Disclosure Statement

How to use the disclosure statement drafting tool

The drafting tool provides guidance and instructions about what to include in your disclosure statement for an offer of debentures.

There are no regulatory guides published by Registrars for disclosure statements relating to offers of securities under the CNL or the Co-operatives Act 2009 WA.

In the absence of any guide, the disclosure statement drafting tool has been designed to include both material required by the legislation and what may be reasonably required by the Registrar for an offer of this nature.

Regulatory guides, prepared for similar offers of securities by companies, provide useful information for drafting disclosure statements for co-operatives.

Useful ASIC regulatory guides are linked below.

• Regulatory Guide 228 – Prospectuses: Effective disclosure for retail investors
• Regulatory Guide 254 – Offering securities under a disclosure document
• Regulatory Guide 261 – Crowd-sourced funding: Guide for companies

The information you provide in the disclosure statement must be sufficient to enable a person to make a decision about whether to invest. The information must not contain or omit material that would make the disclosure misleading. There are penalties for publishing a misleading disclosure statement. The co-operative, and those involved in the preparation of the disclosure statement, are liable to pay damages to investors if the information is found to be misleading.

The drafting tool creates a MS Word format document. This format allows you to make changes and add attachments during drafting, or if required by the Registrar.

The Capital Builder tool will not accommodate formatting for paragraphs, lists and tables. Information inserted in text boxes will lose any format. When you download your disclosure document and check it for accuracy you will need to adjust any required formatting. If you intend to insert a table then you can insert after downloading.

Saving your document

Enter your email to begin. We will email you a document access link, allowing you to complete your document over multiple sittings. Your progress will be saved for up to 30 days from the start date, and can be accessed via the link emailed to you.

You will need to answer questions in the Capital Builder tool. After downloading your completed document, you will also need to review the editable Microsoft Word document and complete any remaining sections marked in red.

The emailed link only provides access to documents still in draft mode and cannot be used to access completed documents.

Once a document is complete, you must download it directly from the webpage in editable Microsoft Word format.

Note that the guidance and instructions in the drafting tool are not intended as legal or financial advice.

The Capital Builder stores your documents on the Care Together website form builder for 30 days. If you do not wish to enter information, data or other material into your document because it is of a confidential nature, then you should only insert that information after you have downloaded your document and saved it to your own computer.

Data about the number of users and completed documents that does not identify any user will be retained for purposes of updating or improving the Capital Builder.