Financial Markets Conduct (Pegasus Health Membership Limited) Exemption Notice 2021

The Financial Markets Conduct (Pegasus Health Membership Limited) Exemption Notice 2021 (Notice) exempts Pegasus Health Membership Limited (PHML) from disclosure, financial reporting and record keeping requirements under the Financial Markets Conduct Act 2013 (the Act), subject to certain conditions.

The main effects of the Notice are as follows:

• PHML is exempted from the disclosure and financial reporting requirements in Parts 3 and 7 of the Act, and from some limited register and record keeping requirements under Part 4 of the Act, in relation to offers of equity securities in PHML that are offered only to persons who are, or immediately after the issue or sale will be, ‘members’ (i.e., shareholders) of PHML.
• The exemption from Part 3 disclosure requirements is subject to the following conditions:
  • PHML must not accept an application, or issue or transfer shares to a member or the nominee unless before the application was made, a disclosure document for the offer was given to the member, which contains all the information that must be contained in a key information summary under Schedule 3 of the Financial Markets Conduct Regulations 2014 in relation to an offer of PHML shares (unless irrelevant to the offer).
  • Additionally, PHML must ensure that a prescribed warning statement is included, in a prominent position, at the front of every document provided to a member that contains the key terms of the offer.
• The aggregate investment per member must be $5,000 or less for these exemptions to apply.