Section 675 — Corporations Act 2001 (Cth)

(1) This section applies to:

(a) a listed disclosing entity if:

(i) there is only one listing market in relation to the entity and the listing rules of that market do not contain provisions of a kind referred to in subsection 674(1); or

(ii) there is more than one listing market in relation to the entity and none of those markets have listing rules that contain provisions of a kind referred to in subsection 674(1); or

(b) an unlisted disclosing entity.

(2) If:

(c) either:

(i) if those securities are not managed investment products or foreign passport fund products—the information is not required to be included in a supplementary disclosure document or a replacement disclosure document in relation to the entity; or

(ii) if those securities are managed investment products or foreign passport fund products—the information has not been included in a Product Disclosure Statement, a Supplementary Product Disclosure Statement, or a Replacement Product Disclosure Statement, a copy of which has been lodged with ASIC; and

(d) regulations made for the purposes of this paragraph do not provide that disclosure under this section is not required in the circumstances;

the disclosing entity must, as soon as practicable, lodge a document with ASIC containing the information.

Note 1: Failure to comply with this subsection is an offence (see subsection 1311(1)).

Note 3: An infringement notice may be issued for an alleged contravention of this subsection, see section 1317DAC.

Note 4: Subsection (2) has an extended operation in relation to disclosing entities that have made recognised offers of securities under Chapter 8 (see section 1200K).

Note 5: Subsection (2) has a modified operation in relation to securities in a CCIV: see section 1240F.

(3) For the purposes of the application of this section to a disclosing entity that is an undertaking to which interests in a registered scheme relate:

(a) the entity is aware of information if, and only if, the responsible entity is aware of the information; and

(b) the obligation of the entity to lodge a document under subsection (2) is an obligation of the responsible entity.

(4) For the purposes of the application of this section to a disclosing entity that is an undertaking to which interests in a notified foreign passport fund relate:

(a) the entity is aware of information if, and only if, the operator of the fund is aware of the information; and

(b) the obligation of the entity to lodge a document under subsection (2) is an obligation of the operator of the fund.

Related sections

• s 673 — ASIC’s power to exempt and modify
• s 674 — Continuous disclosure—listed disclosing entity bound by a disclosure requirement in market listing rules—reasonable person’s expectations
• s 674A — Continuous disclosure—listed disclosing entity bound by a disclosure requirement in market listing rules—knowledge, recklessness or negligence
• s 675A — Continuous disclosure—other disclosing entities—knowledge, recklessness or negligence
• s 676 — Meaning of generally available
• s 677 — Material effect on price or value

Research how courts apply s 675

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.