The internet and the law

Crowd funding is an appeal for money via a web- based crowd-funding platform.

There is no law that prohibits crowd funding; however, it is worth considering what prizes or inducements are being offered in exchange for the donations being sought. For instance, it may be an infringement of the Corporations Act 2001 (Cth) to offer a revenue share in a particular project. ASIC have guidelines on crowd funding (available at www. asic.gov.au).