Corporations Legislation Amendment (Simpler Regulatory System) Act 2007 (101 of 2007)
Schedule 1 Amendments
Part 1 Amendments commencing on Royal Assent
Corporations Act 2001
4 Section 9
Insert:
eligible employee share scheme means an employee share scheme for a body corporate in respect of which the following conditions are met:
(a) the scheme is offered only to employees or directors mentioned in paragraph (a) of the definition of employee share scheme ;
(b) the financial products that are offered under the scheme are offered:
(i) under a disclosure document or Product Disclosure Statement; or
(ii) without disclosure under Part 6D.2 in accordance with subsection 708(12);
(c) the financial products which may be acquired under the scheme are the following:
(i) fully paid ordinary shares;
(ii) options, offered for no more than nominal consideration, for the issue or transfer of fully paid ordinary shares;
(iii) units in fully paid ordinary shares.