Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1017A

1017A. (1) In this section:

"approved unlisted corporation", in relation to securities, means an
unlisted corporation that has been approved by the Commission in respect of
those securities as a corporation that has established adequate arrangements
to keep its employees informed about:

   (a)  in the case of shares or debentures-its operations; or

   (b)  in the case of prescribed interests-the operations of the relevant
        undertaking, scheme, enterprise or investment contract to which the
        interests relate;

"exempt recipient" means:

   (a)  the trustee of a superannuation fund constituted by or under a law of
        the Commonwealth, of a State, of a Territory or of a foreign country;

   (b)  a holder of a dealers licence acting as principal;

   (c)  a corporation registered under the Life Insurance Act 1945 or the
        Financial Corporations Act 1974;

   (d)  an investment company within the meaning of Part 4.4;

   (e)  the trustee of a trust that is declared by the Commission to be an
        equity unit trust for the purposes of this section and in respect of
        which there is an approved deed for the purposes of Division 5; or

   (f)  a person declared by the Commission, by notice published in the
        Gazette, to be an institutional investor for the purposes of this
        section;

"listed corporation" means a corporation that is included in the official list
of a stock exchange;

"unlisted corporation" means a corporation other than a listed corporation.

(2) A prospectus in relation to securities of a corporation is a registrable
prospectus unless it is exempt from registration under section 1020A by virtue
of this section.

(3) A prospectus in relation to shares in, or debentures of, a corporation is
exempt from registration under section 1020A if:

   (a)  the shares or debentures, as the case may be, are in a class of shares
        in, or debentures of, the corporation that are listed for quotation on
        a stock market of a stock exchange; or

   (b)  the relevant allotment, issue, offer or invitation is proposed to be
        made or issued:

        (i)    in the case of shares-to existing members of the corporation;

        (ii)   in any case-to an exempt recipient; or

        (iii)  if the corporation is a listed corporation, or is an approved
               unlisted corporation in relation to shares in the corporation,
               or debentures of the corporation, as the case may be-to
               employees of the corporation.

(4) A prospectus in relation to prescribed interests made available by a
corporation is exempt from registration under section 1020A if the relevant
issue, offer or invitation is proposed to be made or issued:

   (a)  in any case-to an exempt recipient; or

   (b)  if the corporation is a listed corporation, or is an approved unlisted
        corporation in relation to prescribed interests made available by
        it-to employees of the corporation.