Document ID: chunk:federal_register_of_legislation:F2017C00893:body:0:p3
Version: federal_register_of_legislation:F2017C00893
Segment Type: other
Provision Reference: 
Character Range: 5230–7305

the sale offer.
(3) The exemptions in subsections (1) and (2) apply where all of the following are satisfied in relation to the pro-rata offer or shortfall offer:
           (a) the terms of each offer made to an Australian offeree are no less favourable than those extended to other offerees;
           (b) the number of securities offered to Australian residents is no more than 10% of the number of securities offered to all offerees;
           (c) the securities to which the offer relates are in a class of securities that were quoted on an approved foreign market at all times in the 3 months before the day the offer is made;
           (d) trading in that class of securities on the foreign market was not suspended for more than a total of 5 days during the shorter of the following periods:
              (i) the period during which the class of securities is quoted;
              (ii) the period of 12 months before the day on which the offer is made;
           (e) the disclosure relating to the offer that is given or made available to Australian offerees:
              (i) is the same as the disclosure that is given or made available to an offeree located in the primary foreign jurisdiction; and
              (ii) is in English if an English version of the disclosure is available; and
              (iii) is given or made available at or before the time the offer is made.

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration    Date of commencement  Application, saving or transitional provisions
2015/356           1/9/2015 (see F2015L01377)  2/9/2015
2017/6             4/9/2017 (see F2017L01128)  5/9/2017              -

Endnote 2—Amendment history
ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. = repealed     rs. = repealed and substituted
Provision affected                                 How affected
Section 2                                          rep. s48D LA
Section 4 (definition of approved foreign market)
                                                   am. 2017/6