Document ID: chunk:federal_register_of_legislation:F2023C00116:body:0:p6
Version: federal_register_of_legislation:F2023C00116
Segment Type: other
Provision Reference: 
Character Range: 12711–15493

eligible products held on an allocated basis for the specified eligible participant;

           Note: The written records in relation to underlying eligible products held on an allocated basis may take the form of a sub-register administered by or on behalf of the trustee.

       (c) the trustee does not levy any fees or charges for administering the trust that are payable directly by any eligible participant or out of the assets of the trust, other than reasonable disbursements including brokerage and tax levied or incurred in connection with the trust;

       (d) if the trustee is the unlisted body or an associate of the body—the trustee does not, at its own discretion, exercise any voting rights attaching to any of the underlying eligible products that it holds on trust; and

       (e) the trustee, either alone or together with one or more other trustees, does not hold more than 20% of the fully paid ordinary voting shares in the unlisted body calculated by reference to all employee incentive schemes or like schemes of the unlisted body or a wholly-owned subsidiary of the body in relation to which offers were covered by this instrument or an individual instrument made, on or after the commencement of this instrument, by ASIC in terms similar to this instrument.

    Contribution plans not permitted

    21. An unlisted body or a wholly-owned subsidiary of the body that makes an offer under an employee incentive scheme must ensure that the terms of the scheme do not involve a contribution plan.

Loans not permitted

    22. An unlisted body or a wholly-owned subsidiary of the body that makes an offer of an eligible product to an eligible participant under an employee incentive scheme must ensure that the terms of the scheme do not involve a loan to the eligible participant to acquire eligible products.

ASIC power to request documents

    23. A body relying on this instrument must, if requested by ASIC and in accordance with the request, make available to ASIC the offer document and all other accompanying information or documents given to eligible participants in connection with the offer.

    Exclusion

    24. This instrument does not apply to any person to whom ASIC has given, and not withdrawn, a written notice that specifies that the person is excluded from relying on this instrument.

Transitional arrangements

    25. The exemptions made under, and the conditions imposed by, ASIC Class Order [CO 03/184] as in force immediately before the day of its revocation are, with effect from the date of revocation, made under and imposed by this paragraph.

    26. The exemptions made under, and the conditions imposed by, an individual instrument of relief granted by ASIC which is in terms similar to ASIC Class Order [CO 03/184]