Document ID: chunk:federal_register_of_legislation:C2025C00185:section:713a:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 713A (pt 2/4)
Character Range: 2763872–2766506

not exceed $1,000.

Securities may only be redeemed before fixed term in specified circumstances
 (13) The securities must not be redeemable (other than at the end of the fixed term) except in one or more of the following circumstances:
 (a) at the option of the holders of the securities;
 (b) as a result of the acceptance of offers made to the holders by the issuing body to buy back the securities;
 (c) a change in a law, or in the application or interpretation of a law, with the effect that interest payable on the securities is not, or may not be, deductible by the issuing body for the purposes of calculating its taxation liability;
 (d) a change in a law, or in the application or interpretation of a law, with the effect that:
 (i) the issuing body, or any guarantor for the body, would be required to deduct or withhold an amount in respect of taxes from a payment to the holders; and
 (ii) under the terms of the securities, that deduction or withholding would result in the body, or any guarantor, being required to pay an additional amount to the holders in relation to the amount deducted or withheld;
 (e) there is a change of control of the issuing body (as defined in the terms of the securities) and the redemption does not take effect unless all securities issued under the offer are redeemed;
 (f) fewer than 10% of the securities issued under the offer remain on issue and the redemption does not take effect unless all securities issued under the offer are redeemed.

Debt to security holders is not subordinated to debts to unsecured creditors
 (14) The issuing body's debts to holders of the securities must not be subordinated to any of the issuing body's debts to unsecured creditors.

Securities not convertible
 (15) The securities must not be convertible into another class of securities.

Securities are offered at single price
 (16) The price payable for the securities must be the same for all persons who accept the offer.

Continuously quoted securities
 (17) The issuing body must be a body that:
 (a) has continuously quoted securities; or
 (b) is a wholly‑owned subsidiary of a body corporate that:
 (i) has continuously quoted securities; and
 (ii) has guaranteed, or agreed to guarantee, the repayment of any money deposited or lent to the borrower under the securities; and
 (iii) has guaranteed, or agreed to guarantee, the payment of any interest payable on the securities;
where trading in the securities on a declared financial market on which the securities are quoted was not suspended for more than a total of 5 days during the shorter of the following periods:
 (c) the period during