Following a lengthy consultation period, ASIC has released new class order relief for both listed and unlisted companies and a new Regulatory Guide 49 in relation to employee incentive schemes. The new relief and guidance recognises that the structure of employee incentive schemes has changed over the years and addresses some of the confusion around the application of previous relief. In particular, the new relief and guidance extends the categories of persons to whom offers under an employee incentive scheme can be made and broadens the range of financial products that can be offered. In addition, the ASIC notification requirements are simplified and transitional relief is provided for those schemes already relying on the previous relief.
For further details, see the G+T Client Alert issued on 11 November 2014.