Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1012da:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1012DA (pt 2/4)
Character Range: 4290623–4293260

under subsection (5) of this section.
 (3) The determination must be made in writing and a copy must be published in the Gazette as soon as practicable after the determination is made.
 (4) A failure to publish a copy of the determination does not affect the validity of the determination.

Transfer or sale of quoted securities—case 1
 (5) The regulated person does not have to give the client a Product Disclosure Statement if:
 (a) the relevant product is in a class of financial products that were quoted securities at all times in the 3 months before the day on which the relevant product was issued; and
 (b) trading in that class of financial products on a declared financial market on which they were quoted was not suspended for more than a total of 5 days during the shorter of the period during which the class of financial product was quoted, and the period of 12 months before the day on which the relevant product was issued; and
 (c) no exemption under section 111AS or 111AT covered the issue of the relevant product, or any person as director or auditor of the issuer, at any time during the relevant period referred to in paragraph (b); and
 (d) no order under section 340, 340A, 341 or 341A covered the issuer of the relevant product, or any person as director or auditor of the issuer, at any time during the relevant period referred to in paragraph (b); and
 (e) either:
 (i) if the regulated person is not required under subsection (1) to give a Product Disclosure Statement—the issuer of the relevant product gives the relevant market operator for the issuer a written notice that complies with subsection (6) before the relevant conduct occurs; or
 (ii) if the regulated person is not required under subsection (1A) to give a Product Disclosure Statement—both the issuer of the relevant product, and the controller, give the relevant market operator for the issuer a written notice that complies with subsection (6) before the relevant conduct occurs.
 (6) A notice complies with this subsection if the notice:
 (a) is given within 5 business days after the day on which the relevant product was issued; and
 (b) states that the relevant product was issued without a Product Disclosure Statement for the relevant product being prepared; and
 (c) states that the notice is being given under paragraph (5)(e); and
 (d) states that, as a disclosing entity, the issuer of the relevant product is subject to regular reporting and disclosure obligations; and
 (e) states that, as at the date of the notice, the issuer of the relevant product has complied with the provisions of Chapter 2M, and of sections 674 and 674A,