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 D is modified by the ASIC Corporations (Employee Share Schemes) Instrument 2022/1021.
CCH Note: Section 1100ZC is modified by the ASIC Corporations (Employee Share Schemes) Instrument 2022/1021.
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
(b) the person is:
(iv) is dealing in an interest in an ESS contribution plan for the offer; and
(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.
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