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Exemption in respect of offer made using offer information statement through ATM or WAP phone

Securities and Futures (Offers of Investments) (Exemption for Business Trusts) (No. 2) Regulations 2005

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—(1) Subject to paragraphs (2) and (3), where the units in SP Australia Networks (Finance) Trust or an Additional Trust which have been previously issued by the responsible entity of SP Australia Networks (Finance) Trust or the Additional Trust (acting in its capacity as responsible entity of SP Australia Networks (Finance) Trust or the Additional Trust), as the case may be, are listed for quotation on an approved exchange, a person making an offer of units or derivatives of units in SP Australia Networks (Finance) Trust or the Additional Trust, as the case may be, whether by means of a rights issue or otherwise, shall be exempt from the requirements under Subdivision (2) of Division 1 of Part XIII of the Act (other than section 257 of the Act).(2) The exemption under paragraph (1) shall be subject to the conditions set out in the Schedule and the following conditions:(a)in the case of the offer of derivatives of units referred to in paragraph (1), the underlying units of the derivatives of units being offered are units in SP Australia Networks (Finance) Trust or the Additional Trust, as the case may be;(b)the offer is made in or accompanied by an offer information statement relating to the offer, which —(i)complies with —(A)the requirements under regulation 38 of the Securities and Futures (Offers of Investments) (Securities and Securities-based Derivatives Contracts) Regulations 2018, as if regulation 38 is applicable to the offer information statement; or(B)the requirements referred to in sub-paragraph (A) as modified by the Authority on the application of any person interested; and(ii)is lodged with the Authority;(c)the offer is made using an ATM or a WAP phone;(d)[Deleted by S 671/2018 wef 08/10/2018](e)the ATM or WAP phone, as the case may be, indicates to a prospective subscriber or buyer —(i)how he can obtain, or arrange to receive, a copy of the offer information statement; and(ii)that he should read the offer information statement before submitting his application,before enabling him to submit any application to subscribe for or purchase the units or derivatives of units in SP Australia Networks (Finance) Trust or the Additional Trust, as the case may be.(3) The exemption referred to in paragraph (1) shall apply only for a period of 6 months after the date of lodgment of the offer information statement relating to the offer.

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