Financial Markets Conduct (Small Co-operatives) Exemption Notice 2021

Summary: 

The Financial Markets Conduct (Small Co-operatives) Exemption Notice 2021 replaces the Financial Markets Conduct (Small Co-operatives) Exemption Notice 2016 that expires on 22 December 2021.

The exemption continues relief for a further one-year for issuers of shares in small co-operatives and industrial and provident societies from disclosure, register and record-keeping, and financial and auditing requirements under the FMC Act where the aggregate per shareholder capital investment is less than $5,000. Issuers with revenue of $2 million or less for relevant accounting periods also remain exempt from FMC Act financial reporting and auditing requirements.