Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 7.12 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (IPH Limited Employee Share Scheme Disclosure) Instrument 2024/293; and the ASIC Corporations (L ' Or é al SA Employee Share Scheme Disclosure) Instrument 2024/296.
For legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.12, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH note - modifying legislative instruments: The application of Division 1A is affected by the following legislative instruments that commenced on or after 1 January 2022: the ASIC Corporations (Employee Share Schemes) Instrument 2022/1021; the ASIC Corporations (IPH Limited Employee Share Scheme Disclosure) Instrument 2024/293; and the ASIC Corporations (L ' Or é al SA Employee Share Scheme Disclosure) Instrument 2024/296.
For legislative instruments or class orders before 1 January 2022 that affect the application of Division 1A, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH Note: Subdivision C is modified by the ASIC Corporations (Employee Share Schemes) Instrument 2022/1021.
CCH Note: Section 1100ZB is modified by the ASIC Corporations (Employee Share Schemes) Instrument 2022/1021.
Each amount mentioned in a subsection of this section is not included in working out under section 1100ZA whether an offer breaches the monetary cap.
1100ZB(2)
An amount paid into an ESS contribution plan for the offer.
1100ZB(3)
An amount payable by a participant or related person for the issue or sale of ESS interests to the extent that, under the terms of the offer, the amount can only become payable during a liquidity period for the ESS interests.
1100ZB(4)
An amount payable on the exercise of options or incentive rights to the extent that, under the terms of the offer, the amount can only become payable during a liquidity period for the underlying ESS interests.
1100ZB(5)
An amount payable by an ESS participant for the issue or sale of ESS interests to the extent that, under the terms of the offer: (a) the amount can only become payable no longer than 7 days before the start of a liquidity period for the ESS interests; and (b) all application money received from ESS participants before the start of a liquidity period must be held on trust for the ESS participants until:
(i) the start of the liquidity period; or
(c) if application money needs to be returned to an ESS participant, it must be returned as soon as practicable.
(ii) the money is returned to the ESS participants; and
1100ZB(6)
An amount payable by an ESS participant on the exercise of options or incentive rights to the extent that, under the terms of the offer: (a) the amount can only become payable no longer than 7 days before the start of a liquidity period for the underlying ESS interests; and (b) all application money received from ESS participants before the start of a liquidity period must be held in trust for the ESS participants until:
(i) the start of the liquidity period; or
(c) if application money needs to be returned to an ESS participant, it must be returned as soon as practicable.
(ii) the money is returned to the ESS participants; and
Liquidity period for ESS interests
1100ZB(7)
A liquidity period for an ESS interest is a period during which: (a) the ESS interest is in a class of interests that is able to be traded on the official list of a financial market covered by section 1100K ; or (b) an executed sale agreement constituting an offer to acquire ESS interests in the same class as the ESS interest is open for acceptance; or (c) a circumstance prescribed by the regulations for the purposes of this paragraph exists.
Regulations may prescribe other amounts
1100ZB(8)
The regulations may prescribe an amount for the purposes of this subsection.
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