Document ID: chunk:federal_register_of_legislation:F2023C00116:body:0:p3
Version: federal_register_of_legislation:F2023C00116
Segment Type: other
Provision Reference: 
Character Range: 5106–7923

the eligible product by the unlisted body or a wholly-owned subsidiary of the body occurs either:

          (i) through a financial services licensee; or

          (ii) outside this jurisdiction and through a person which is licensed or otherwise authorised to deal in financial products of that kind in the relevant place.

    Custodial or depository services

    12. An unlisted body or a wholly-owned subsidiary of the body that provides any of the following financial services in connection with an employee incentive scheme covered by this instrument does not have to comply with subsection 911A(1) of the Act in relation to the financial service:

       (a) a custodial or depository service in relation to the eligible product where the body performs their duties in good faith and has sufficient resources to perform those duties;

       (b) dealing in the eligible product in the course of providing a custodial or depository service covered by paragraph (a).

    Hawking

    13. An unlisted body or a wholly-owned subsidiary that makes an offer of an eligible product to an eligible participant in the course of, or because of, an unsolicited contact with the eligible participant made in connection with an employee incentive scheme covered by this instrument does not have to comply with section 992A of the Act.

    Advertising

    14.  An unlisted body, a wholly-owned subsidiary of the body or a trustee that advertises, or publishes a statement that is reasonably likely to induce eligible participants to acquire, an eligible product under an employee incentive scheme covered by this instrument does not have to comply with section 1018A of the Act in relation to the advertisement or publication.

    Conditions

    Notice of reliance

    15. An unlisted body or a wholly-owned subsidiary of the body making an offer in connection with a particular employee incentive scheme must give ASIC a notice of reliance.

         Note 1: A notice of reliance can cover a particular employee incentive scheme that is intended to operate for many years. A new notice of reliance will be required to be given to ASIC if the body establishes a new employee incentive scheme.

         Note 2: A body relying on only paragraphs 25, 26, 27 or 28 (Transitional) of this instrument does not need to give ASIC a notice of reliance.

    16. The body may give ASIC the notice of reliance at any time before the body first relies on this instrument in relation to the particular employee incentive scheme but, in any event, must give ASIC the notice of reliance no later than 1 month after the day the body first relies on this instrument in relation to the particular employee incentive scheme.

    Disclosure

    17. An unlisted body or a wholly-owned subsidiary of the body that makes an offer under