Document ID: chunk:federal_register_of_legislation:F2023C00095:body:0:p6
Version: federal_register_of_legislation:F2023C00095
Segment Type: other
Provision Reference: 
Character Range: 12754–15647

the terms of the contribution plan;

       (b) must not allow an eligible participant to participate in the contribution plan to acquire an overlying eligible product that is not able to be traded on an eligible financial market;

           Note: This subparagraph (b) does not prohibit an eligible participant from participating in a contribution plan to acquire 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.

       (c) must ensure that any contributions (other than contributions in the form of future gross (before-tax) salary or wages or from a loan from the body or an associated body corporate to an eligible participant) under the terms of the contribution plan which are to be used but have not yet been used to acquire underlying eligible products are held by or on behalf of the listed body or an associated body corporate on trust for eligible participants, in an account with an Australian ADI that is used solely in connection with employee incentive schemes of the listed body or an associated body corporate (whether or not the other employee incentive schemes are covered by this instrument), whether the account is maintained in this jurisdiction or elsewhere;

       (d) must ensure that if underlying eligible products have been acquired by the trustee for a specified eligible participant on an allocated basis using contributions made by the eligible participant under a contribution plan, the eligible participant has the right to:

           (i) exercise, or to direct the trustee of the underlying eligible products to exercise on their behalf, any voting rights attaching to the underlying eligible products; and

           (ii) receive income deriving from the underlying eligible products, including dividends and distributions;

           Note: The right to receive dividends or distributions may be subject to terms that the dividends or distributions are to be applied to repay a loan from the body or an associated body corporate to the eligible participant in connection with the employee incentive scheme.

       (e) unless the eligible participant (or a person covered by one of the sub-subparagraphs in subparagraph 29(c)) has already acquired the eligible products under the employee incentive scheme— must ensure that an eligible participant may, by giving a notice to the body, discontinue their participation in the contribution plan, the discontinuance to take effect no more than 45 days after the giving of the notice; and

       (f) must ensure that if an eligible participant has discontinued their participation in the contribution plan, any contributions (other than contributions in the form of future gross (before-tax) salary or