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QUESTION 3 15 points The three directors of Business Concepts Ltd wish to rane $1 Million from ten of their friends through issuance of shares.

QUESTION 3

15 points

The three directors of "Business Concepts Ltd" wish to rane $1 Million from ten of their friends through issuance of shares. The friends have previously shown interest in vesting in Busness Concepts and the co now wish to make them an offer.

Explain whether they will need to issue a disclosure document and give the relevant provision from the Corporations Act 2001 (City that supports your explanation (10 marks)

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