Clause 43
Repeal and re-enactment of section 239A
of Securities and Futures (Amendment No. 2) Bill
BillNot in forceProvision 43 of 113
Clause 43
Section 239A of the principal Act is repealed and the following section substituted therefor:“Authority may disapply this Division to certain offers239A. Notwithstanding any provision to the contrary in this Division, where —
(a)
an offer of securities is one to which (but for this section) both this Division and Division 2 apply; and
(b)
the Authority has by order published in the Gazette declared that this Division shall not apply to that offer or a class of offers to which that offer belongs,then this Division shall not apply to that offer.”.