Document ID: chunk:federal_register_of_legislation:F2021C01046:body:0:p3
Version: federal_register_of_legislation:F2021C01046
Segment Type: other
Provision Reference: 
Character Range: 5458–8204

film, recording, work, or performance), under which every interest in the scheme is issued:
(a)  to a person (participant) as consideration for or as part of the consideration for any of the following:
              (i) personal or professional services to be provided by the participant or, where the participant is not a natural person, by an officer or employee of the participant providing such services in the ordinary course of its business; or
              (ii) the sale or transfer of or grant of any right to use or exploit present or future intellectual property or know-how of the participant resulting from the labour or efforts of the participant or, where the participant is not a natural person, acquired in the ordinary course of its business;
where:
              (iii) no money is to be paid and no financial products are to be transferred by the participant in consideration for the interest or in relation to the grant of the interest, either to the issuer or to any associate of the issuer, unless:
                   (A)  the payment is a fee for services rendered or a reimbursement of incidental expenses; and
                  (B)  the nature of the services or expenses and the applicable cost or means of calculating the applicable cost is separately disclosed to the participant before entering into the contract;
              (iv) any right of the participant under the terms of the contract to terminate the contract or otherwise take action for default is not dependent upon the approval or other action of persons who have entered into similar contracts with the issuer;
              (v) the interest does not relate to any other managed investment scheme; or
(b)  in circumstances, other than because of this instrument, that do not require a Product Disclosure Statement to be given.
work has the meaning given by section 10 of the Copyright Act 1968.

       Part 2—Relief for managed investment schemes

5 Film investment scheme

Exemptions
(1) A person does not have to comply with subsection 601ED(5) of the Act in relation to a film investment scheme.
(2) A person providing financial services in relation to an interest in a film investment scheme does not have to comply with subsection 911A(1) of the Act.
(3) A person does not have to comply with section 992A and Part 7.9 of the Act in relation to an offer, issue or recommendation to acquire an interest in a film investment scheme.

6 Interests not for money scheme

Exemptions
(1) A person does not have to comply with subsection 601ED(5) of the Act in relation to an interests not for money scheme.
(2) A person providing financial services in relation to an interest in an interests not for money scheme does not have to comply with subsection