On 9 January 2017, the AICD lodged a submission to the Senate Economics Committee on the Corporations Amendment (Crowd-sourced Funding) Bill 2016.
We support the Bill and encourage its prompt passage. While recognising that the Bill will not provide a comprehensive solution for CSEF for all small companies it will provide a good starting point for innovative Australian businesses to access CSEF options and for the development of the CSEF market domestically. In relation to the proposed transitionary arrangements included in the Bill for proprietary limited companies converting to public company status to access CSEF, we offer in the submission some suggestions for improvement to the Bill for the Committee’s consideration.
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