Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The responsible intermediary for a CSF offer must reject an application made by a person pursuant to the offer if:
(a) the person is a retail client in relation to the offer; and
(b) having regard only to CSF offers for which the intermediary is the responsible intermediary, the application would result in the total amount paid or payable by the person in respect of applications made by the person, in any period of 12 months, pursuant to CSF offers made by the same company, exceeding:
(i) $10,000; or
(ii) if the regulations prescribe a different amount--the prescribed amount.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(2) If 2 or more persons (the joint applicants ) make a joint application for the issue of securities pursuant to a CSF offer, then, unless the regulations provide otherwise, this section applies in relation to the joint application as if each of the joint applicants had instead made a separate application for a number of securities worked out by dividing the number of securities applied for in the joint application by the number of joint applicants.