Section 766F — Corporations Act 2001: Meaning of crowd-funding service

Meaning of provides a crowd-funding service (1) A person provides a crowd-funding service if: (a) a CSF offer document for a CSF offer of securities of a company is published on a platform operated by the person; and (b) applications may be made to the person for the issue, by the company, of securities pursuant to the offer. Note: CSF offers are dealt with in Part 6D.3A (Crowd-sourced funding). (2) The financial service constituted by providing a crowd-funding service is taken to include (in addition to the matters mentioned in subsection (1)), performing all other aspects of the role of a CSF intermediary under Part 6D.3A. To whom, and when, a crowd-funding service is provided (3) A person who uses the application facility for the CSF offer to make an application pursuant to the offer is a person to whom the crowd-funding service is provided. The time at which the crowd-funding service is provided to the person is the time when the person first uses the application facility to make an application pursuant to the offer. Note: For the meaning of application facility, see subsection 738ZA(3). (4) The company making the CSF offer is a person to whom the crowd-funding service is provided. The time at which the crowd-funding service is provided to the company is the time when the company enters into the hosting arrangement for the offer. Note: For the meaning of hosting arrangement, see subsection 738L(2).