Document ID: chunk:federal_register_of_legislation:F2023C00116:body:0:p2
Version: federal_register_of_legislation:F2023C00116
Segment Type: other
Provision Reference: 
Character Range: 2562–5376

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 or otherwise granted:

           (i) to an eligible participant under an employee incentive scheme; or

           (ii) to a trustee in connection with an employee incentive scheme; and

       (b) the person has no reason to believe the employee incentive scheme is not covered by this instrument.

    8. A person that makes a sale offer of a financial 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 by reason of the exercise or vesting of an eligible product issued or otherwise granted to:

           (i) an eligible participant under an employee incentive scheme; or

           (ii) to a trustee in connection with an employee incentive scheme; and

       (b) the person has no reason to believe the employee incentive scheme is not covered by this instrument.

Advisers

    9. A financial services licensee or an authorised representative of a financial services licensee who gives financial product advice to an eligible participant that consists of, or includes, a recommendation to acquire an eligible product in connection with an employee incentive scheme, does not have to comply with section 1012A of the Act in relation to the giving of such advice, provided the person giving the advice has no reason to believe the employee incentive scheme is not covered by this instrument.

Licensing, hawking and other incidental relief

General advice

    10. An unlisted body or a wholly-owned subsidiary of the body that makes an offer under an employee incentive scheme covered by this instrument and, in relation to the offer, provides a financial service consisting of general advice in connection with the offer, does not have to comply with subsection 911A(1) of the Act in relation to the advice.

Dealing

    11. An unlisted body or a wholly-owned subsidiary of the body that provides any of the following financial services in relation to an offer in connection with an employee incentive scheme covered by this instrument does not have to comply with subsection 911A(1) of the Act in relation to the financial service:

       (a) issuing the eligible product;

       (b) dealing in the eligible product where any acquisition by purchase or disposal of the eligible product by the unlisted body or a wholly-owned subsidiary of the body occurs either:

          (i) through a financial services licensee; or

          (ii) outside this jurisdiction and through a person which is licensed or otherwise authorised to deal in