Corporations Amendment (Crowd-sourced Funding) Act 2017 (17 of 2017)

Schedule 1   Main amendments

Part 1   Amendment of the Corporations Act 2001

Corporations Act 2001

6   Section 611 (table items 12 and 13)

Repeal the items, substitute:

 

Initial public offering (IPO) fundraising

12

An acquisition that results from an issue, under a disclosure document or a CSF offer document, of securities in the company in which the acquisition is made if:

(a) the issue is to a promoter; and

(b) the document disclosed the effect that the acquisition would have on the promoter's voting power in the company; and

 

Underwriting of fundraising

13

An acquisition that results from an issue, under a disclosure document or a CSF offer document, of securities in the company in which the acquisition is made if:

(a) the issue is to a person as underwriter to the issue or sub-underwriter; and

(b) the document disclosed the effect that the acquisition would have on the person's voting power in the company.