CORPORATIONS ACT 2001 - SECT 1100M Meaning of ESS interest
CORPORATIONS ACT 2001 - SECT 1100M
Meaning of ESS interestBodies corporate included in the official list of a financial market
(1) An ESS interest , in a body corporate that is included in the official list of a financial market covered by section 1100K, means any of the following:
(a) a fully paid share in the body corporate that is in a class of shares that is able to be traded on the financial market;
(b) a beneficial interest in a fully paid share in the body corporate where the beneficial interest is in a class of interests that is able to be traded on the financial market;
(c) a fully paid share in the body corporate that is convertible into an interest referred to in paragraph (b), where the conversion can be made without charge or for a nominal fee;
(d) a beneficial interest in a fully paid share in the body corporate that is convertible into an interest referred to in paragraph (a), where the conversion can be made without charge or for a nominal fee;
(e) a unit in an interest mentioned in any of paragraphs (a), (b), (c) or (d);
(f) a fully paid stapled security that is in a class of stapled securities that is able to be traded on the financial market, that consists of 2 or more interests, each of which would separately be:
(i) an ESS interest under any of paragraphs (a) to (e) of the body corporate, or of an associated entity of the body corporate; or
(ii) an ESS interest under paragraph (3)(a) or (b) in a registered scheme, where the responsible entity of the scheme is an associated entity of the body corporate;
(g) a unit in a stapled security mentioned in paragraph (f);
(h) an incentive right granted in relation to, or an option to acquire, an interest mentioned in any of paragraphs (a), (b), (c), (d) or (f) (the underlying ESS interest );
(i) any other interest in the body corporate prescribed by the regulations for the purposes of this paragraph.
Meaning of ESS interest in other bodies corporate
(2) An ESS interest , in a body corporate to which subsection (1) does not apply, means:
(a) a fully paid share in the body corporate; or
(b) a unit in an interest mentioned in paragraph (a); or
(c) an incentive right granted in relation to, or an option to acquire, an interest mentioned in paragraph (a) (the underlying ESS interest ); or
(d) any other interest in the body corporate prescribed by the regulations for the purposes of this paragraph.
Meaning of ESS interest in a registered scheme
(3) An ESS interest , in a registered scheme that is included in the official list of a financial market covered by section 1100K, means:
(a) an interest in the scheme that is of the same kind as an interest in the scheme that is able to be traded on the financial market; or
(b) a unit in an interest mentioned in paragraph (a); or
(c) an incentive right granted in relation to, or an option to acquire, an interest mentioned in paragraph (a) (the underlying ESS interest ); or
(d) any other interest in the scheme prescribed by the regulations for the purposes of this paragraph.
Meaning of incentive right
(4) Incentive right , in relation to a security or financial product, means:
(a) a conditional right to acquire the security or financial product; or
(b) a conditional right to be paid a cash amount where the amount is determined (wholly or in part) with reference to any of the following:
(i) the price or value of the security or financial product at a particular time;
(ii) the change in the price or value of the security or financial product over a particular period;
(iii) the amount of dividends or distributions paid in respect of the security or financial product at a particular time;
(iv) the change in the amount of dividends or distributions paid in respect of the security or financial product over a particular period; or
(c) a conditional right to:
(i) acquire the security or financial product; and
(ii) be paid a cash amount where the amount is determined
(wholly or in part) with reference to any of the matters mentioned in
subparagraphs (b)(i) to (iv).