Treasury Laws Amendment (Cost of Living Support and Other Measures) Act 2022 (14 of 2022)

Schedule 4   Employee Share Schemes

Corporations Act 2001

1   Section 9 (paragraph (a) of the definition of contribution plan)

Repeal the paragraph, substitute:

(a) regular deductions are made from the wages or salary of an employee or director (the contributor ) to acquire financial products that are offered for issue or sale to the contributor under a scheme for employees or directors of a company to acquire any of the following financial products of the company:

(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;