Document ID: chunk:federal_register_of_legislation:F2018L00204:body:0:p3
Version: federal_register_of_legislation:F2018L00204
Segment Type: other
Provision Reference: 
Character Range: 5372–8258

operator received the participating holder's election to participate in the facility;
(c) where the facility is a related purchase facility—under the terms of the facility all of the following apply:
(i) the money of the participating holders to be used to acquire financial products through the facility is pooled;
(ii) a broker acquires the financial products in the ordinary course of trading on the relevant market;
(iii) the broker may deduct expenses of acquiring the financial products from the money referred to in subparagraph (i);
(iv) each participating holder is allocated their proportion of the financial products purchased;
(v) each participating holder has transferred to them the financial products allocated to them within eight weeks after the date on which the operator received the participating holder's election to participate in the facility;
(vi)  each participating holder may acquire financial products through the facility (aggregated with any other financial products in the same class that were acquired through any previous facility) for consideration totalling no more than $5,000 in any consecutive 12 month period.

6 Conditions
(1) An operator relying on any of the exemptions in subsections 5(1) and 5(2) must do all of the following:
(a) give or send to each holder who has been invited to participate in the facility, a document which complies with subsection (2) of this section, by:
(i) giving the document to the holder personally; or
              (ii) sending the document:
                   (A) by post to the address for the holder in the register of members or an alternative address (if any) nominated by the holder; or
                   (B) to the fax number or electronic address (if any) nominated by the holder; or
              (iii) making the document available to the client by a nominated electronic means;
           (b) take reasonable steps to ensure the facility is not operated during any period where a control transaction has been publicly proposed and has not ended;
           (c) take reasonable steps to ensure that, where a related purchase facility is made available in conjunction with a sale facility, a participating holder can participate in either, but not both, of the facilities;
           (d) ensure the facility does not remain open for longer than 12 months.
(2) The document:
(a) must contain all of the following:
 (i) a statement that the facility is open until the expiry date set out in the document;
(ii) information about the minimum and maximum number of financial products a participating holder can sell or purchase through the facility;
(iii) a statement that the market price of financial products is subject to change from time to time;
(iv) information about how to obtain up-to-date information on the market price of the financial products;
(v)  information about any expenses relating to