Section 675 — Corporations Act 2001: Continuous disclosure—other disclosing entities—reasonable person’s expectations

(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: (a) the disclosing entity becomes aware of information that is not generally available; and (b) a reasonable person would expect the information, if it were generally available, to have a material effect on the price or value of ED securities of the entity; and (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.