MARQ Trustees writes about a recent Victorian Court of Appeal decision which confirmed the State Revenue Office’s assessment of (stamp) duty on an aggregated basis. It’s a stark reminder to always get expert advice when structuring a property purchase and fund raising. 

MARQ Trustees write about a NSW criminal conviction serving as a reminder about the consequences of acting without an AFSL.

As AFS licensees, we are required to meet strict financial guidelines as set out in the Corporations Act 2001.

The transaction steps and documents required for your fund will depend on many factors.

A fund that is a unit trust is generally treated as a flow through vehicle for taxation purposes unless it is characterised as a ‘public trading trust’.

The right to offer an investment in a fund may be restricted in certain countries.

A Product Disclosure Statement (PDS) is a document required under the Corporations Act 2001 to be issued to prospective investors which must contain sufficient information so that a retail investor may make an informed decision about whether to invest.

Generally, it is easier and cheaper to structure and promote a fund as an unregistered fund compared to a registered fund.

There are several key issues that make it undesirable to use a company structure to raise private capital. Each stems from the way companies are regulated through the Corporations Act 2001.

The terms “fund,” “syndicate,” “club investment” and various other terms all refer to the same concept defined under the Corporations Act 2001 as a “managed investment scheme.”

The key to an AFSL requirement centres on the words: ‘Carrying on a financial services business’.

An authorised representative is an individual or entity that acts on behalf of an Australian financial services licensee (AFSL) to provide financial services to clients.

Usually, yes. The financial services rules were introduced to regulate the raising of money and promote transparency and accountability in financial transactions. They generally apply to anyone who is raising money by whatever means.

WHAT IS AN AFSL? AFSL stands for Australian Financial Services License. It is a license issued by the Australian Securities and Investments Commission (ASIC) that allows a company to carry on a financial services business in Australia. WHO NEEDS TO HAVE AN AFSL? AFSL stands for Australian Financial Services License. It is a license issued […]

AFSL Australian Financial Services Licence ASIC Australian Securities & Investments Commission Authorised Representative A person or entity that has been authorised by the holder of an AFSL to provide Financial Services. Constitution A document governing the operation of the Managed Investment Scheme Custodian An entity of some substance that holds the assets of the Managed Investment Scheme. Dealing in a […]