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CFP-1.6.2

Crowdfunding platform operators must ensure that the terms and conditions for the arrangements between the relevant parties to the crowdfunding offer are legally enforceable. Such terms must include the following details:

(a) For financing-based crowdfunding offers, details of the borrowing, tenor, terms of repayment, the nature and frequency of reporting of performance by the borrower to the lender;
(b) For equity-based crowdfunding offers, the amount of shares offered, the nature of the shares, and the price;
(c) The duties, rights and obligations of the crowdfunding platform operator, borrower/issuer and lender/investor, including legal remedies.
Added: April 2022