Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.1 - PRELIMINARY  

Division 4 - Meaning of financial service and related terms  

SECTION 766F   MEANING OF CROWD-FUNDING SERVICE  

Meaning of provides a crowd-funding service

766F(1)    
A person provides a crowd-funding service if:

(a)    a CSF offer document for a CSF offer of securities of a company is published on a platform operated by the person; and

(b)    applications may be made to the person for the issue, by the company, of securities pursuant to the offer.

Note: CSF offers are dealt with in Part 6D.3A (Crowd-sourced funding).

766F(2)    
The financial service constituted by providing a crowd-funding service is taken to include (in addition to the matters mentioned in subsection (1) ), performing all other aspects of the role of a CSF intermediary under Part 6D.3A .

To whom, and when, a crowd-funding service is provided

766F(3)    
A person who uses the application facility for the CSF offer to make an application pursuant to the offer is a person to whom the crowd-funding service is provided. The time at which the crowd-funding service is provided to the person is the time when the person first uses the application facility to make an application pursuant to the offer.

Note: For the meaning of application facility , see subsection 738ZA(3) .

766F(4)    
The company making the CSF offer is a person to whom the crowd-funding service is provided. The time at which the crowd-funding service is provided to the company is the time when the company enters into the hosting arrangement for the offer.

Note: For the meaning of hosting arrangement , see subsection 738L(2) .