Document ID: chunk:federal_register_of_legislation:F2022L01274:body:0:p6
Version: federal_register_of_legislation:F2022L01274
Segment Type: other
Provision Reference: 
Character Range: 13618–16449

scheme interests

           (b) total amount for which the scheme interests offered does not exceed $5 million in relation to any one scheme or schemes which are determined by ASIC to be closely related schemes under subsection 601ED(3) of the Act;

           (c) the issuer or seller has not offered the scheme interests, or scheme interest of the same class, to more than 20 persons (as worked out under subparagraph (d)) at the time of the offer or in the precedingpreceding 12 months of the offer;

           (d) In counting 20 persons for the purposes of paragraph 2(c), count all of the following:

              (i) persons to whom an offer for scheme interests was made in accordance with this instrument or former ASIC Class Order [CO 02/0273] and which cannot, by acceptance, give rise to a contract to issue or sell scheme interests;

              (ii) persons to whom an offer for scheme interests, which by acceptance, give rise to a contract to issue or sell scheme interests;

              (iii) persons to whom an offer for scheme interests was made, which did not need a Product Disclosure Statement (other than because of this instrument or section 1012E of the Act).

           (e)  the issuer or seller does not make an offer of scheme interests for issue or sale which may, by acceptance give rise to a contract with a person who responded to an offer to which subparagraph (2)(d)(i) applies, during one year after that offer was made, other than any of the following:

              (i) an offer of scheme interests which does not need a Product Disclosure Statement (other than a because of this instrument or section 1012E of the Act);

              (iii) an offer to which subparagraph (2)(d)(ii) applies;

              (iv) an offer contained in a Product Disclosure Statement that relates to scheme interests, lodged with ASIC;

           (f) the seller or issuer does not issue or sell scheme interests in schemes that are determined by ASIC to be closely related schemes under subsection 601ED(3) of the Act to persons who respond to offers made under subparagraphs (2)(d)(i) or (ii) for more than $5 million (as worked out under paragraph (2)(g)) in total until one year after the last of those offers was made;

           (g) In calculating $5 million for the purposes of paragraph (2)(f) do not count all of the following:

              (i)  amounts paid in relation to issues that result from offers of scheme interests which did not need a Product Disclosure Statement (other than because of this instrument or section 1012E of the Act);

              (ii) amounts paid in response to an offer made in a Product Disclosure Statement dated after the issuer or seller has ceased to make or publish offers, advertisements or publications under subparagraph (2)(d)(i).

Note: