you are an individual; and

the loss or outgoing is incurred in respect of testing you for the novel coronavirus SARS-CoV-2 that causes COVID-19 using a test covered by subsection (3); and

the purpose of testing you is to determine whether you may attend or remain at a place where you:

engage in activities to gain or produce your assessable income; or

engage in activities in the course of carrying on a *business for the purpose of gaining or producing your assessable income.

is a polymerase chain reaction test; or

(b) is a therapeutic good (within the meaning of the Therapeutic Goods Act 1989) that:

is included in the Australian Register of Therapeutic Goods maintained under section 9A of that Act; and

has an intended purpose, accepted in relation to that inclusion, that relates to the detection of the novel coronavirus SARS-CoV-2 that causes COVID-19.

(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:

fully paid ordinary shares;

options, offered for no more than nominal consideration, for the issue or transfer of fully paid ordinary shares;

units in fully paid ordinary shares;

has as its purpose the acquisition of shares in a company by, or on behalf of:

employees of the company, or of a related body corporate; or

directors of the company, or a related body corporate, who hold a salaried employment or office in the company or in a related body corporate; and

has been approved by the company in general meeting.

an ESS contribution plan for an offer of ESS interests that is eligible to be made under Division 1A of Part 7.12;

an employee share buy-back.

a body corporate; or

a registered scheme that meets certain listing requirements.

directors and employees of the body corporate or the responsible entity of the registered scheme; and

directors and employees of an associated entity of the body corporate or the responsible entity of the registered scheme; and

persons that provide services to the body corporate or responsible entity of the registered scheme.

the disclosure requirements for the issue, sale and transfer of securities (Parts 6D.2 and 6D.3) and financial products (Part 7.9);

the restrictions on advertising of offers for the issue, sale and transfer of securities (section 734) or financial products (section 1018A);

the requirement to make a target market determination for a financial product and distribute financial products in accordance with a target market determination (Part 7.8A);

the requirement to hold an Australian financial services licence for a financial service provided in relation to the employee share scheme (section 911A);

the prohibition on the hawking of financial products (section 992A).

the proportion of shares covered by ESS interests that are offered complies with an issue cap; and

the terms of the offer include certain terms; and

streamlined disclosure requirements are met.

an offer ceases to meet these requirements; or

the body corporate or responsible entity of the scheme does not comply with a term of the offer dealing with disclosure.

offering ESS interests for issue includes inviting applications for the issue of the ESS interests; and

offering ESS interests for sale includes inviting offers to purchase the ESS interests.

a financial market operated by a market licensee;

a foreign financial market determined by ASIC under subsection (2).

(a) a person (a primary participant) who is:

an employee or director of, or an individual who provides services to, the body corporate or the responsible entity of the registered scheme; or

an employee or director of, or an individual who provides services to, an associated entity of the body corporate or of the responsible entity of the registered scheme, where that associated entity is a body corporate; or

a prospective person to whom subparagraph (i) or (ii) may apply; or

a person prescribed by the regulations for the purposes of this subparagraph; or

(b) another person (a related person) on behalf of a primary participant, where the related person is:

a spouse, parent, child or sibling of the primary participant; or

another body corporate controlled by the primary participant or a person mentioned in subparagraph (i); or

(iii) a body corporate that is the trustee of a self managed superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993) where the primary participant is a director of the body corporate; or

a person prescribed in relation to the primary participant by the regulations for the purposes of this subparagraph.

a primary participant mentioned in paragraph (1)(a) in relation to the scheme; or

a related person mentioned in paragraph (1)(b) in relation to the scheme.

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;

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;

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;

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;

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:

an ESS interest under any of paragraphs (a) to (e) of the body corporate, or of an associated entity of the body corporate; or

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;

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);

any other interest in the body corporate prescribed by the regulations for the purposes of this paragraph.

a fully paid share in the body corporate; or

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

any other interest in the body corporate prescribed by the regulations for the purposes of this paragraph.

