Updated exemption makes capital raising easier

The Securities Act (Short Form Prospectus) Exemption Notice 2009 (2009 Notice), which replaces the Securities Act (Short Form Prospectus) Exemption Notice 2002 (2002 Notice), came into force on Monday.

The 2009 Notice retains the existing exemptions in the 2002 Notice, and adds new exemptions that have the effect of reducing securities law compliance for companies that are eligible to use a short form prospectus when issuing securities to their existing security holders.