Clause 102
Amendment of section 304A
of Securities and Futures (Amendment) Bill
BillNot in forceProvision 102 of 120
Clause 102
Section 304A of the principal Act is amended —
(a)
by inserting, immediately after the words “and 305B”, the words “but subject to subsection (2)”; and
(b)
by renumbering the section as subsection (1) of that section, and by inserting immediately thereafter the following subsection:“(2) Subsection (1) shall not apply where the units in a collective investment scheme acquired are of the same class as, or can be converted into units of the same class as, other units in the scheme —
(a)
an offer of which has previously been made in or accompanied by a prospectus; and
(b)
which are listed for quotation on a securities exchange.”.