Lodge a prospectus for offers requiring disclosure
Offers of securities to retail investors require a prospectus or OIS lodged with ASIC.
Who must comply
Issuers of securities + persons making offers.
What triggers it
Making a disclosure-required offer.
When due
Before opening the offer.
Evidence required
Prospectus + OIS lodged via ASIC; due-diligence file.
Max penalty
Civil + criminal penalties for defective disclosure
Summary
Section 706 Corporations Act requires offers of securities to need disclosure unless an exception applies (small-scale, sophisticated investor, etc.). Prospectus must be lodged with ASIC; 7-day exposure period before opening; contains prescribed content.
Enforced by
Source legislation
Entity types
Topics
Source: https://asic.gov.au/regulatory-resources/fundraising/. Rules Mate is not a law firm. Always verify against the live regulator source before acting.