Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For subparagraph 1019D(1)(d)(viii) of the Act, the following circumstances are specified:
(a) the offer mentioned in subsection 1019D(1) of the Act is to:
(i) a professional investor; or
(ii) a person who has net assets of at least the amount specified in regulations made for the purposes of subparagraph 761G(7)(c)(i) of the Act; or
(iii) a person who has gross income for each of the last 2 financial years of at least the amount specified in regulations made for the purposes of subparagraph 761G(7)(c)(ii) of the Act; or
(iv) a business that is not a small business within the meaning of subsection 761G(12) of the Act;
(b) the minimum amount payable for securities on acceptance of the offer by the person to whom the offer is made is at least $500 000;
(c) for a financial product other than securities, the offer for the financial product is for an amount that equals or exceeds the amount specified in regulations made for the purposes of paragraph 761G(7)(a) of the Act.
(2) For paragraph (b), in calculating the amount payable for securities, disregard any amount payable or paid to the extent to which it is to be paid, or was paid, out of money lent by the person offering the securities or an associate of the person offering the securities.