Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:1_734:p1
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 1 cl 734 (pt 1/3)
Character Range: 458308–461108

734  Restrictions on advertising and publicity

No advertising or publicity for offers covered by the exception for 20 issues in 12 months

 (1) A person must not:
 (a) advertise; or
 (b) publish a statement that directly or indirectly refers to;
an offer, or intended offer, of securities that would need a disclosure document but for subsection 708(1) (exception for 20 issues in 12 months).

Advertising or publicity for offers that need a disclosure document

 (2) If an offer, or intended offer, of securities needs a disclosure document, a person must not:
 (a) advertise the offer or intended offer; or
 (b) publish a statement that:
 (i) directly or indirectly refers to the offer or intended offer; or
 (ii) is reasonably likely to induce people to apply for the securities;
unless the advertisement or publication is authorised by subsection (4), (5), (6) or (7).

Image advertising

 (3) In deciding whether a statement:
 (a) indirectly refers to an offer, or intended offer, of securities; or
 (b) is reasonably likely to induce people to apply for securities;
have regard to whether the statement:
 (c) forms part of the normal advertising of a body's products or services and is genuinely directed at maintaining its existing customers, or attracting new customers, for those products or services; and
 (d) communicates information that materially deals with the affairs of the body; and
 (e) is likely to encourage investment decisions being made on the basis of the statement rather than on the basis of information contained in a disclosure document.

Dissemination of disclosure document

 (4) A person may disseminate a disclosure document that has been lodged with ASIC without contravening subsection (2). This does not apply if an order under section 739 is in force in relation to the offer.

Advertising and publicity before the disclosure document is lodged

 (5) Before the disclosure document is lodged, an advertisement or publication does not contravene subsection (2) if it:
 (a) if the offer is of securities in a class already quoted—includes a statement that:
 (i) a disclosure document for the offer will be made available when the securities are offered; and
 (ii) anyone who wishes to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document; and
 (b) in any other case—contains the following but nothing more:
 (i) a statement that identifies the offeror and the securities
 (ii) a statement that a disclosure document for the offer will be made available when the securities are offered
 (iii) a statement that anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document
 (iv) a statement of how to arrange