Released 28 September 2007. Comments closes 7 November 2007.

Recent amendments to the Corporations Act 2001 (Cth) (Corporations Act) provide an exemption from the requirement to issue a prospectus or PDS for rights issues. Some offers using a non-traditional rights issue structure, including accelerated rights issues, fall outside this exemption. In an accelerated rights issue, the offer to institutional holders is accelerated to enable issuers to raise funds more quickly and to give greater certainty about the funds that will be raised.

This paper seeks your feedback on some specific circumstances where it might be appropriate for us to give relief to allow non-traditional rights issues to use the disclosure exemption.

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