Document ID: chunk:federal_register_of_legislation:F2023C00095:body:0:p8
Version: federal_register_of_legislation:F2023C00095
Segment Type: other
Provision Reference: 
Character Range: 17974–20682

with or without modification, any of the provisions of the class order, are, with effect from the date of revocation of the class order, made under and imposed by this paragraph.

    27. The declaration made by ASIC Class Order [CO 04/671] as it applies to the circumstances specified in Category 1 (employee shares schemes) of Schedule D of the class order as in force immediately before the day of its revocation (or partial revocation as it applies to Category 1 of Schedule D) is, with effect from the date of revocation or partial revocation, made by this paragraph and applies as if the references in Category 1 of Schedule D to class orders or instruments of relief included references to paragraphs 25 and 26 of this instrument.

    28. The relief in paragraph 25, 26 and 27 applies in relation to:

       (a) offers and conduct in respect of an employee share scheme or employee incentive scheme, or like scheme which, as at the day immediately before the day of commencement of this instrument, were covered by ASIC Class Order [CO 03/184] or an individual instrument made by ASIC in terms similar to this instrument or that class order (including, for the avoidance of doubt, in relation to offers made under the employee share scheme, employee incentive scheme, or like scheme, on or after that date); and

       (b) an employee share scheme the terms of which, at any time before the day of commencement of this instrument, had been approved by the listed body including as agreed on in accordance with a resolution of directors or members of the body and under which offers and conduct would have been covered by ASIC Class Order [CO 03/184].

Individual instruments of relief

Trustees

    28A. A trustee that holds or will hold underlying eligible products in connection with an employee incentive scheme covered by an instrument (individual relief instrument) that is not a legislative instrument but which is in terms similar to 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 unit.

    28B. A trustee that advertises, or publishes a statement that is reasonably likely to induce eligible participants to acquire, an eligible product under an employee incentive scheme covered by an instrument (individual relief instrument) that is not a legislative instrument but which is in terms similar to this instrument, does not have to comply with section 1018A of the Act in relation to the advertisement or publication.

    28C. A trustee that operates a managed investment scheme only by reason of operating a contribution plan