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

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

any other interest in the scheme prescribed by the regulations for the purposes of this paragraph.

a conditional right to acquire the security or financial product; or

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:

the price or value of the security or financial product at a particular time;

the change in the price or value of the security or financial product over a particular period;

the amount of dividends or distributions paid in respect of the security or financial product at a particular time;

the change in the amount of dividends or distributions paid in respect of the security or financial product over a particular period; or

a conditional right to:

acquire the security or financial product; and

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).

the offer is covered by any of the following:

section 1100P (about offers for no monetary consideration);

section 1100Q (about offers for monetary consideration);

section 1100R (about offers that would otherwise not need disclosure); and

the offer is expressed to be made under this Division.

no monetary consideration is to be provided for the issue or transfer of the interests; and

if the offer is of options or incentive rights—no monetary consideration is to be provided on the exercise of the options or rights; and

any trust that may issue or transfer ESS interests under the scheme meets the requirements in section 1100S; and

the offer meets any requirements prescribed in the regulations for the purposes of this paragraph.

either or both of the following apply:

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;

the interests are options or incentive rights and monetary consideration is to be provided on the exercise of the options or rights; and

any trust that may issue or transfer ESS interests under the scheme meets the requirements in section 1100S; and

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

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

the offer complies with the issue cap (see section 1100V); and

the offer complies with section 1100W (about disclosure); and

the terms of the offer comply with sections 1100Y and 1100Z; and

the offer meets any additional requirements prescribed in the regulations for the purposes of this paragraph.

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

the offer complies with section 1100ZA (about the monetary cap); and

the offer meets any additional requirements prescribed in the regulations for the purposes of this paragraph.

the offer would not require disclosure to any investor under Part 6D.2 (if that Part otherwise applied to the offer) because of section 708 (apart from subsection 708(1) or (15)) or 708AA; or

the offer would not require any person to be given a Product Disclosure Statement under Part 7.9 (if that Part otherwise applied to the offer) because of section 1012D (apart from subsection 1012D(5) or (6)), 1012DAA or 1012DA.

either:

the offer would not require disclosure to any investor under Part 6D.2 (if that Part otherwise applied to the offer) because of subsection 708(1); or

the offer would not require any person to be given a Product Disclosure Statement under Part 7.9 (if that Part otherwise applied to the offer) because of subsection 1012E(2); and

any trust that may issue or transfer ESS interests under the scheme meets the requirements in section 1100S; and

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

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.

the trust is covered by subsection (2); and

either:

the trustee acquires the ESS interest in connection with the employee share scheme for the purposes of the trustee transferring the ESS interest to an ESS participant; or

if the ESS interest is a unit in another ESS interest—the trustee acquires the other ESS interest in connection with the employee share scheme for the purposes of the trustee issuing or transferring the unit to an ESS participant.

provides that, in its capacity as trustee of the trust, the activities of the trustee are limited to managing employee share schemes of the body corporate or registered scheme referred to in subsection (1); and

requires the trustee of the trust to keep written records on the administration of the trust; and

prevents the trustee of the trust charging any fees or charges for administering the trust, other than:

reasonable disbursements charged to the trust; or

amounts charged to the body corporate or responsible entity of the registered scheme; and

if the trustee of the trust is an associated entity of the body corporate or the relevant responsible entity—provides that the trustee may only exercise voting rights associated with the ESS interests in accordance with the instructions of the holder of the interests or consistent with the trustee’s fiduciary duties; and

contains terms that meet any requirements prescribed in the regulations for the purposes of this paragraph.

allow an ESS participant to make regular payments, or elect to have regular deductions made from their wages or salary, for the purpose of acquiring the ESS interests under the offer; and

provide that, before the participant acquires the ESS interests under the offer, the payments or deductions are held on trust in an account with an Australian ADI that is kept solely for that purpose; and

allow the participant to elect to discontinue the deductions or payments at any time; and

provide that, if the participant so elects:

any deductions from the participant’s wages or salary will cease, and any deductions made after the election will be repaid to the participant, within 45 days of the election; and

the amount of the deductions or payments standing, at the time when the election is made, to the credit of the account for the participant, and any interest on that amount, will be repaid to the participant within 45 days of the election; and

require the participant to agree in writing to the terms of the plan before participating in the plan; and

meet any requirements prescribed in the regulations for the purposes of this paragraph.

