Document ID: chunk:federal_register_of_legislation:F2023C00116:body:0:p1
Version: federal_register_of_legislation:F2023C00116
Segment Type: other
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Character Range: 0–2780

ASIC Class Order [CO 14/1001]

About this compilation

Compilation No. 3

This is a compilation of ASIC Class Order [CO 14/1001] as in force on 20 December 2022. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information
about amending instruments and the amendment history of each amended provision.

Australian Securities and Investments Commission
Corporations Act 2001 – Subsections 283GA(1), 601QA(1), 741(1), 926A(2),
992B(1) and 1020F(1) and paragraph 911A(2)(l) – Exemptions and Declaration

Enabling legislation

    1. The Australian Securities and Investments Commission (ASIC) makes this instrument under subsections 283GA(1), 601QA(1), 741(1), 926A(2), 992B(1) and 1020F(1) and paragraph 911A(2)(l) of the Corporations Act 2001 (the Act).

Title

    2. This instrument is ASIC Class Order [CO 14/1001].

Object

    4. The object of this instrument is to facilitate the making of offers of financial products of an unlisted body by the body or a wholly-owned subsidiary of the body to persons under an arrangement that is designed to support interdependence between the body and those persons for their long-term mutual benefit.

    Disclosure relief

    Offers made under an employee incentive scheme

    5. An unlisted body or a wholly-owned subsidiary of the body that makes an offer under an employee incentive scheme covered by this instrument does not have to comply with Part 6D.2, 6D.3 or Part 7.9 of the Act in relation to the offer, provided the offer is made before 1 March 2023 and is only capable of acceptance until 1 April 2024.

    6. A trustee that holds or will hold underlying eligible products in connection with an employee incentive scheme covered by this instrument and which makes an offer of a unit in the underlying eligible product to an eligible participant does not have to comply with Part 6D.2, 6D.3 or Part 7.9 of the Act in relation to the offer of the unit, provided the offer is made before 1 March 2023 and is only capable of acceptance until 1 April 2024.

       Note: The trustee need not be the unlisted body or a wholly-owned subsidiary of the body.

    Continuing offers

    6A. For the purposes of paragraphs 5 and 6, if an offer is made on a continuing basis, the date that the offer is made is the date that the offer is first made.

Subsequent sale offers

    7. A person that makes a sale offer of an underlying eligible product within 12 months after the issue of the product does not have to comply with Part 6D.2, 6D.3 or Part 7.9 of the Act in relation to the sale offer where:

       (a) the product was issued