Document ID: chunk:federal_register_of_legislation:F2023C00208:reg:12:p1
Version: federal_register_of_legislation:F2023C00208
Segment Type: reg
Provision Reference: reg 12 (pt 1/2)
Character Range: 35419–38144

12  Initial public offers: Sale offers through special purpose vehicles

       (1) A body (the special purpose body) does not have to comply with subsection 1020B(2) of the Act in relation to a sale of shares in a body (the listing body) by the special purpose body where all of the following are satisfied:

            (a) the sale of the shares is made under a prospectus or pathfinder prospectus or both in connection with the proposed listing of the listing body on the financial market operated by ASX Limited;

            (b) at the time of the sale, an agreement exists between the special purpose body and a person (the selling shareholder) who has a presently exercisable and unconditional right to vest the shares in a buyer;

            (c) under the agreement the selling shareholder agrees to sell the shares to the special purpose body (or its nominee) and the special purpose body agrees to purchase (or agrees to procure its nominee to purchase) the shares from the selling shareholder, on the condition that the listing body is included in the official list of the financial market and the shares are admitted to quotation on that market;

            (d) at the time of the sale, the special purpose body is not selling the shares on behalf of the selling shareholder;
            (e) the listing body makes offers to issue shares which are in the same class as the shares offered for sale by the special purpose body, under either:
                (i) if the special purpose body is selling the shares under a prospectus (whether or not it is also selling the shares under a pathfinder prospectus)—the prospectus; or
                (ii) if the special purpose body is selling the shares under a pathfinder prospectus (and not also under a prospectus)—a prospectus.
(2) In subsection (1):
pathfinder prospectus means a draft prospectus sent to a person in the circumstances covered by subsection 734(9) of the Act.

Part 4—Exemptions from short selling reporting

13 Market makers: exchange traded funds and managed funds
(1) An ETF market maker does not have to comply with subsection 1020AB(3) of the Act to the extent it requires the ETF market maker to give the particulars specified in paragraphs 7.9.100(1)(a) to (c) of the Regulations.
(2)     Subsection (1) applies in relation to a sale of interests in, or securities of, an exchange traded fund or a managed fund by the ETF market maker in the course of making a market in those interests or securities on a financial market operated by ASX Limited or Cboe Australia Pty Ltd.
(3) In subsections (1) and (2):
exchange traded fund (or ETF) has the meaning given by subsection 1020B(4D) of the Act.
ETF market maker has the meaning given by