Clause 175

by deleting subsections (1) and (2) and substituting the following subsections:“(1) A person must not —

make an offer to any person of units in a collective investment scheme, securities or securities‑based derivatives contracts for subscription or purchase, in the course of, or arising from, an unsolicited meeting with that other person; or

make an invitation to any person to subscribe for or purchase units in a collective investment scheme, securities or securities‑based derivatives contracts, in the course of, or arising from, an unsolicited meeting with that other person.(2) Subsection (1) does not apply to any person who makes an offer or invitation in respect of units in a collective investment scheme, securities or securities‑based derivatives contracts that does not need a prospectus by virtue of section 274, 275, 304 or 305.”;

by deleting the word “securities” in subsection (3)(b) and substituting the words “units in a collective investment scheme, securities or securities‑based derivatives contracts”;

by deleting the word “securities” in subsection (5) and substituting the words “units in a collective investment scheme, securities or securities‑based derivatives contracts (as the case may be)”; and

by deleting paragraphs (a) and (b) of subsection (7) and substituting the following paragraphs:“(a)“securities” has the same meaning as in section 2 and also includes the securities of an entity or a business trust, whether the entity or business trust is in existence or is to be formed;

“securities-based derivatives contracts” has the same meaning as in section 2 and also includes securities‑based derivatives contracts of an entity or a business trust, whether the entity or business trust is in existence or is to be formed;

“unit”, in relation to a collective investment scheme, has the same meaning as in section 2 and also includes units in a collective investment scheme, whether the collective investment scheme is in existence or is to be formed; (d)a reference to an offer or invitation in respect of securities, securities‑based derivatives contracts or units in a collective investment scheme for subscription or purchase includes an offer or invitation in respect of securities, securities‑based derivatives contracts or units in a collective investment scheme (as the case may be) by way of barter or exchange.”.