An investor is classified as ‘wholesale’ under Chapter 7 of the Corporations Act 2001 (Cth) if the investor meets one or more of the following criteria:

• The investor is a Sophisticated Investor.

  The investor provides a Qualified Accountant’s Certificate that is not more than 2 years old, stating that:

  • the investor has net assets of AUD $2.5 million (including net assets of any company or trust you control); or
  • the investor has a gross income of at least AUD $250,000 per annum in each of the last 2 financial years (including gross income of any company or trust controlled by the investor).

• The investor invests AUD $500,000 or greater in a single offer (excluding superannuation monies).

• The investor is a company or trust controlled by a person who has a Qualified Accountant’s Certificate per paragraph 1.

• The investor is a Professional Investor.

  This means that the investor falls under one of the following categories:

  • an Australian Financial Services licensee;
  • a person who has or controls gross assets of at least AUD $10 million (including any assets held by an associate or under a trust that the investor manages);
  • a body regulated by APRA, other than a trustee of a superannuation fund, an approved deposit fund, a pooled superannuation fund or a public superannuation scheme;
  • a body registered under the Financial Corporations Act 1974 (Cth);
  • a trustee of a superannuation fund, an approved deposit fund, a pooled superannuation fund or a public sector superannuation scheme where that fund, trust, or scheme has net assets of at least AUD $10 million;
  • a listed entity or a related body corporate of a listed entity;
  • an exempt public authority;
  • a body corporate or unincorporated body which:
    • carries on the business of investing in financial products, interests in land or other investments; and
    • which invests funds received (directly or indirectly) following offers or invitations to the public;
  • a foreign entity that, if established or incorporated in Australia, would be covered by one of the preceding points under paragraph 4 (i.e., Professional Investor).

• The investor is a related body corporate of another body corporate which is a Wholesale Investor.

• The investor is a business which is not a small business.

  The financial product or service is provided for use in connection with a business that is not a small business. A small business is one that employs less than 100 employees if that business is or includes the manufacture of goods, or otherwise is a business which employs less than 20 people.

• The Trustee, Non Correlated Capital Pty Ltd (AFSL #499882, ABN 99 143 882 562), being the financial service licensee, is satisfied that the investor has previous investing experience in using financial services and investing in financial products.

  The Trustee will need to have provided investors relying on this with a written statement to this effect.