ESMA_QA_811
16/12/2022
Subject Matter
General provisions
Original question
Should the total consideration of offers made by the project owner pursuant to an exemption under Regulation (EU) 2017/1129 other than those under Articles 1(3) and 3(2) of that Regulation be taken in consideration for the purpose of the calculation of the threshold set out in point (c) of Article 1(2) of the ECSPR?
ESMA Answer
16-12-2022
Original language
(Published as Crowdfunding Q&A 3.13)
No. Only the consideration of offers made pursuant to the two exemptions referred to in point (ii) of point (c) of Article 1(2) of the ECSPR (i.e., Article 1(3) and 3(2) of Regulation (EU) 2017/1129) shall be taken into account for this calculation (together with the total consideration of offers as described in point (i) of point (c) of Article 1(2) of the ECSPR). The consideration of offers made under other exemptions under Regulation (EU) 2017/1129 should not be taken into account.
Status: Answer Published
Additional Information
Level 1 Regulation
Regulation 2020/1503 - European crowdfunding service providers for business
Additional Legal Reference
Article 1(2) ECSPR
Topic
Underwriting and placing