Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Act 2018 (106 of 2018)

Schedule 1   Amendments

Part 1   Main amendments

Corporations Act 2001

6   At the end of subsection 113(2)

Add:

; and (c) do not count as a shareholder any CSF shareholder of the company; and

(d) do not count as a shareholder an entity, in relation to a security of the company held by the entity, if:

(i) that security was originally issued to another entity pursuant to a CSF offer by the company; and

(ii) unless the circumstances (if any) prescribed by the regulations for the purposes of this subparagraph exist - no securities of the company have been traded on a financial market (whether in Australia or elsewhere); and

(iii) all the other requirements (if any) prescribed by the regulations for the purposes of this subparagraph are met.