Corporations Act 2001

CHAPTER 6D - FUNDRAISING  

PART 6D.3A - CROWD-SOURCED FUNDING  

Division 4 - Defective etc. CSF offer documents  

SECTION 738U   MEANING OF DEFECTIVE  

738U(1)    
A CSF offer document is defective if:

(a)    the CSF offer document contains a misleading or deceptive statement; or

(b)    there is an omission from the CSF offer document of information required by section 738J ; or

(c)    since the document was first published on a platform of a CSF intermediary, a new circumstance has arisen that would have been required by section 738J to be included in the document if it had arisen before the document was so published.

738U(2)    
For the purposes of this section, a person is taken to make a misleading statement about a future matter (including the doing of, or refusing to do, an act) if the person does not have reasonable grounds for making the statement. This subsection does not limit the meaning of a reference to a misleading statement.