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All Topics / Help Needed! / ASIC LEGISLATION
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
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
Thanks for your reply Hellman…
Cheers
MIKALA
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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