Offers to which this Division applies
(1) This Division applies to an offer in relation to which the following paragraphs are satisfied: (a) the offer is an unsolicited offer to purchase a financial product made by a person (the offeror) to another person (the offeree); (b) the offer is made otherwise than on a licensed market; (c) one or more of the following apply: (i) the offer is made in the course of a business of purchasing financial products; (ii) the offeror was not in a personal or business relationship with the offeree before the making of the offer; (iii) the offer is made in circumstances specified in regulations made for the purposes of this subparagraph; (d) the offer is not: (i) made to the issuer of the financial products; or (ii) to buy back shares under a buy‑back authorised by section 257A; or (iii) made under a compromise or arrangement approved at a meeting held as a result of an order under subsection 411(1) or (1A); or (iv) to acquire securities under an off‑market bid; or (v) to compulsorily acquire or buy out securities under Chapter 6A; or (vi) to acquire shares from a dissenting shareholder under section 414; or (vii) made in relation to particular financial products that are specified in regulations made for the purposes of this subparagraph; or (viii) made in circumstances that are specified in regulations made for the purposes of this subparagraph; (e) the offer is made or received in this jurisdiction. (2) The regulations may clarify: (a) when an offer is, or is not, made in the course of a business of purchasing financial products; or (b) when an offeror was, or was not, in a previous personal or business relationship with an offeree. Regulations made for the purposes of this subsection have effect despite anything else in this section.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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