ABC Limited (a registered bank) makes an offer of debt securities that will convert into ordinary shares.
The convertibles are debt securities, while the new products are equity securities.
An offer of the debt securities issued by a registered bank does not require disclosure under Part 3 of the Act (see clause 21 of Schedule 1 of the Act). Instead, a limited disclosure document (LDD) that complies with Schedule 9 is required. However, the offer of the equity securities requires disclosure under Part 3 of the Act.
The disclosure document (which is a PDS for the offer of the equity securities and an LDD for the offer of the debt securities) must comply with the requirements in Schedule 9. Most of the disclosure required by Schedule 9 relates to the debt securities, but that schedule does require some additional information to be included relating to the equity securities.
The register entry for the offer of equity securities must comply with the requirements for debt securities (in Part 2 of Schedule 2) rather than those that apply to equity securities (in Part 2 of Schedule 3).