Crowd-Sourced Funding Update
ASIC has indicated that the first of the intermediary appointments should be finalised by around the end of October 2017.
If a proprietary limited company wishes to convert to an unlisted public company, so as to take advantage of the Crowd-Sourced Funding legislation, the company will need to lodge a Form 206 "Application for Change of Company Type".
ASIC is required under the Corporations Act to publish a notice in the ASIC Gazette stating it intends to alter the details of the company registration.
One month after the notice is published, the change of company type will take place. Read more…