Document ID: chunk:federal_register_of_legislation:F2016L00334:body:0:p3
Version: federal_register_of_legislation:F2016L00334
Segment Type: other
Provision Reference: 
Character Range: 5006–7659

before securities or interests are issued to other persons under the offer, provided that any such issue to an exempt investor occurs no earlier than 2 months before the issue of securities or interests to other persons who are not exempt investors;
(c) in relation to any securities or interests offered to but not accepted by some or all of the persons to whom the offers were first made:
 (i) processes are conducted at different times under which the securities or interests, or the invitations to apply for or rights to be issued with those securities or interests, are offered for issue or sale to exempt investors; and
(ii) payments are made at different times of any net proceeds of issues or sales under those processes to the persons to whom the securities, interests, invitations or rights were first offered;
(d) an offer made in the circumstance referred to in paragraph 708AA(13)(a) or 1012DAA(13)(a);
(e) the rounding up or down of the number of securities or interests offered to a person to a whole number; and
(f) persons who are offered securities or interests other than as exempt investors may be entitled to trade rights to be issued with securities or interests during a period of time ending before the time by which they may accept the offer.
(5) For the purposes of this section:
(a) exempt investor means a person:
(a) offered securities in circumstances that do not need disclosure under Part 6D.2 because of subsections 708(8) to (12); or
(b) offered interests as a wholesale client (as defined in section 761G);
process, in relation to an offer of securities or interests or invitations to apply for or rights to be issued with the securities or interests, includes:
(a) the appointment of a nominee:
(i)  to whom the securities, interests, invitations or rights are issued;
(ii) who sells the securities, interests, invitations or rights; and
(b) persons or classes of persons being invited to make offers to acquire:
(i) the securities or interests;
(ii) the invitations or rights on the condition that an application is made under the invitation or the rights are exercised;
Note: The issue and sale of securities or interests under the terms of an offer referred to in section 615 is a process for the purposes of this section.
(b) a reference to an offer of securities or interests includes a reference to an invitation to apply for the issue of securities or interests; and
(c) a reference to accepting an offer of securities or interests includes a reference to making an application for the securities or interests.".

6 Rights issues and related issues that do not need disclosure
    Chapter 6D of the Act applies