Project No. 79

In 1981 the Commission received a reference to enquire into and report upon the existing law in Australia as it concerns the issue to, or offer to, the public for subscription or purchase of any 'prescribed interest' within the meaning of s 5(1) and Part IV Division 6 of the Companies (Western Australia) Code, with the object of recommending suitable legislative reform whether within the scope of the companies legislation or not. In considering the foregoing and without limiting the generality thereof, the Attorney General requested that particular attention be paid to the need to facilitate fund-raising schemes which benefit the community, but at the same time, provide adequate safeguards for the investor, having regard to the nature and size of the investment.