Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Before Reps
Parliament no
45

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Summary

Amends the Corporations Act 2001 to: extend the crowd-sourced funding (CSF) framework for public companies to eligible proprietary companies, subject to additional reporting requirements and accountability standards; provide that proprietary companies with shareholders who acquire shares through a CSF offer are not subject to the takeovers rules; introduce special investor protections for proprietary companies accessing the CSF regime; and remove the temporary corporate governance concessions for proprietary companies that convert to or register as public companies to access the CSF regime.

Progress

House of Representatives
Introduced and read a first time 14 Sep 2017
Second reading moved 14 Sep 2017

Documents and transcripts

Text of bill

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Explanatory memoranda

Word Format PDF Format HTML Format

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.