the loan is offered on the following terms:

that the loan has no interest or fees payable;

that the rights of the body corporate, responsible entity or associated entity as against the ESS participant, in the event of default in payment of the loan, are wholly limited to forfeiture of the ESS interests acquired using the loan; and

the borrower is the ESS participant who will acquire ESS interests offered under the employee share scheme; and

the terms of the loan meet any requirements prescribed in the regulations for the purposes of this paragraph.

the total number of fully paid shares in the body corporate or interests in the registered scheme that are, or are covered by, the ESS interests of the body corporate or scheme that may be issued under the offer; and

the total number of fully paid shares in the body corporate or interests in the registered scheme that are, or are covered by, the ESS interests that have been issued, or could have been issued, under offers made in connection with the employee share scheme at any time during the 3 year period ending on the day the offer is made;

if the constitution of the body corporate or registered scheme specifies an issue cap percentage—that percentage; or

if paragraph (a) does not apply—the greater of the following:

for a body corporate or registered scheme that is included in the official list of a financial market covered by section 1100K—5%;

for a body corporate that is not included in the official list of a financial market covered by section 1100K—20%;

the percentage (if any) prescribed by the regulations for the purposes of this subparagraph.

each body corporate or registered scheme mentioned in paragraph 1100M(1)(f) in relation to an interest that comprises the stapled security is treated as offering that interest; and

to comply with the issue cap, subsection (1) must be satisfied in relation to each of those offers.

includes the terms of the offer, or a summary of the terms of the offer with a statement that, on request, a copy of the full terms of the offer will be provided to the ESS participant; and

provides general information about the risks of acquiring and holding the ESS interests being offered; and

states that advice given in relation to the offer does not take into account the ESS participant’s objectives, financial situation and needs; and

suggests that the ESS participant obtain personal advice in relation to the offer; and

(e) states the period (the application period) during which the ESS participant may accept the offer; and

for an employee share scheme of a body corporate that is included in the official list of a financial market covered by section 1100K:

states either the acquisition price of the ESS interests or, if the acquisition price will be determined at a future date, how the acquisition price will be determined; and

explains how the ESS participant may ascertain the market price of the shares or, if beneficial interests, units, options or incentive rights are offered, how the ESS participant may ascertain the market price of the underlying ESS interest; and

if ESS interests may be acquired under the offer using a loan or ESS contribution plan—includes:

the terms of the loan or plan; or

a summary of the terms of the loan or plan and a statement that, on request, a copy of the terms of the plan or loan will be provided to the ESS participant; and

if ESS interests will be held on trust for ESS participants (other than by a body corporate of the kind mentioned in subparagraph 1100L(1)(b)(iii) (which is about self managed superannuation funds))—includes:

the trust deed; or

a summary of the trust deed and a statement that, on request, a copy of the full deed will be provided to the ESS participant; and

includes, or directs the participant to, any of the following documents (if they exist) that relate to the same class of ESS interests as those being offered:

a disclosure document prepared under Part 6D.2 in relation to an offer of securities, where that offer was made in the 12 months before the start of the application period;

a Product Disclosure Statement prepared under Part 7.9 in relation to an offer of financial products for issue or sale, where that offer was made in the 12 months before the start of the application period; and

includes any other information prescribed by the regulations for the purposes of this paragraph.

a statement that the ESS interests may not have any value and that the value of the ESS interests will depend on future events that may not occur;

if the ESS interests are:

shares that are not ordinary shares; or

units in, incentive rights granted in relation to, or options to acquire, shares that are not ordinary shares;

the financial information mentioned in subsection (2), accompanied by a statement as to whether that financial information has been audited; and

a document covered by subsection (3) (about valuations) in relation to the ESS interests being offered; and

a statement that the body corporate is solvent; and

any other financial information prescribed by the regulations for the purposes of this paragraph.

