Document ID: chunk:federal_register_of_legislation:C2025C00185:section:2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 2
Character Range: 2749212–2752518

2            offer to grant (or transfer) a legal or equitable interest in securities or grant (or transfer) an option over securities       the rights and liabilities attaching to:
                                                                                                                                        ‑ the interest or option
                                                                                                                                        ‑ the underlying securities
                                                                                                                                             for an option—the capacity of the person making the offer to issue or deliver the underlying securities
                                                                                                                                             if the person making the offer is:
                                                                                                                                        ‑ the body that issued or is to issue the underlying securities; or
                                                                                                                                        ‑ a person who controls that body;
                                                                                                                                             the assets and liabilities, financial position and performance, profits and losses and prospects of that body
                                                                                                                                             if subsection 707(3) or (5) applies to the offer—the assets and liabilities, financial position and performance, profits and losses and prospects of the body whose securities are offered

Note: Section 713 makes special provision for prospectuses for continuously quoted securities.
 (2) In deciding what information should be included under subsection (1), have regard to:
 (a) the nature of the securities and of the body; and
 (c) the matters that likely investors may reasonably be expected to know; and
 (d) the fact that certain matters may reasonably be expected to be known to their professional advisers.
 (3) For the purposes of this section, a person's knowledge is relevant only if they are one of the following:
 (a) the person offering the securities;
 (b) if the person offering the securities is a body—a director of the body;
 (c) a proposed director of the body whose securities will be issued under the offer;
 (d) a person named in the prospectus as an underwriter of the issue or sale;
 (e) a person named in the prospectus as a financial services licensee involved in the issue or sale;
 (f) a person named in the prospectus with their consent as having made a statement:
 (i) that is included in the prospectus; or
 (ii) on which a statement made in the prospectus is based;
 (g) a person named in the prospectus with their consent as having performed a particular professional or advisory function.
Note: Section 729 says who is liable for misstatements in, and omissions from, a disclosure document.
 (4) This section does not apply to a 2‑part simple corporate bonds prospectus.