Regulation 4

For a period of 6 months from 22nd December 2003, subdivisions (2) and (3) of Division 1 of Part XIII of the principal Act shall not apply to an offer or invitation in respect of shares, debentures, or units of shares or debentures, whether or not they have been previously issued, made to any person referred to in section 274(a) to (i) of the principal Act in force immediately before that date (not being a person referred to in section 274 (a) to (j) of the principal Act), provided that the offer or invitation was made before that date and has not closed by that date.