Compliance – Class Order – 02/273
Marketlend Pty Ltd (Marketlend) is primarily a platform for wholesale, sophisticated and professional investors to directly lend to individuals or companies or partnerships and enable investors to sell and buy parts of loans.
Marketlend provides a business introduction service in accordance with ASIC Class Order 02/273 (Class Order) which provides an exemption to the disclosure requirements under section 708 of the Corporations Act (Cth) 2001 (Act).
Subscribers to our website, marketlend.com.au (Website), may come across opportunities in which they would like to invest, however, they may not be considered a ‘Sophisticated’ or ‘Professional’ investor within the meaning of the Act and they would therefore (without the Class Order) be subject to the disclosure requirements of the Act.
The Class Order provides these potential investors and borrowers with the framework in which they are able to raise monies without complying with the disclosure requirements under the Act.
We confirm that:
- 1. we receive an agreed upon fee for providing the business introduction service; and
- 2. neither the Website nor Marketlend is endorsed or approved by ASIC.
We wish to make you aware:
- investment in borrower’s business by way of a loan carries high risks. It is highly speculative and before investing in any loan or part thereof or its securities that relate to it, about which information is given, prospective investors are strongly advised to take appropriate professional advice;
- the information contained in our Website has been prepared by or on behalf of the person who is proposing to issue or sell the securities or scheme interests and neither Marketlend nor the publisher (if any) has undertaken an independent review of the information contained in our Website;
- the information contained in our Website about the proposed business opportunity and the loan is not intended to be the only information on which the investment decision is made and is not a substitute for a disclosure document, product disclosure statement or any other notice that may be required under the Act, as the Act may apply to the investment. Detailed information may be needed to make an investment decision, for example: financial statements; a business plan; information about ownership of intellectual or industrial property; or expert opinions including valuations or auditors’ reports;
- prospective investors should be aware that no established market exists for the trading of any loans that may be offered; and
- the Website is subject to this Class Order.
Marketlend is wholly owned by Tyndall Capital Pty Ltd. Tyndall Capital and its representatives manage the registration of borrowers, investors, originators, and affiliated parties. The information on the Website is presented on the basis that it is received. Tyndall Capital or Marketlend makes no warranty or representation of the accuracy of the data or information on the Website. The issuance and sale of loans or parts of loans by an investor; and the origination, servicing and collection of the principal and interest and other charges payable on the loans are managed by Marketlend or its parent, Tyndall Capital.
Investors to participate on the marketplace lending platform are authorised to offer their notes for sale to other investors through the note trading exchange.
Approved investors can invest in listings and purchase from the loans on the Website or parts of loans that are dependent for the payment received by Marketlend on the corresponding borrower loan described in the listing or part thereof.
Your role as a MarketLend “Lender” is that of a purchaser of loans or parts of loans to a borrower.
An investment by a Lender is the Lender’s commitment to purchase a loan to a borrower, with the proceeds of the sale of the loan used to make or purchase the specific borrower loan or parts thereof described in the listing on which the investment was made.
Your rights and obligations as a MarketLend Lender are set forth in the Terms of Service.
If you have further questions, please feel free to contact us on 02 80066798 or write to us at: Level 14, 179 Elizabeth Street, Sydney NSW 2000