Where shares or debentures are issued, the Corporations Act comes into play to generally require a prospectus or other disclosure document (with content requirements).
There are exemptions available depending on the circumstances.
On one hand, an exemption from the disclosure requirement is available for “small-scale offerings” of securities. The exemption in relation to disclosure does not necessarily mean the entity will be exempted from holding an Australian Financial Services Licence (AFSL). Read more about the requirement to hold an AFSL here.
There will be a breach of the 20 investors ceiling test (item 1 above) if the offering “results in the number of people to whom securities of the body have been issued exceeding 20 in any 12 month period”.
There will be a breach of the $2 million ceiling test (item 2 above) if the offering “results in the amount raised by the body by issuing securities exceeding $2 million in any 12 month period”.
To meet the “personal offers” test under the Corporations Act (item 3 above) the offer must:
Sophie Grace can provide you with an AML/CTF Program and can assist you to tailor it to your business’ needs. We have three different options available to suit your business and finance needs.
You can purchase template documents from our online shop. The template is an instant download and includes prompts to help you tailor the document yourself. We have template documents for:
Sign up to the Compliance Portal and receive the template AML/CTF Program Package, and obtain access to updated documents in light of any updates we make as new guidance or amended legislation is released. Choose between:
Sophie Grace can assist you to prepare the AML/CTF Program package based on your business’ specific requirements. Contact us to discuss further.
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