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ARTICLE · 25 JUNE 2017

Crowd-sourced funding to be extended to include proprietary companies

Pointon Partners
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The Federal Government pursuant to its 2017 Budget intends to extend the legislative framework for crowd-sourced funding.

AustraliaFinance and Banking
Michael Bishop
Michael Bishop
Jess Tomlinson
Jess Tomlinson
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The Federal Government pursuant to its 2017 Budget intends to extend the legislative framework for crowd-sourced funding (CSF) by introducing a new Crowd-Sourced Equity Framework regime for proprietary companies.[1]

Currently, the Corporations Amendment (Crowd-sourced Funding) Act 2017 (the CAA)[2], which comes into force on 29 September 2017, only creates a CSF framework for public companies.[3]

However, it is the view of the Government that enabling proprietary companies' access to a new funding source by extending CSF to proprietary companies will "enable small and innovative business types more alternatives to raise capital and easier access to such capital.[4]

What is CSF?

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