Can anyone inform me what the Asic 12/20 legislation is about - I checked out the Asic sight but cannot find ?
It means that an investment canly only have 20 investors before a prospectus must be issued as well as not raising more than $2Mil for the first 12 months.
Thanks for your reply Hellman...
the investors mustb total under 20
Each invester must be personally known by the person raising the money
You are not allowed to advertise to the open market with out a dealers licience
You are not allowed to solicate unsophiscated investors
etc etc resiwealth - knowledge + action = results