More companies could now be eligible for crowd-sourced
funding - or could they?
The Government has for the second time, introduced legislation
to regulate crowd-sourced funding (CSF) in
Australia after the 2015 Bill was blocked by the Senate earlier
this year - but little appears to have changed.
The new Corporations Amendment (Crowd-sourced Funding) Bill 2016
remains largely the same (
go here for a more in-depth analysis of the proposed
legislation). Two notable changes however are:
$25m assets or annual turnover cap
Under the new Bill, unlisted public companies with less than $25
million of gross assets or $25 million annual turnover will be able
access the scheme - a significant increase from the $5 million cap
previously proposed. A larger pool of small and early-stage
companies could therefore be eligible for CSF.
