This is a project-control checklist, not legal advice or a statement that any regulatory route has been approved.
Obtain written determination of the legal character of the latent arrangement and the eventual funded debt instrument.
Determine and document the final legal personality, powers, approvals, governance authority and authorised signatories through which IBIS could lawfully issue or administer any future funded instrument.
Determine how website, certificate, advertising and communications may lawfully invite or induce participation.
Determine whether the intended offering falls within the applicable UK public-offer regime, an exemption, or another permitted route.
Determine whether and on what conditions the instrument may be offered to the general public, including any restrictions on high-risk investments.
Fix principal, return, maturity, redemption, ranking, security, transfer, default, cancellation, governing law and dispute provisions.
Determine identity, screening, source-of-funds and recordkeeping obligations at the point they legally arise.
Define lawful basis, privacy notices, retention, security, subject rights and separation between public coded data and private identity data.
Determine the tax treatment of the final operational authority and bondholders, including withholding/reporting obligations and treatment of any return.
Determine recognition of funded liabilities and ensure latent face value is not misreported as cash or funded debt.
Approve banking/payment architecture, reconciliation, segregation and controls before accepting any money.
Prepare balanced disclosure covering loss of capital, delay, insufficient revenues, insolvency, regulation, fraud and other material risks.