Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An offer for the issue, sale or transfer of ESS interests to ESS participants in connection with an employee share scheme of a body corporate or registered scheme is covered by this section if:
(a) either or both of the following apply:
(i) the interests are offered for issue or sale in return for monetary consideration, and the interests will be acquired by the ESS participant who pays for the interests;
(ii) the interests are options or incentive rights and monetary consideration is to be provided on the exercise of the options or rights; and
(b) any trust that may issue or transfer ESS interests under the scheme meets the requirements in section 1100S; and
(c) any plan under which an ESS participant may acquire ESS interests by making regular payments, or having regular deductions made from the participant's salary or wages, is an ESS contribution plan for the offer (see section 1100T); and
(d) any loan offered by the body corporate or relevant responsible entity, or an associated entity of the body corporate or responsible entity, in connection with the scheme complies with section 1100U; and
(e) the offer complies with the issue cap (see section 1100V); and
(f) the offer complies with section 1100W (about disclosure); and
(g) the terms of the offer comply with sections 1100Y and 1100Z; and
(h) the offer meets any additional requirements prescribed in the regulations for the purposes of this paragraph.
Additional requirements for unlisted bodies corporate
(2) However, if the offer is of ESS interests in a body corporate that is not included in the official list of a financial market covered by section 1100K, the offer is not eligible to be made under this Division unless:
(a) if the interests are offered for issue or sale in return for monetary consideration--the offer is accompanied by the supporting information required by section 1100X; and
(b) the offer complies with section 1100ZA (about the monetary cap); and
(c) the offer meets any additional requirements prescribed in the regulations for the purposes of this paragraph.