Document ID: chunk:federal_register_of_legislation:C2025C00185:section:709:p1
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 709 (pt 1/2)
Character Range: 2743849–2746642

709  Prospectuses, short‑form prospectuses, profile statements and offer information statements

Prospectus or short‑form prospectus
 (1) If an offer of securities (other than an offer of simple corporate bonds) needs disclosure to investors under this Part, a prospectus must be prepared for the offer unless subsection (4) allows an offer information statement to be used instead. Under section 712, the prospectus may simply refer to material already lodged with ASIC instead of including it.
Note: See sections 710 to 713 for the contents of a prospectus.
 (1A) If:
 (a) an offer of simple corporate bonds needs disclosure to investors under this Part; and
 (b) the offer period begins during the 2‑year period beginning at the commencement of this subsection;
either of the following must be prepared for the offer:
 (c) a prospectus (other than a 2‑part simple corporate bonds prospectus) unless subsection (4) allows an offer information statement to be used instead;
 (d) a 2‑part simple corporate bonds prospectus.
Note: See sections 713B to 713E for the contents of a 2‑part simple corporate bonds prospectus.
 (1B) If a prospectus is prepared under paragraph (1A)(c), then, under section 712, the prospectus may simply refer to material already lodged with ASIC instead of including it.
 (1C) If:
 (a) an offer of simple corporate bonds needs disclosure to investors under this Part; and
 (b) the offer period begins after the 2‑year period beginning at the commencement of this subsection;
a 2‑part simple corporate bonds prospectus must be prepared for the offer.
Note: See sections 713B to 713E for the contents of a 2‑part simple corporate bonds prospectus.

Profile statement
 (2) A profile statement for an offer may be prepared in addition to the prospectus if ASIC has approved the making of offers of that kind with a profile statement instead of a disclosure document.
Note 1: See section 714 for the contents of a profile statement.
Note 2: Subsection 729(2) provides that there is still liability to investors on the prospectus when a profile statement is used.
 (2A) Subsection (2) does not apply to an offer of simple corporate bonds.
 (3) ASIC may approve the use of profile statements for offers of securities of a particular kind. The approval may specify information to be included in the profile statement (including information about a matter referred to in paragraphs 714(1)(a) to (d)).

Offer information statement
 (4) A body offering to issue securities may use an offer information statement for the offer instead of a prospectus (other than a 2‑part simple corporate bonds prospectus) if the amount of money to be raised by the body by issuing the securities, when added to all amounts previously raised by:
 (a) the body; or
 (b) a related body corporate;