AFSA NOTICE № AFSA-N-NB-2022-0006 ON CLASS MODIFICATION IN RESPECT OF PERSONS ALLOWED TO USE THE SERVICE OF AUTHORISED CROWDFUNDING PLATFORMS

NOTICE No. AFSA-N-NB-2022-0006

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Rule specified in the left-hand column of the Table below is modified to the extent shown in the right-hand column of the Table and applies to Authorised Crowdfunding Platforms in respect of Persons allowed to use the service of Authorised Crowdfunding Platforms.

TABLE – RULE MODIFIED

The Rule specified in the left-hand column of the Table below is modified to the extent shown in the right-hand column of the Table. In this Table, underlining indicates the new text, otherwise the Rule remains unaltered.

AIFC Act	Modified Text
AIFC Authorised Market Institution Rules 7.3.6 Due diligence on Borrowers or Issuers	7.3.6 Due diligence on Borrowers or Issuers (1) An Authorised Crowdfunding Platform must not permit a Borrower or Issuer to use its service unless the Borrower or Issuer is a Body Corporate or a sole proprietor. Criteria for a sole proprietor shall be provided for in the internal rules of the Authorised Crowdfunding Platform and should be agreed with the AFSA. …

CONDITIONS

None.

EFFECTIVE PERIOD

This notice comes into effect on the date of publishing and remains in force until further notice.

INTERPRETATION

Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the AIFC Glossary. Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

THIS NOTICE IS ISSUED PURSUANT TO SECTION 9 OF THE ASTANA INTERNATIONAL FINANCIAL CENTRE FINANCIAL SERVICES FRAMEWORK REGULATIONS BY THE ASTANA FINANCIAL SERVICES AUTHORITY.