if the body corporate must lodge a report for a financial year with ASIC under section 319—a copy of the most recent report lodged with ASIC; or

if the body corporate is a registered foreign company—a copy of the most recent documents lodged with ASIC under section 601CK; or

(c) otherwise—a balance sheet and profit and loss statement prepared in compliance with either the accounting standards or the international accounting standards (within the meaning of the Australian Securities and Investments Commission Act 2001).

(a) a copy of a valuation of the ESS interest that has been prepared consistently with an applicable method approved by the Commissioner of Taxation under Income Tax Assessment Act 1997;section 960-412 of the

if securities in the same class as the ESS interests are on offer at the same time as the ESS interests—a disclosure document for that offer that has been lodged with ASIC as mentioned in section 727;

if financial products in the same class as the ESS interests are on offer at the same time as the ESS interests—a disclosure document or statement (within the meaning of section 952B) in relation to those financial products;

a copy of an executed agreement under which ESS interests in the same class as the ESS interests are to be acquired on arm’s length terms by a third party who is not an associate of the person making the offer, where the agreement specifies the amount of monetary consideration to be paid for an ESS interest in that class;

a copy of a draft agreement under which ESS interests in the same class as the ESS interests are to be acquired on arm’s length terms by a third party who is not an associate of the person making the offer, where the agreement specifies the amount of monetary consideration to be paid for an ESS interest in that class;

a document prescribed by the regulations for the purposes of this paragraph.

an ESS participant cannot acquire an ESS interest under the offer until at least 14 days after receiving the ESS offer document and any supporting information required under section 1100X (if applicable) for the offer; and

if the ESS offer document included only a summary of the terms of the offer—the person who makes the offer must provide an ESS participant with a copy of the full terms of the offer within 10 business days of the ESS participant requesting a copy of those full terms; and

if the ESS offer document included only a summary of the terms of a loan or ESS contribution plan—the person who makes the offer must provide an ESS participant with a copy of the full terms of the loan or plan within 10 business days of the ESS participant requesting a copy of those full terms; and

if the ESS offer document included only a summary of a trust deed—the person who makes the offer must provide an ESS participant with a copy of the full trust deed within 10 business days of the ESS participant requesting a copy of the full trust deed; and

if the offer is made by a trustee of a trust that meets the requirements of the trustee must comply with the trust deed.section 1100S—

the options cannot be exercised, or the incentive rights cannot vest, unless the following documents are provided to the ESS participant at least 14 days before the exercise of the option or vesting of the incentive right:

the financial information mentioned in subsection 1100X(2), accompanied by a statement as to whether that financial information has been audited;

a document covered by subsection 1100X(3) (about valuations) in relation to the underlying ESS interest;

a statement that the body corporate is solvent;

any other information prescribed by the regulations for the purposes of this subparagraph; and

the person who made the offer must provide the ESS participant with the information mentioned in paragraph (a) at least 14 days before the option becomes exercisable or the incentive right vests; and

if the ESS participant is given a draft sale agreement in satisfaction of subparagraph (a)(ii)—the ESS participant cannot exercise the option or right until a sale agreement that is not materially different from the draft sale agreement has been executed.

the ESS offer document, any supporting information required under section 1100X (if applicable), and the terms of the offer:

must not include a misleading or deceptive statement; and

must not omit any information that would result in the ESS offer document, supporting information or terms of the offer being misleading or deceptive; and

