Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:1_736
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 1 cl 736
Character Range: 464444–465371

736  Securities hawking prohibited

 (1) A person must not offer securities for issue or sale in the course of, or because of, an unsolicited:
 (a) meeting with another person; or
 (b) telephone call to another person;
unless the offer is exempted under subsection (2).

Note: Section 700 extends offers to include invitations and distributing application forms.

 (2) Subsection (1) does not prohibit an offer of securities if:
 (a) the offer does not need a disclosure document because of subsection 708(8) or (10) (sophisticated investors); or
 (b) the offer does not need a disclosure document because of subsection 708(11) (professional investors); or
 (c) the offer is an offer of listed securities made by telephone by a licensed securities dealer; or
 (d) the offer is made to a client by a licensed securities dealer through whom the client has bought or sold securities in the last 12 months.

Division 2—Remedies