Corporations Regulations 2001

CHAPTER 6D - FUNDRAISING  

PART 6D.2 - DISCLOSURE TO INVESTORS ABOUT SECURITIES  

REGULATION 6D.2.03   SOPHISTICATED INVESTORS  

6D.2.03(1)   [ Net assets threshold]  

For subparagraph 708(8) (c)(i) of the Act, $2.5 million is specified.

6D.2.03(2)   [ Gross income threshold]  

For subparagraph 708(8) (c)(ii) of the Act, $250,000 is specified.

Note: Under subsection 708(8) of the Act, an offer of a body's securities does not need disclosure to investors under Part 6D.2 of the Act if it appears from a certificate given by a qualified accountant no more than 6 months before the offer is made that the person to whom the offer is made:

  • (a) has net assets of at least the amount specified in regulations made for the purposes of subparagraph 708(8) (c)(i); or
  • (b) has a gross income for each of the last 2 financial years of at least the amount specified in regulations made for the purposes of subparagraph 708(8) (c)(ii).
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