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By Andrii Zamovsky

updated 10 months ago

Subsection 708(8) of the Corporations Act 2001 is found in Chapter 6D (Fundraising). It defines "sophisticated investor" so as to exclude them from certain disclosure requirements: http://www6.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ca2001172/s708.html

User needs to confirm Sophisticated Investor status to purchase security tokens.

Requirements

To meet the criteria of a "Sophisticated Investor" an investor must have a qualified accountant issue a certificate stating that an individual meets the following: the investor has net assets of at least $2.5 million, or a gross income for each of the last 2 financial years of at least $250,000.

Document requirements

Certified letter from a qualified accountant attesting to either a or b, issued no more than 6 months before purchase.

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