Document ID: chunk:federal_register_of_legislation:F2023C00116:body:0:p8
Version: federal_register_of_legislation:F2023C00116
Segment Type: other
Provision Reference: 
Character Range: 17683–20527

be lodged with ASIC;

           (c) otherwise—a special purpose financial report covering the most recent financial year of the body;

       ASIC Class Order [CO 03/184] includes ASIC Class Order [CO 05/1270] to the extent that it relates to ASIC Class Order [CO 03/184];

       associate has the meaning given by Division 2 of Part 1.2 of the Act (except sections 12 and 16);

       casual employee, in relation to an unlisted body or a wholly-owned subsidiary of the body, means an individual who is, or might reasonably be expected to be, engaged to work the number of hours that are the pro-rata equivalent of 40% or more of a comparable full-time position with the body;

       contractor, in relation to an unlisted body or a wholly-owned subsidiary of the body, means:

           (a) an individual with whom the body has entered into a contract for the provision of services under which the individual performs work for the body; or

           (b) a company with whom the body has entered into a contract for the provision of services under which an individual, who is a director of the company or their spouse, performs work for the body;

       where the individual who performs the work under or in relation to the contract is, or might reasonably be expected to be, engaged to work the number of hours that are the pro-rata equivalent of 40% or more of a comparable full-time position with the body;

       contribution plan means a plan under which an eligible participant may make monetary contributions to acquire eligible products, whether made before or after the acquisition, from one or more of the following:

           (a) gross (before-tax) wages or salary;

           (b) net (after-tax) wages or salary;

           (c) other monies;

           Note: The terms of an employee incentive scheme covered by this instrument must not involve a contribution plan: see paragraph 21.

       directors' solvency resolution means a resolution of the directors of the unlisted body that there are reasonable grounds to believe that the body will be able to pay its debts as and when they become due and payable;

       directors' valuation resolution means a resolution of the directors of the unlisted body which relates to a valuation of the body or its eligible products, and is used to determine the value of an offer of eligible products to an eligible participant;

       eligible participant, in relation to an unlisted body or a wholly-owned subsidiary of the body, means a person specified in column 2 of Table A;

       eligible product, in relation to an unlisted body, means a financial product specified in column 1 of Table A;

       employee incentive scheme means an arrangement under which eligible products of an unlisted body are offered to eligible participants;

       financial product advice