Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1100y:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1100Y (pt 2/2)
Character Range: 4808996–4810296

cannot be exercised, or the incentive rights cannot vest, unless the following documents are provided to the ESS participant at least 14 days before the exercise of the option or vesting of the incentive right:
 (i) the financial information mentioned in subsection 1100X(2), accompanied by a statement as to whether that financial information has been audited;
 (ii) a document covered by subsection 1100X(3) (about valuations) in relation to the underlying ESS interest;
 (iii) a statement that the body corporate is solvent;
 (iv) any other information prescribed by the regulations for the purposes of this subparagraph; and
 (b) the person who made the offer must provide the ESS participant with the information mentioned in paragraph (a) at least 14 days before the option becomes exercisable or the incentive right vests; and
 (c) if the ESS participant is given a draft sale agreement in satisfaction of subparagraph (a)(ii)—the ESS participant cannot exercise the option or right until a sale agreement that is not materially different from the draft sale agreement has been executed.

Regulations may provide other ways of complying with this section
 (5) An offer also complies with this section if the offer is of a kind prescribed by the regulations for the purposes of this subsection.