Document ID: chunk:federal_register_of_legislation:C2025C00185:section:766f
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 766F
Character Range: 3045297–3046771

766F  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).