START QUOTE Stop orders: what they are and when we will issue one
A stop order is an administrative mechanism that allows ASIC to prevent offers being made under a disclosure document where we believe it contains:
a misleading or deceptive statement an omission of information required to be provided under the legislation, or a new circumstance has arisen since the disclosure document was lodged.
If we impose a stop order on your disclosure document, your company is not allowed to offer, issue, sell or transfer its shares while that order is in force. An interim stop order may be made for up to 21 days, during which time a hearing must be held to give your company a chance to put its views to an independent delegate. After the hearing we may lift the interim stop order or place a final stop order on the disclosure document.
END QUOTE
GCN Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held