Notice · Capital Markets & Securities — ECM/DCM and Disclosure
Cleansing notice under Corporations Act s 708A(5)(e), with eligibility check and excluded information record
A cleansing notice for ASX after a placement made without a disclosure document, with the four statements s 708A(6) requires, an eligibility check against s 708A(5)(a) to (d), and an internal record of the excluded information decision.
- Kind
- Notice. A formal notice to serve or publish.
- Where it applies
- Australia
- AI use
- Yellow AI can help in set ways. A lawyer checks specific points before use.
- Law stated as at
- 18 October 2026
- Status
- Maintained. Checked on 18 October 2026 against the 4 authorities it cites, for Australia.
- Version
- 1
- Source
- Written for this library
When to use it
Use when a listed entity issues quoted-class securities without a prospectus (for example a placement to sophisticated and professional investors) and wants the securities to be able to be on-sold without a disclosure document. The notice must be given within 5 business days after issue and before any on-sale offer. Not for an issue that needs a cleansing prospectus.
How AI may be used
AI may fill the notice's fixed statements and the issue details from the Appendix 2A and the register, and assemble the excluded information record from the disclosure committee papers; a lawyer decides whether any information is excluded information and whether the entity is eligible.
AI may
- Fill the entity, security class, number and issue date from the Appendix 2A and the issue confirmation
- Count the 5 business days from the issue date and check the 3-month quotation and suspension history from ASX records supplied
- List matters withheld under Listing Rule 3.1A from the disclosure committee register for the lawyer to assess
AI must not
- Must not decide that there is no excluded information
- Must not state compliance with Chapter 2M or ss 674 and 674A without the lawyer's and company secretary's confirmation
- Must not draft disclosure of excluded information without the lawyer settling its content
The lawyer checks
- Eligibility under s 708A(5)(a) to (d) confirmed: quotation for 3 months, suspension limits, no relevant ASIC exemptions or orders
- Every matter currently withheld under Listing Rule 3.1A assessed against s 708A(7) and recorded
- Compliance statements are true as at the date of the notice, after inquiry of the CFO and company secretary
- Notice lodged within 5 business days after issue and before any on-sale offer; the s 708A(9) correction duty diarised
Method: how the Green, Yellow and Red levels are decided. This is guidance for planning, not legal advice.
Read the full text
The full text is for signed-in accounts. It is free. When you sign in you can:
- read the whole precedent, with its drafting notes beside it;
- copy it, or download it as a Word file or Markdown;
- add it to your firm’s knowledge base, so colleagues can find it;
- let the AI tools you connect read it from that knowledge base.
The summary, the law it rests on and the AI-use guidance above stay public. Privacy.
More in Capital Markets & Securities — ECM/DCM and Disclosure
- Continuous disclosure policy and disclosure committee charter
- ASX announcement sign-off checklist (market sensitivity, verification, authorisation and release)
- Trading halt request letter to ASX
- Due diligence planning memorandum and verification protocol for a prospectus
- Substantial holding notice preparation checklist (Corporations Act s 671B)
- Checklist for AI-assisted verification of offer and disclosure documents
- Securities trading policy (closed periods, clearance, exceptions)
- Review checklist for AI-related statements in disclosure documents and annual reports ('AI washing')
All precedents for Capital Markets & Securities — ECM/DCM and Disclosure · Tasks and AI use in this area