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  • Profile photo of MIKALAMIKALA
    Member
    @MIKALA
    Post count: 64

    Hi All,

    Can anyone inform me what the Asic 12/20 legislation is about – I checked out the Asic sight but cannot find ?

    Cheers

    MIKALA

    Profile photo of hellmanhellman
    Member
    @hellman
    Post count: 109

    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.

    Hellman

    Profile photo of MIKALAMIKALA
    Member
    @MIKALA
    Post count: 64

    Thanks for your reply Hellman…

    Cheers

    MIKALA

    Profile photo of wealth4life.comwealth4life.com
    Member
    @wealth4life.com
    Post count: 1,258

    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

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