All Topics / Help Needed! / ASIC LEGISLATION

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  • Profile photo of MIKALAMIKALA
    Member
    @mikala
    Join Date: 2005
    Post Count: 64
    October 22, 2005 - 9:03 pm

    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
    Join Date: 2005
    Post Count: 109
    October 23, 2005 - 2:38 am

    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
    Join Date: 2005
    Post Count: 64
    October 23, 2005 - 8:51 pm

    Thanks for your reply Hellman…

    Cheers

    MIKALA

    Profile photo of wealth4life.comwealth4life.com
    Member
    @wealth4life.com
    Join Date: 2003
    Post Count: 1,248
    October 24, 2005 - 12:27 am

    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

Viewing 4 posts - 1 through 4 (of 4 total)

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