Clause 84

by deleting the word “and” at the end of subsection (1)(a);

by deleting the full-stop at the end of paragraph (b) of subsection (1) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(c)no prospectus in respect of the offer has been registered by the Authority or, where a prospectus has been registered —

the prospectus has expired pursuant to section 282K; or

the person making the offer has before making the offer —

informed the Authority by notice in writing of its intent to make the offer in reliance on the exemption under this subsection; and

taken reasonable steps to inform in writing the person to whom the offer is made that the offer is made in reliance on the exemption under this subsection.”;

by deleting “$200,000” in subsection (2)(a) and substituting “$100,000”;

by deleting the word “and” at the end of subsection (2)(b);

by deleting the full-stop at the end of paragraph (c) of subsection (2) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(d)no prospectus in respect of the offer has been registered by the Authority or, where a prospectus has been registered —

the prospectus has expired pursuant to section 282K; or

the person making the offer has before making the offer —

informed the Authority by notice in writing of its intent to make the offer in reliance on the exemption under this subsection; and

taken reasonable steps to inform in writing the person to whom the offer is made that the offer is made in reliance on the exemption under this subsection.”; and

by deleting the word “recognised” in paragraph (ii) of the definition of “advertisement” in subsection (3) and substituting the word “overseas”.