Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.12 - MISCELLANEOUS  

Division 1A - Employee share schemes  

Subdivision D - Making offers under this Division  

SECTION 1100ZC   MAKING OFFERS UNDER THIS DIVISION  

1100ZC(1)    
This section applies (subject to section 1100ZG ) in relation to an offer for the issue, sale or transfer of ESS interests in connection with an employee share scheme if the offer is eligible to be made under this Division (see Subdivision C ).

Relief relating to disclosure

1100ZC(2)    
Parts 6D.2 and 6D.3 do not apply in relation to the offer.

1100ZC(3)    
Part 7.9 does not apply in relation to the offer, or any issue or sale of the interest to an ESS participant under the offer.

1100ZC(4)    
Unless the issue or sale is eligible to be made under this Division only because of subsection 1100R(2) , issues and sales of securities or financial products that result from the offer are to be disregarded when counting issues and sales, and the amount raised from issues and sales, for the purposes of subsection 708(1) (for securities) and 1012E(2) (for financial products).

1100ZC(5)    
Section 1012A (about disclosure in relation to personal advice) does not apply in relation to financial product advice relating to the offer.

1100ZC(6)    
Part 7.8A (about the design and distribution requirements relating to financial products for retail clients) does not apply in relation to the issue, sale or transfer of a security that is an ESS interest under the offer.

Relief relating to Australian financial services licensing

1100ZC(7)    
A person is exempt from the requirement under subsection 911A(1) to hold an Australian financial services licence for a financial service they provide if:

(a)    the service:

(i) is the provision of general advice by the person in connection with the offer; or

(ii) is, or is provided incidentally to, a custodial or depository service that is provided by the person in connection with the offer; or

(iii) the service is issuing or dealing in a financial product by the person in connection with the offer; or

(iv) is dealing in an interest in an ESS contribution plan for the offer; and

(b)    the person is:

(i) the body corporate or the responsible entity of the registered scheme to which the offer relates; or

(ii) an associated entity of that body corporate or responsible entity.

Relief relating to hawking of financial products

1100ZC(8)    
Subsection 992A(1) does not apply in relation to the offer.