Tag Archives: crowd-funding

Crowd-sourced funding regime comes into operation

The long awaited crowd-sourced funding (CSF) regime officially came into effect for unlisted public companies late last month. Although it will be some time before CSF offers are regularly being made on crowd funding platforms, as ASIC did not commence processing intermediary licence applications until after the official commencement of the regime, start-ups finally have the green light to start raising money from retail investors without many of the limitations imposed by the Chapter 6D regime.

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Crowd-funding extended to proprietary companies

In March this year, after a number of false starts, the Corporations Amendment (Crowd-sourced Funding) Act 2017 proceeded to Royal Assent and is set to become law in late September this year. The Act, while a major breakthrough for crowd- sourced funding (CSF) in Australia, has been criticised for its limitations. You can find our update on this topic here.

Just two months later, as part of the 2017-18 Budget, the Federal Government has released for circulation draft legislation aimed at overcoming some of those criticisms.

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