P O WORDS POWERED BY TINY QUESTION 6 15 points Scenario: BioMed Limited (BioMed) is pharmaceutical company which has manufactured vaccines for several years. As a result of the global pandemic and the increased demand for vaccines. raising BioMed wishes to raise $15 million in equity capital to commercialise its new vaccine. It has recently been listed on the ASX for this purpose and lodged the prospectus for the equity capital The profit forecasts in the prospectus were based on figures provided by BioMed and were verified by a registered company auditor, Kriative Auditing Lid ("Kriative Auditing"). The company auditor had consented to being named in the prospectus in connection with the statements made about the profit forecasts. ProVax Limited ('ProVax') has developed a similar product to Bion 5. ProVax claims that its product is more effective and BioMed has recently lost market share to ProVax. After Biomed has lodged its prospectus, it appears that the customer numbers in the document have been grossly overstated, to counteract its recent loss of market share to ProVax. As a result. the profit forecasts in the prospectus are significantly overstated. The investors in BioMed threaten to commence legal action on the basis that the profit forecasts in the prospectus are misleading and deceptive. Three months after the capital-raising, scientific research commissioned by BioMed shows that the vaccine manufactured by BioMed in fact has significant side effects. Due to this problem the uptake of the vaccine will be adversely affected and therefore have a negative effect on the price of BioMed's shares. BioMed keeps the research results confidential. Questions: 5b) Based on the provisions of the Corporations Act 2001 (Cth) identified in question (5a), and with the aid of case law, explain to the directors whether BioMed have breached the disclosure provisions. (15 marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Open Sans,sa... 10pt Ev A V L V I E X2 X2 ABE V Save All Answers Save and Submit Click Save and Submit to save and submit. Click Save All Answers to save all answers