Small proprietary companies and crowd sourced funding
The Government says that it is trying to make it easier for small businesses to access the capital they need to grow and thrive by removing obstacles to crowd-sources equity funding.
It has released a consultation paper on the Treasury website on extending crowd-sources equity funding (CSEF) to proprietary companies.
The paper considers transparency and governance obligations for proprietary companies which may be required to protect CSEF investors who do not have any other connections to the company or its management.
It is also reviewing areas of the Corporations Act 2001 which may be unnecessarily restricting the ability of small proprietary companies to raise capital to invest and grow.
In particular, it is reviewing:
- the shareholder limit for proprietary companies; and
- the ‘small scale offerings’ exception to the disclosure requirements.
The following specific areas of the Corporations Act 2001 are also under review:
- the requirement to make an annual solvency resolution;
- the requirement to maintain a share register;
- ways to facilitate the execution of documents; and
- completing and lodging forms with the regulator.
Ref: Media release – Minister for Small Business
Interested in joining our team? Why not apply today?
About Our Traineeships:-
Join the Market Leader in 2016 – Accounting Traineeships
Looking to study a B.Com at University of Newcastle in 2016?
Bottrell Business Consultants are a Multi Award Winning Firm
We have 2016 Traineeships available – work 3 days Study part-time 2 days
Apply now to Tara Skippen on tara@bottrellaccounting.com.au – send resume & cover letter
www.bottrellaccounting.com.au or check us out on Facebook, Twitter, Instagram or LinkedIn
Offices – East Maitland | Newcastle | Sydney | Melbourne | Brisbane | Gold Coast
Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.
The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.
Our group of businesses & links include the following companies (& our websites);-
- Bottrell Accounting & Taxation – Visit out website
- Bottrel Business Consultants Pty Ltd – Visit our website
- Maitland Accounting & Taxation – Visit our website
- East Maitland Accounting Services – Visit our website
- Mobile Bookkeeping & Recruitment – Visit our website
Comments are closed.