Released 12 December 2001. Comment closed 18 January 2002.

This policy statement gives guidance on ASIC’s current approach to the use of prospective financial information, including financial forecasts and projections, in disclosure documents and Product Disclosure Statements (PDS). It also applies to conduct under s995 of the Corporations Act 2001 (Corporations Act). This policy statement replaces Practice Note 67 Financial forecasts in prospectuses [PN 67].

This policy statement discusses:

A when prospective financial information can or should be disclosed;

B what are reasonable grounds for prospective financial information;

C other requirements for prospective financial information; and

D what information should be disclosed by a product issuer in the absence of prospective financial information.

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