Sophisticated investors either earn more than $250,000 a year for past two years or have $2.5 million in net assets. This must be certified by a qualified accountant. Issues to SIs do not need a prospectus.
http://www.asic.gov.au/asic/asic.nsf/byheadline/Certificates issued by a qualified accountant
Sophisticated investors either earn more than $250,000 a year...
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