Commonwealth Consolidated Regulations

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Obligation of CSF intermediary relating to their platforms--applicant risk acknowledgement

             (1)  For the purposes of paragraph 738ZA(3)(b) of the Act, this regulation sets out the requirements for an acknowledgement by a person making an application pursuant to a CSF offer.

             (2)  The following statement must be set out in the acknowledgement:

                   "I have read the CSF offer document. I understand this document is not a prospectus and contains less information than a prospectus.

                   I have read the risk warning and I understand that it contains some of the important information for making a decision about investing. However:

                     (a)  I understand that c rowd-sourced funding is risky and that I may lose my entire investment; and

                     (b)  I confirm that I could bear that loss without suffering undue hardship; and

                     (c)  I understand that I may never be able to sell my shares and the value of my investment may be diluted over time.

                   I am aware that I can use the communication facility to ask questions and that there is a 5 business day cooling off period in relation to this investment.".

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