Section 677 — Corporations Act 2001 (Cth)

(1) For the purposes of sections 674 and 675, a reasonable person would be taken to expect information to have a material effect on the price or value of ED securities of a disclosing entity if the information would, or would be likely to, influence persons who commonly invest in securities in deciding whether to acquire or dispose of the ED securities.

(2) For the purposes of sections 674A and 675A:

(a) an entity knows information would have a material effect on the price or value of ED securities of the entity if the entity knows the information would, or would be likely to, influence persons who commonly invest in securities in deciding whether to acquire or dispose of the ED securities; and

(b) an entity is reckless or negligent with respect to whether information would have a material effect on the price or value of ED securities of the entity if the entity is reckless or negligent with respect to whether the information would, or would be likely to, influence persons who commonly invest in securities in deciding whether to acquire or dispose of the ED securities.

Related sections

• s 675 — Continuous disclosure—other disclosing entities—reasonable person’s expectations
• s 675A — Continuous disclosure—other disclosing entities—knowledge, recklessness or negligence
• s 676 — Meaning of generally available
• s 678 — Application of Criminal Code to offences based on subsection 674(2), 674(5) or 675(2)
• s 700 — Coverage of the fundraising rules
• s 702 — Treatment of offers of options over securities

Research how courts apply s 677

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