CORPORATIONS ACT 2001

CHAPTER 6D - FUNDRAISING  

PART 6D.3A - CROWD-SOURCED FUNDING  

Division 3 - Making offers under this Part  

SECTION 738M   CONSENTS NEEDED FOR PUBLICATION OF CSF OFFER DOCUMENT  

738M(1)  
The company making a CSF offer must not arrange for a CSF offer document to be published on a platform of a CSF intermediary unless each of the following persons has consented in writing to the publication of that CSF offer document on a platform of that CSF intermediary:

(a) each director of the company;

(b) each person named in the CSF offer document as a proposed director of the company.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

738M(2)  
If the CSF offer document for a CSF offer includes a statement by a person, or a statement said in the document to be based on a statement by a person, the company making the offer must not arrange for the document to be published on a platform of a CSF intermediary unless:

(a) the person has consented in writing to the statement being included in the document in the form and context in which it is included; and

(b) the document states that the person has given this consent; and

(c) the person has not withdrawn this consent before the company arranges for the document to be published on a platform of that CSF intermediary.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

738M(3)  
A company that makes a CSF offer must keep a consent required by subsection (1) or (2) for 7 years after the consent was given.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

738M(4)  
An offence based on subsection (1), (2) or (3) is an offence of strict liability.