Section (12G) The sale offer does not need discl - ASIC Corporations (Regulatory Capital Securities) Instrument 2026/88 - (12G) The sale offer does not need disclosure to investors under this Part if:

(12G) The sale offer does not need discl(12G) The sale offer does not need disclosure to investors under this Part if:

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(12G) The sale offer does not need disclosure to investors under this Part if:

(a) the relevant securities were issued by reason of the conversion or exchange of regulatory capital securities in accordance with their terms of issue; and
(b) the regulatory capital securities were issued under a prospectus; and
(c) the conversion or exchange did not involve any further offer.
(12GA) Subsection (12G) does not apply in relation to relevant securities that were issued by reason of the conversion or exchange of regulatory capital securities if, under the terms of the regulatory capital securities at the time they were issued, they must or may be converted into, or exchanged for, ordinary shares in an entity (including an entity that, at the time the regulatory capital securities were issued, does not exist) that, as a result of a restructure (however described) initiated by persons other than the directors of the issuer of the regulatory capital securities or the ultimate holding company of the issuer, will be, at the time of exchange or conversion, the ultimate holding company of the issuer.