Document ID: chunk:federal_register_of_legislation:C2025C00185:section:711:p1
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 711 (pt 1/2)
Character Range: 2752518–2755123

711  Prospectus content—specific disclosures

Terms and conditions of offer
 (1) The prospectus must set out the terms and conditions of the offer.

Disclosure of interests and fees of certain people involved in the offer
 (2) The prospectus must set out the nature and extent of the interests (if any) that each person referred to in subsection (4) holds, or held at any time during the last 2 years, in:
 (a) the formation or promotion of the body; or
 (b) property acquired or proposed to be acquired by the body in connection with:
 (i) its formation or promotion; or
 (ii) the offer of the securities; or
 (c) the offer of the securities.
 (3) The prospectus must set out the amount that anyone has paid or agreed to pay, or the nature and value of any benefit anyone has given or agreed to give:
 (a) to a director, or proposed director, to induce them to become, or to qualify as, a director of the body; and
 (b) for services provided by a person referred to in subsection (4) in connection with:
 (i) the formation or promotion of the body; or
 (ii) the offer of the securities.
To comply with this subsection it is not sufficient merely to state in the prospectus that a person has been paid or will be paid normal, usual or standard fees.
 (4) Disclosures need to be made under subsections (2) and (3) in relation to:
 (a) any directors and proposed directors of the body;
 (b) a person named in the prospectus as performing a function in a professional, advisory or other capacity in connection with the preparation or distribution of the prospectus;
 (d) a promoter of the body;
 (e) an underwriter (but not a sub‑underwriter) to the issue or sale or a financial services licensee named in the prospectus as a financial services licensee involved in the issue or sale.

Quotation of securities
 (5) If the prospectus for an offer of securities states or implies that the securities will be able to be traded on a financial market (whether in Australia or elsewhere), the prospectus must state that:
 (a) the securities have been admitted to quotation on that financial market; or
 (b) an application for admission of the securities to quotation on that financial market has been made to the operator of that market; or
 (c) an application for admission of the securities to quotation on that financial market will be made to the operator of that market within 7 days after the date of the prospectus.
Note 1: Paragraph 724(1)(b) gives times within which the person should seek and obtain admission to quotation.
Note 2: Subsection 716(1) requires the prospectus to be dated.

Expiry date
 (6)