Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 766F

Meaning of provides a crowd - funding service

  (1)   A person provides a crowd - funding service if:

  (a)   a CSF offer document for a CSF offer of securities of a company is published on a platform operated by the person; and

  (b)   applications may be made to the person for the issue, by the company, of securities pursuant to the offer.

Note:   CSF offers are dealt with in Part   6D.3A (Crowd - sourced funding).

  (2)   The financial service constituted by providing a crowd - funding service is taken to include (in addition to the matters mentioned in subsection   (1)), performing all other aspects of the role of a CSF intermediary under Part   6D.3A.

To whom, and when, a crowd - funding service is provided

  (3)   A person who uses the application facility for the CSF offer to make an application pursuant to the offer is a person to whom the crowd - funding service is provided. The time at which the crowd - funding service is provided to the person is the time when the person first uses the application facility to make an application pursuant to the offer.

Note:   For the meaning of application facility , see subsection   738ZA(3).

  (4)   The company making the CSF offer is a person to whom the crowd - funding service is provided. The time at which the crowd - funding service is provided to the company is the time when the company enters into the hosting arrangement for the offer.

Note:   For the meaning of hosting arrangement , see subsection   738L(2).