Section 1322(4)(a) relief may be granted to validate offers for sale and sales of securities made in contravention of s 707(3) where the s 708A(5) cleansing notice exemption was unavailable (not merely where it was available but not complied with), provided the requirements of s 1322(6) are met. However, ASIC may oppose relief for the company and its officers in such circumstances, distinguishing cases where the cleansing notice regime was available but the notice was given late.
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