Using an information memorandum as a listing document when capital is being sought from sophisticated investors s708(8) of the Corporations Act.  |
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|---|---|
| Rule: | 2B 4.4 (2)(i)(a) |
| Date Requested: | Friday, May 16, 2003 |
| Requested By: | Arnold Block Liebler |
| Date Approved: | Friday, May 16, 2003 |
| Approved By: | NSX Compliance Committee |
| Issuer: | IFR |
| Securities: | IFRHA |
| Description of Rule: | (2) The Exchange may allow an issuer to provide an information memorandum setting out the matters specified in Appendix 1 instead of a prospectus but only if: (i) the applicant satisfies the Exchange that: (a) it has not raised any capital in the previous 3 months and does not expect it will raise capital in the next 3 months; |
| Waiver Requested: | The waiver is required as the Listing Rule 4.4(2)(i)(a) was drafted with personal investors in mind and that for wholesale loan securities an under s708(8) of the Act and Information Memorandum is a suitable document for these securities. |