Document ID: chunk:federal_register_of_legislation:F2023C00095:body:0:p4
Version: federal_register_of_legislation:F2023C00095
Segment Type: other
Provision Reference: 
Character Range: 7732–10424

paragraphs 25, 26, 27 or 28 (Transitional) of this instrument does not need to give ASIC a notice of reliance.

    17. The body may give ASIC the notice of reliance at any time before the body first relies on this instrument in relation to the particular employee incentive scheme but, in any event, must give ASIC the notice of reliance no later than 1 month after the day the body first relies on this instrument in relation to the particular employee incentive scheme.

    Disclosure

    18. A listed body or an associated body corporate that makes an offer under an employee incentive scheme must ensure that the offer is made in, or is accompanied by, an offer document.

    Offers of overlying eligible products

    18A. A listed body, an associated body corporate or a trustee that makes an offer of an overlying eligible product under an employee incentive scheme must ensure that, if the overlying eligible product is not able to be traded on an eligible financial market, the offer is for no more than nominal monetary consideration.

           Note: This paragraph 18A does not prohibit an offer for more than nominal monetary consideration of an underlying eligible product held or to be held by a trustee under a trust in relation to which the eligible participant acquires or will acquire a unit in the underlying eligible product because it is or will be held by the trustee under the trust.

    5% issue limit

    19. A listed body or an associated body corporate that makes an offer covered by this instrument must, at the time of making the offer, have reasonable grounds to believe that the number of underlying eligible products in a class of underlying eligible products that form part of the issued capital of the listed body that have been or may be issued in any of the circumstances covered by the following paragraphs will not exceed 5% of the total number of underlying eligible products in that class on issue:

       (a) underlying eligible products that may be issued under the offer;

       (b) underlying eligible products issued or that may be issued as a result of offers made at any time during the previous 3 year period under:

           (i) an employee incentive scheme or like scheme of the listed body or an associated body corporate, where offers were covered by this instrument or an individual instrument made by ASIC in terms similar to this instrument; or

           (ii) an employee incentive scheme or employee share scheme of the listed body or an associated body corporate, where the offers were covered by ASIC Class Order [CO 03/184] or an individual instrument made by ASIC in terms similar to that class order.

Trusts

    20.