Chapter 1 - Introduction and overview of the bill

[1]        Journals of the Senate, No. 23—1 December 2016, p. 752.

[2]        Corporations and Markets Advisory Committee (CAMAC), Crowd sourced equity funding, May 2014, p. 1.

[3]        Senate Economics Legislation Committee, Corporations Amendment (Crowd-sourced funding) Bill 2015 [Provisions], 1 March 2016.

[4]        Corporations Amendment (Crowd-sourced Funding) Bill 2015 https://www.aph.gov.au/Parliamentary_Business/Bills_LEGislation/Bills_Search_Results/Result?bId=r5588 (accessed 2 February 2017).

[5]        Senate Economics Legislation Committee, Corporations Amendment (Crowd-sourced funding) Bill 2015 [Provisions], 1 March 2016.

[6]        Explanatory Memorandum, Corporations Amendment (Crowd-sourced Funding) Bill 2016 (hereafter 'Explanatory Memorandum), p. 7.

[7]        Explanatory Memorandum, p. 3.

[8]        Explanatory Memorandum, p. 10.

[9]        Explanatory Memorandum, p. 8.

[10]      See http://www.business.gov.au/small-business/Pages/jobs-and-small-business-package.aspx (accessed 2 February 2017).

[11]      Explanatory Memorandum, p. 3.

[12]      Explanatory Memorandum, paragraph 9.65.

[13]      See http://fintech.treasury.gov.au/files/2016/03/Fintech-March-2016-v3.pdf (accessed 7 February 2017).

[14]      Explanatory Memorandum, paragraph 9.139.

[15]      Explanatory Memorandum, p. 4.

[16]      Explanatory Memorandum, paragraph 9.7.

[17]      Senate Standing Committee for the Scrutiny of Bills, Alert Digest No. 10 of 2016, 30 November 2016, pp. 2–3.  

[18]      Senate Standing Committee for the Scrutiny of Bills, Scrutiny Digest 1 of 2017, 8 February 2017, p. 53.

[19]      Senate Standing Committee for the Scrutiny of Bills, Scrutiny Digest 1 of 2017, 8 February 2017, p. 53.

[20]      Explanatory Memorandum, pp. 4–5.

[21]      Explanatory Memorandum, paragraph 9.129.

[22]      Explanatory Memorandum, paragraph 10.11.

[23]      Parliamentary Joint Committee on Human Rights, Human rights scrutiny report, Report 10 of 2016 , 30 November 2016, p. 8.

Chapter 2 - Main issues

[1]        Senate Economics Legislation Committee, Corporations Amendment (Crowd-sourced funding) Bill 2015 [Provisions], 1 March 2016, Chapter 3.

[2]        Explanatory Memorandum, pp. 13–16.

[3]        Subsection 738(H)(1), Corporations Amendment (Crowd-sourced Funding) Bill 2015.

[4]        Explanatory Memorandum, paragraph 2.20.

[5]        Explanatory Memorandum, paragraph 2.22.

[6]        Explanatory Memorandum , paragraph 2.24.

[7]        Subsection 738(H)(2), Corporations Amendment (Crowd-sourced Funding) Bill 2016.

[8]        House of Representatives, Hansard, 24 November 2016, p. 4307.

[9]        Australian Small Scale Offerings Board (ASSOB), Submission 9, p. 3.

[10]      Chartered Accountants Australia and New Zealand, Submission 3, p. 1.

[11]      Chartered Accountants Australia and New Zealand, Submission 3, p. 1.

[12]      Fat Hen Ventures, Submission 6, p. 3.

[13]      Fat Hen Ventures, Submission 6, p. 4.

[14]      Australian Small Scale Offerings Board (ASSOB), Submission 9, p. 3.

[15]      Explanatory Memorandum paragraph 2.25.

[16]      BDO Australia, Submission 5, p. 2.

[17]      House of Representatives, Hansard, 24  November 2016, p. 4306.

[18]      Explanatory Memorandum, paragraph 1.9.

[19]      Illiquid refers to the state of a security or other asset that cannot easily be sold or exchanged for cash without a substantial loss in value.

[20]      Australian Small Business and Family Enterprise Ombudsman, Submission 10, pp. 1–2.

[21]      Explanatory Memorandum, paragraph 9.101.

[22]      Chartered Accountants Australia and New Zealand, Submission 3, p. 1.

[23]      Fat Hen Ventures, Submission 6, p. 2; Australian Small Scale Offerings Board (ASSOB), Submission 9, p. 1.

[24]      Equitise, Submission 13, p. 2.

[25]      CrowdfundUP, Submission 11, p. 3.

[26]      Equitise, Submission 13, p. 2.

[27]      Explanatory Memorandum, paragraph 9.30.

[28]      Explanatory Memorandum, paragraph 9.70.

[29]      House of Representatives, Hansard, 24  November 2016, p. 4307.

[30]      Business Council of Co-operatives and Mutuals  Submission 16, p. 1; see also Employee Ownership Australia, 17.1 supplementary to submission 17.

[31]      Dr Marina Nehme, Submission 8, p. 2.

[32]      TMeffect, Submission 1, p. 4.

[33]      Live Performance Australia, Submission 4, p. 2.

[34]      Live Performance Australia, Submission 4, p. 2.

[35]      Live Performance Australia, Submission 4, p. 2.

[36]      Australian Small Business and Family Enterprise Ombudsman, Submission 10, p. 3.

[37]      Australian Small Business and Family Enterprise Ombudsman, Submission 10, p. 3.

[38]      Australian Small Business and Family Enterprise Ombudsman, Submission 10, p. 3.

[39]      Fat Hen Ventures, Submission 6, p. 2.

[40]      CrowdfundUP, Submission 11, p. 3.

[41]      Equitise, Submission 13, p. 1.

[42]      CPA Australia, Submission 14, p. 2.

[43]      Dr Marina Nehme, Submission 8, p. 3.

[44]      Dr Marina Nehme, Submission 8, p. 2.

[45]      Dr Marina Nehme, Submission 8, p. 2.

[46]      CPA Australia, Submission 14, p. 2.

[47]      Explanatory Memorandum, paragraph 9.143.

[48]      CPA Australia, Submission 14, p. 2.

[49]      Australian Institute of Company Directors, Submission 15, p. 2.