Article 4
Choice of terms in the key investment information sheet model
Where the key investment information sheet model laid down in the Annex enables a choice of terms or expressions, such choice shall be made as follows:
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(a) |
the expressions ‘target capital’ or ‘capital raising’ shall be used for crowdfunding offers relating to equity transferable securities or admitted instruments for crowdfunding purposes; |
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(b) |
the expressions ‘target funds’ or ‘funds borrowing’ shall be used for crowdfunding offers relating to loans, non-equity transferable securities or hybrid instruments; |
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(c) |
the terms ‘transferable securities’ or ‘admitted instruments for crowdfunding purposes’ shall be used in accordance with the type of instruments offered. |