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CIR 2.1.19

An arrangement does not constitute a Collective Investment Fund if all of the following conditions are met:

(a) the arrangement is entered into using a Loan Crowdfunding Platform, operated by a Crowdfunding Operator;
(b) the arrangement involves multiple lenders providing a loan to a borrower for a business or project;
(c) all of the lenders are Clients of the Crowdfunding Operator;
(d) the amount of the loan, the rate of return and the repayment period are fixed when the loan agreement is entered into; and
(e) the total funding provided by all lenders to the borrower is not more than $5 million or an equivalent amount in another currency.
Derived from RM255/2019 (Made 26th July 2019). [VER25/07-19]