(b) the person who makes the offer (the offeror) must provide each ESS participant with an updated ESS offer document as soon as practicable after becoming aware that the document that was provided has become out of date, or is otherwise not correct, in a material respect; and

if the offer is of options or incentive rights and monetary consideration is to be provided on the exercise of the options or incentive rights—the offeror must provide each ESS participant with updated documents in satisfaction of paragraph 1100Y(4)(a) as soon as practicable after becoming aware that the information that was provided has become out of date, or is otherwise not correct, in a material respect; and

each person mentioned in items 2, 3 and 4 of the table in subsection (2) must notify, in writing, the offeror as soon as practicable if, during the application period for the offer mentioned in paragraph 1100W(2)(e), the person becomes aware that:

a material statement in the documents mentioned in paragraph (a) is misleading or deceptive; or

information was omitted from any of those documents that has resulted in one or more of those documents being misleading or deceptive; or

a new circumstance has arisen during the application period which means the ESS offer document is out of date, or otherwise not correct, in a material respect; and

if the offer is of options or incentive rights and monetary consideration is to be provided on the exercise of the options or incentive rights—each person mentioned in items 2, 3 and 4 of the table in subsection (2) must notify, in writing, the offeror as soon as practicable if, after the documents mentioned in paragraph 1100Y(4)(a) have been provided to an ESS participant in accordance with that paragraph, the person becomes aware that:

a material statement in the documents is misleading or deceptive; or

information was omitted from any of the documents that has resulted in one or more of those documents being misleading or deceptive; or

a new circumstance has arisen since the documents were provided to an ESS participant which means the documents are out of date, or otherwise not correct, in a material respect; and

an ESS participant who suffers loss or damage because of a contravention of a term of the offer covered by paragraph (a), (b), (c), (d) or (e) of this subsection can recover the amount of loss or damage in accordance with the table in subsection (2).

the person:

made all inquiries (if any) that were reasonable in the circumstances; and

after doing so, believed on reasonable grounds that the statement was not misleading or deceptive; or

the person did not know that the statement was misleading or deceptive; or

the person placed reasonable reliance on information given to the person by:

if the person is a body corporate or a responsible entity of a registered scheme—someone other than a director, employee or agent of the body corporate or responsible entity; or

if the person is an individual—someone other than an employee or agent of the individual; or

for a person mentioned in column 2 of item 3 or 4 of the table in subsection (2)—the person proves that they publicly withdrew their consent to being named in the document in that way; or

the contravention arose because of a new circumstance that has arisen since the ESS offer document was prepared and the person proves that they were not aware of the matter.

the 12-month period starting on the day that an offer was first accepted by the participant or a related person of the participant in connection with the scheme; or

any subsequent 12-month period starting immediately after the end of the previous 12-month period.

the maximum amount the participant could pay in the 12-month period under the terms of any offer made in connection with any employee share scheme operated by the body corporate or an associate of the body corporate;

the maximum amount that could be paid by related persons of the participant in the 12-month period under the terms of any offer made in connection with any employee share scheme operated by the body corporate or an associate of the body corporate.

subject to paragraph (b), include amounts payable on the exercise of options and incentive rights, and amounts paid out of any related ESS contribution plan; and

do not include any amounts that are excluded from the monetary cap under section 1100ZB.

the amount referred to in subsection (6); and

70 per cent of the amount of any distributions received in the current period by the participant or a related person on an ESS interest acquired under the scheme (whether under the offer mentioned in subsection (1) or under another offer); and

70 per cent of the amount of any cash remuneration received in the current period by the participant, to the extent the remuneration was conditional on the achievement of objectives; and

if the current period is not the first 12-month period—the sum of any amount carried forward under subsection (7) for each previous 12-month period that started:

at or after the start of the first 12-month period; and

not earlier than 4 years before the start of the current period.

unless paragraph (b) applies—$30,000; or

if an amount is prescribed in the regulations for the purposes of this paragraph—that amount.

