B and 1024.

"(2) On each page of a replacement prospectus there must be a clear statement in bold type that identifies the original prospectus and states that the document is a replacement prospectus that replaces the original prospectus.

"(3) Subject to subsection (2), a replacement prospectus must have the same wording as the original prospectus, except to the extent that it:

  (a) corrects a deficiency in the original prospectus; or

     (b) provides particulars about something that has occurred since the original prospectus was issued.

  "(4) In this section:

'deficiency', in relation to a prospectus, includes, but is not limited to:

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

  (b) a material omission from the prospectus.

Consequences of lodging a supplementary prospectus

"1024C.(1) This section applies if a supplementary prospectus has been lodged.

"(2) Subject to subsection (4), for the purposes of this Law, the information in the supplementary prospectus is taken, except in relation to things that happened before it was lodged, to be included in the original prospectus.

   Note: So, for example, a supplementary prospectus may be used to provide information that was required by section 1022 or 1022AA to be in the original prospectus.

SCHEDULE 2—continued

"(3) Every copy of the original prospectus issued after lodgment of the supplementary prospectus must be attached to, or accompanied by, a copy of the supplementary prospectus.

"(4) If subsection (3) is contravened in relation to a copy of the original prospectus, subsection (2) does not apply for the purposes of an action under section 1005 in relation to that copy.

  "(5) In this section:

'original prospectus' means the prospectus identified in the supplementary prospectus as