Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
CCH Note: Division 1A is modified by the ASIC Corporations (Employee Share Schemes) Instrument 2022/1021.
CCH Note: Subdivision D is modified by the ASIC Corporations (Employee Share Schemes) Instrument 2022/1021.
CCH Note: Section 1100ZF is modified by the ASIC Corporations (Employee Share Schemes) Instrument 2022/1021.
If a person is required by the terms of an offer of ESS interests in a body corporate that is not included in the official list of a financial market covered by section 1100K to hold application money received from ESS participants in trust until the start of a liquidity period, the person must hold the application money in trust under this section until: (a) the start of the liquidity period; or (b) the money is returned to the ESS participants.
1100ZF(2)
If the application money needs to be returned to an ESS participant, the person must return the money as soon as practicable.
1100ZF(3)
An offence based on subsection (1) or (2) is an offence of strict liability.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.