Guidelines
 Published Date: 08 June 2016

Guidelines on Personal Offers Made Pursuant to the Exemption for Small Offers

Guidance on what constitutes a "personal offer" under the small offer exemption in Part XIII.
Applies to: Dealing in Capital Markets Products , Exempt Capital Markets Services Entity , Securities Crowdfunding , Licensed Financial Adviser , Exempt Financial Adviser , Exempt Financial Adviser Serving up to 30 Accredited Investors , Members of Public , Registered Business Trust
View Document Guidelines on Personal Offers Made Pursuant to the Exemption for Small Offers (1.12 MB)

These guidelines for shares and debentures set out the nature of a personal offer as well as whether a relationship would be considered a “personal offer” under section 272A(1) of the Securities and Futures Act (Cap. 289) .

They cover:

  • Statutory requirements.
  • Policy objective of the small offers exemption.
  • Nature of a personal offer.
  • Relationships that would and would not satisfy the "personal offer" test.
  • Proper records and documentation of offers.