Since the introduction of Financial Services Reform Act (FSRA), and amendments to the Corporations Act, it has been necessary for Peet Limited to restrict the service previously offered.

In brief, the new laws prevent any company or trust from conducting a market. ASIC has advised us of its interpretation of the laws and in order to comply, the following is applicable until further notice.

Peet is not a licensed operator under Part 7.2 of the Corporations Act and offers only an Investors Registry service, which records actual transfers and provides factual answers to questions raised by investors. Accordingly Peet is not subject to the legal obligations that apply to the operator of a licensed market. Peet does not act as agent for the buyer or seller. Peet does not handle any funds and is not involved in the settlement, other than to record the transfer entry in its official Investors Registry records.

Peet is precluded by law from being involved in the sale price of the shares or units and is not permitted to provide any general or personal financial advice. There is no fee charged at any stage in the process.

If you have any doubts as whether you should be either buying or selling the shares or units, or any doubts on the negotiation process, including the ascertainment of a value for the shares or units, you should consult a suitably qualified professional adviser.