Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1100zg:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1100ZG (pt 2/3)
Character Range: 4831541–4834157

made, it was eligible to be made under this Division because of the operation of section 1100P (offers for no monetary consideration); and
 (b) under the offer, an ESS interest of the body corporate or registered scheme may be issued or transferred by the trustee of a trust; and
 (c) at any time after the offer is made, an ESS participant acquires ESS interests under the offer; and
 (d) at any time after the offer is made, the trust ceases to meet the requirements in section 1100S or the trustee of the trust does not comply with a term of the trust deed.

Revocation of regulatory relief—small scale offers using trusts, contribution plans or loans
 (3) Section 1100ZC does not apply, and is taken never to have applied, to an offer for the issue, sale or transfer of ESS interests in connection with an employee share scheme of a body corporate or registered scheme if:
 (a) at the time the offer was made, it was eligible to be made under this Division because of the operation of subsection 1100R(2) (small scale offers); and
 (b) at any time after the offer is made, an ESS participant makes a payment to acquire ESS interests under the offer, or makes a payment to exercise options or incentive rights that were acquired under the offer; and
 (c) at any time after the offer is made, any of the following occur:
 (i) for an offer under which an ESS interest of the body corporate or registered scheme may be issued or transferred by the trustee of a trust—the trust ceases to meet the requirements in section 1100S or the trustee of the trust does not comply with a term of the trust deed;
 (ii) any plan under which an ESS participant may acquire the ESS interests by making regular payments, or having regular deductions made from the participant's salary or wages, ceases to be an ESS contribution plan for the offer (see section 1100T);
 (iii) any loan offered by the body corporate or relevant responsible entity, or an associated entity of the body corporate or responsible entity, in connection with the scheme ceases to comply with section 1100U.

When contravention occurs
 (4) Subsection (5) applies if subsection (1), (2) or (3) operates to treat section 1100ZC as never having applied to an offer of ESS interests because of an event (a revocation event) occurring as described in any of the following provisions of this section:
 (a) subparagraphs (1)(c)(i) to (vi);
 (b) paragraph (2)(d);
 (c) subparagraphs (3)(c)(i) to (iii).
 (5) For the purposes of determining:
 (a) under section 1316 when proceedings for an offence against this Act may be instituted; and
 (b) under section 1317K when