starting with the lesser of:

the basic cap amount; and

the amount that would be worked out under subsection (3) and in accordance with subsection (4), if the only amounts included were amounts payable on the exercise of options and incentive rights; and

subtracting the total amount paid in the 12-month period by the participant and each related person under the terms of any offer made in connection with any employee share scheme operated by the body corporate or an associate of the body corporate on the exercise of options and incentive rights;

the amount can only become payable no longer than 7 days before the start of a liquidity period for the ESS interests; and

all application money received from ESS participants before the start of a liquidity period must be held on trust for the ESS participants until:

the start of the liquidity period; or

the money is returned to the ESS participants; and

if application money needs to be returned to an ESS participant, it must be returned as soon as practicable.

the amount can only become payable no longer than 7 days before the start of a liquidity period for the underlying ESS interests; and

all application money received from ESS participants before the start of a liquidity period must be held in trust for the ESS participants until:

the start of the liquidity period; or

the money is returned to the ESS participants; and

if application money needs to be returned to an ESS participant, it must be returned as soon as practicable.

the ESS interest is in a class of interests that is able to be traded on the official list of a financial market covered by section 1100K; or

an executed sale agreement constituting an offer to acquire ESS interests in the same class as the ESS interest is open for acceptance; or

a circumstance prescribed by the regulations for the purposes of this paragraph exists.

the service:

is the provision of general advice by the person in connection with the offer; or

is, or is provided incidentally to, a custodial or depository service that is provided by the person in connection with the offer; or

the service is issuing or dealing in a financial product by the person in connection with the offer; or

is dealing in an interest in an ESS contribution plan for the offer; and

the person is:

the body corporate or the responsible entity of the registered scheme to which the offer relates; or

an associated entity of that body corporate or responsible entity.

the body corporate or scheme operates an employee share scheme; and

the person making the offer reasonably believes that:

the person acquired the interests under the employee share scheme; and

the person is making the offer only to persons who are ESS participants in relation to the body corporate or registered scheme.

all application money received from ESS participants applying for ESS interests in connection with the employee share scheme; and

all other money paid by them on account of the ESS interests before they are issued or transferred;

the ESS interests are issued or transferred; or

the money is returned to the ESS participants.

the start of the liquidity period; or

the money is returned to the ESS participants.

at the time the offer was made, it was eligible to be made under this Division because of the operation of section 1100Q (offers for monetary consideration); and

at any time after the offer is made, an ESS participant makes a payment to acquire ESS interests under the offer, or makes a payment to exercise options or incentive rights that were acquired under the offer; and

at any time after the offer is made, any of the following occur:

for an offer under which an ESS interest of the body corporate or registered scheme may be issued or transferred by the trustee of a trust—the trust ceases to meet the requirements in section 1100S or the trustee of the trust does not comply with a term of the trust deed;

the offer results in a breach of the issue cap (see section 1100V);

the offer results in a breach of the monetary cap (if applicable) for a primary participant (see section 1100ZA);

any plan under which an ESS participant may acquire the ESS interests by making regular payments, or having regular deductions made from the participant’s salary or wages, ceases to be an ESS contribution plan for the offer (see section 1100T);

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 ceases to comply with section 1100U;

the person who makes the offer contravenes a term of the offer mentioned in section 1100Y (terms of the offer—disclosure).

at the time the offer was made, it was eligible to be made under this Division because of the operation of section 1100P (offers for no monetary consideration); and

under the offer, an ESS interest of the body corporate or registered scheme may be issued or transferred by the trustee of a trust; and

at any time after the offer is made, an ESS participant acquires ESS interests under the offer; and

at any time after the offer is made, the trust ceases to meet the requirements in the trustee of the trust does not comply with a term of the trust deed.section 1100S or

at the time the offer was made, it was eligible to be made under this Division because of the operation of subsection 1100R(2) (small scale offers); and

at any time after the offer is made, an ESS participant makes a payment to acquire ESS interests under the offer, or makes a payment to exercise options or incentive rights that were acquired under the offer; and

at any time after the offer is made, any of the following occur:

for an offer under which an ESS interest of the body corporate or registered scheme may be issued or transferred by the trustee of a trust—the trust ceases to meet the requirements in section 1100S or the trustee of the trust does not comply with a term of the trust deed;

any plan under which an ESS participant may acquire the ESS interests by making regular payments, or having regular deductions made from the participant’s salary or wages, ceases to be an ESS contribution plan for the offer (see section 1100T);

