Inquiry into Wholesale Investor and Wholesale Client Tests

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On 20 March 2023, the Parliamentary Joint Committee on Corporations and Financial Services commenced an inquiry into the wholesale investor test for offers of securities (Section 708 of Chapter 6D of the Corporations Act 2001) and the wholesale client test for financial products and services (Sections 761G & 761GA of Chapter 7 of the Act) (referred to collectively as ‘the wholesale investor/client tests’).

The committee has called for written submissions by 15 May 2024.

In addition to receiving public submissions (where a submission is published on the inquiry website along with the submitter’s name) the committee is also able to receive submissions on a ‘name withheld’ or confidential basis. Further information to assist in the preparation of submissions is available here

The committee intends to report to the Parliament by the end of 2024.

The above information is taken from the inquiry homepage on the Parliament of Australia website, here.

The Terms of Reference can be found here and public submissions can be viewed here.

The contact details for the committee secretariat are below:

Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3583
Fax: +61 2 6277 5719