CORPORATIONS REGULATIONS 2001 - REG 6D.2.03 Sophisticated investors

CORPORATIONS REGULATIONS 2001 - REG 6D.2.03

  (1)   For subparagraph   708(8)(c)(i) of the Act, $2.5 million is specified.

  (2)   For subparagraph   708(8)(c)(ii) of the Act, $250   000 is specified.

Note:   Under subsection   708(8) of the Act, an offer of a body's securities does not need disclosure to investors under Part   6D.2 of the Act if it appears from a certificate given by a qualified accountant no more than 6 months before the offer is made that the person to whom the offer is made:

(a)   has net assets of at least the amount specified in regulations made for the purposes of subparagraph   708(8)(c)(i); or

(b)   has a gross income for each of the last 2 financial years of at least the amount specified in regulations made for the purposes of subparagraph   708(8)(c)(ii).