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 ceases to comply with section 1100U.

subparagraphs (1)(c)(i) to (vi);

paragraph (2)(d);

subparagraphs (3)(c)(i) to (iii).

under section 1316 when proceedings for an offence against this Act may be instituted; and

under section 1317K when proceedings for a declaration of a contravention of a provision of this Act may be started;

a misleading or deceptive statement in:

a document that purports to be an ESS offer document required by section 1100W for the offer; or

information that purports to be supporting information required under section 1100X for the offer; or

an omission of information from a document mentioned in subparagraph (a)(i) or (ii) that would result in the document or information being misleading or deceptive; or

a new circumstance that:

has arisen during the application period for the offer mentioned in paragraph 1100W(2)(e); and

if the new circumstance had occurred before the offer was made, would have been required to be included in any of the documents mentioned in paragraph (a).

the person contravenes subsection (1); and

the misleading or deceptive statement or omission, or the new circumstance, is materially adverse from the point of view of an ESS participant.

made all inquiries (if any) that were reasonable in the circumstances; and

after doing so, believed on reasonable grounds that the statement was not misleading or deceptive.

if the person is a body corporate or a responsible entity of a registered scheme—someone other than a director, employee or agent of the body corporate or responsible entity; or

if the person is an individual—someone other than an employee or agent of the individual.

the documents mentioned in paragraph (1)(a) were updated to include all relevant information about the new circumstance; and

copies of those updated documents were given to the ESS participants.

a misleading or deceptive statement in any information provided to the ESS participants in purported satisfaction of the term of the offer mentioned in paragraph 1100Y(4)(a) (about the provision of valuations and financial information); or

an omission from information provided as mentioned in paragraph (a) that would result in the information provided being misleading or deceptive; or

a new circumstance that:

has arisen during the period that the option is exercisable or the incentive right is vested; and

if the new circumstance had occurred before the option became exercisable or the incentive right vested, would have been required to be included in the information mentioned in paragraph (a).

the person contravenes subsection (1); and

the misleading or deceptive statement or omission, or the new circumstance, is materially adverse from the point of view of an ESS participant.

made all inquiries (if any) that were reasonable in the circumstances; and

after doing so, believed on reasonable grounds that the statement was not misleading or deceptive.

if the person is a body corporate or a responsible entity of a registered scheme—someone other than a director, employee or agent of the body corporate or responsible entity; or

if the person is an individual—someone other than an employee or agent of the individual.

the information mentioned in paragraph (1)(a) was updated to include all relevant information about the new circumstance; and

the updated information was given to the ESS participants.

paragraph 1100Q(1)(a) applies to the offer; and

the offer is made in, or accompanied by, a document that purports to be an ESS offer document required by section 1100W for the offer.

a material statement in any of the following documents is misleading or deceptive:

a document that purports to be an ESS offer document required by section 1100W for the offer;

information that purports to be supporting information required under section 1100X for the offer; or

there is a material omission of information from any of the documents mentioned in paragraph (a) that would result in any of those documents being misleading or deceptive; or

a material new circumstance exists that:

has arisen during the application period for the offer mentioned in paragraph 1100W(2)(e); and

if the new circumstance had occurred before the offer was made, would have been required to be included in any of the documents mentioned in paragraph (a).

each director of the body corporate or responsible entity;

a person named, with the person’s consent, in any document mentioned in paragraph (2)(a) as a proposed director of the body corporate or responsible entity;

a person named, with the person’s consent, in any document mentioned in paragraph (2)(a) as having made a statement:

that is included in any such document; or

on which a statement made in any such document is based.

the person is named, with the person’s consent, in any document mentioned in paragraph (2)(a):

as a director or proposed director of the body corporate or responsible entity; or

as having made a statement that is included in any such document or on which a statement made in any such document is based; and

at any time, the person publicly withdraws the person’s consent to being named in the document in that way.

