Corporations Regulations 2001

CHAPTER 6D - FUNDRAISING  

PART 6D.3A - CROWD-SOURCED FUNDING  

REGULATION 6D.3A.07   OBLIGATION OF CSF INTERMEDIARY RELATING TO THEIR PLATFORMS - APPLICANT RISK ACKNOWLEDGEMENT  

6D.3A.07(1)    
For the purposes of paragraph 738ZA(3)(b) of the Act, this regulation sets out the requirements for an acknowledgement by a person making an application pursuant to a CSF offer.

6D.3A.07(2)    
The following statement must be set out in the acknowledgement:

" I have read the CSF offer document. I understand this document is not a prospectus and contains less information than a prospectus.

I have read the risk warning and I understand that it contains some of the important information for making a decision about investing. However:

(a) I understand that crowd-sourced funding is risky and that I may lose my entire investment; and

(b) I confirm that I could bear that loss without suffering undue hardship; and

(c) I understand that I may never be able to sell my shares and the value of my investment may be diluted over time.

I am aware that I can use the communication facility to ask questions and that there is a 5 business day cooling off period in relation to this investment. " .