Tiger is the director of a proprietary limited company called Tiger Top Flyte Pty Ltd. Tiger Top Flyte Pty Ltd is in need of funding to market and develop a revolutionary new golf ball in Australia.

Tiger approaches you about whether his company can issue debentures to raise funds from investors for the venture.

Tiger tells you he requires about $7,000,000 to market and develop the balls.

He also doesn't want to spend too much on legal fees.

1. Advise Tiger what statutory limitations are placed on the 'type' of company to be used in respect of issuing debentures to raise the necessary funds.
2. Advise Tiger which statutory exemptions he could make use of to enable his company to issue debentures.
3. Assuming now that Tiger converts his company to an unlisted public company, advise Tiger on the types of 'disclosure documents' he could use for the purpose of offering debentures and which 'disclosure document' may be preferable given his funding needs.
4. Considering what Tiger wants to do. If this transaction did not involve debentures but rather units in a trust, could the transaction be considered a 'managed investment scheme'?