Document ID: chunk:federal_register_of_legislation:F2022C01168:body:0:p1
Version: federal_register_of_legislation:F2022C01168
Segment Type: other
Provision Reference: 
Character Range: 0–3151

ASIC Corporations (Sale Offers: Securities Issued on Conversion of Convertible Notes) Instrument 2016/82

About this compilation

Compilation No. 1

This is a compilation of ASIC Corporations (Sale Offers: Securities Issued on Conversion of Convertible Notes) Instrument 2016/82 as in force on 15 November 2022. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information
about amending instruments and the amendment history of each amended provision.

Contents

Part 1—Preliminary
1 Name of legislative instrument
3 Authority
4 Definitions
Part 2—Declaration
5 Definitions of "continuously quoted securities" and "convertible note"
6 Sale offer of underlying securities issued on conversion of convertible notes
7 Transfer or sale of underlying products issued on conversion of convertible notes
Endnotes
Endnote 1—Instrument history
Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument
This instrument is ASIC Corporations (Sale Offers: Securities Issued on Conversion of Convertible Notes) Instrument 2016/82.

3 Authority
This instrument is made under sections 741 and 1020F of the Corporations Act 2001.

4 Definitions
In this instrument:
Act means the Corporations Act 2001.

Part 2—Declaration

5 Definitions of "continuously quoted securities" and "convertible note"
    Chapter 6D and Part 7.9 of the Act respectively apply to, and in relation to, all persons as if section 9 of the Act were modified or varied as follows:
       (a) in the definition of continuously quoted securities omit "prospectus or Product Disclosure Statement" (twice occurring), substitute "prospectus, Product Disclosure Statement or notice given under paragraph 708A(12C)(e) or 1012DA(12C)(e)";
       (b) in the definition of convertible note after "Income Tax Assessment Act 1936", insert "and, in sections 708A and 1012DA, includes a converting note".
           Note: Part 7.9 applies in relation to the issue and sale of securities in a CCIV, subject to modifications in Division 4 of Part 8B.7.

6 Sale offer of underlying securities issued on conversion of convertible notes
    Chapter 6D of the Act applies to all persons as if section 708A were modified or varied as follows:
       (a) in paragraph (1)(a) omit "(11), (12) or (12A),", substitute "(11), (12), (12A) or (12C),";
Note: Subsection 708A(12A) is notionally inserted into the Act by ASIC Corporations
(Non-Traditional Rights Issues) Instrument 2016/84.
       (b) after subsection (12B) insert:

       "Sale offer of underlying securities issued on conversion of convertible notes—case 5

             (12C) The sale offer does not need disclosure to investors under this Part if:
                (a) the relevant securities were issued by a body by reason of the conversion of convertible notes issued by that body; and
                (b) on the day on which a notice in relation to the convertible notes was given under paragraph (e):
                   (i)