exempt a person from all or specified provisions of the covered Chapters or this Division;

declare that the covered Chapters or this Division apply in relation to a person, as if specified provisions were omitted, modified or varied as specified in the declaration.

relate to all persons, specified persons or a specified class of persons;

relate to any other matter generally or as specified.

information in any of the following is not worded and presented in a clear, concise and effective manner:

an application form for the offer;

a document that purports to be an ESS offer document for the offer;

a document that purports to be supporting information required under section 1100X for the offer;

if the offer is not in a document mentioned in subparagraph (i) or (ii)—the document that contains the offer; or

a document that purports to be an ESS offer document for the offer does not meet the requirements of subsection 1100W(2); or

the terms of the offer do not comply with section 1100Y or 1100Z; or

a document that purports to be supporting information required under section 1100X for the offer does not meet the relevant requirements under that section for that document; or

the document that purports to be the ESS offer document, information that purports to be supporting information required under section 1100X, or the terms of the offer:

include a misleading or deceptive statement; or

omit information in such a way that results in any of those documents being misleading or deceptive; or

a person has contravened, or is likely to contravene, a term of the offer covered by section 1100Y or 1100Z.

hold a hearing; and

give a reasonable opportunity to any interested people to make oral or written submissions to ASIC on whether an order should be made.

ASIC makes an order under subsection (2) after the conclusion of the hearing; or

the interim order is revoked;

(iva) an ESS offer document, an application form or any supporting information required under issuing body corporate), if the conditions set out in subsection (2AA) are satisfied; orsection 1100X lodged with ASIC in relation to an offer of ESS interests in a body corporate (the

(a) no equity interests in any of the following companies are listed for quotation in the official list of any approved stock exchange at the end of the issuing body corporate’s most recent income year (the pre-lodgement year) before the income year in which the relevant document mentioned in subparagraph (2)(a)(iva) is lodged with ASIC:

the issuing body corporate;

any subsidiary of the issuing body corporate at the end of the pre-lodgement year;

any holding company of the issuing body corporate at the end of the pre-lodgement year;

any subsidiary of a holding company of the issuing body corporate at the end of the pre-lodgement year; and

the issuing body corporate had an aggregated turnover not exceeding $50 million for the pre-lodgement year.

the income year is the 2021-22 income year; and

your relevant income is not $126,000.

a 2022 cost of living payment; or

a 2022 cost of living payment under Division 1 of Part IIIK of the Veterans’ Entitlements Act;

Part 2.6D (2022 cost of living payment);

subsection 316(2), (3) or (4) applies to the person on 29 March 2022; and

the person is residing in Australia on 29 March 2022.

a 2022 cost of living payment under the ABSTUDY Scheme; or

a 2022 cost of living payment under Division 1 of Part IIIK of the Veterans’ Entitlements Act;

age pension;

disability support pension;

carer payment;

parenting payment;

youth allowance;

austudy payment;

jobseeker payment;

special benefit;

carer allowance;

double orphan pension.

the person makes a claim for a seniors health card under Division 1 of Part 3 of the Administration Act on or before that day; and

the person does not withdraw that claim on or before that day; and

the person is qualified for the card on that day.

a 2022 cost of living payment under Division 1 of Part 2.6D is paid to a person; and

after the 2022 cost of living payment is paid to the person, an underlying determination in relation to the person, at least so far as it relates to:

29 March 2022; or

a period that includes 29 March 2022;

the decision to change, revoke, set aside or supersede the underlying determination is or was made for the reason, or for reasons including the reason, that the person knowingly made a false or misleading statement, or knowingly provided false information; and

had the change, revocation, setting aside or superseding occurred on or before 29 March 2022, the 2022 cost of living payment would not have been paid;

a 2022 cost of living payment under Division 1 of Part 2.6D is paid to a person; and

the person qualified for the payment because of subsection 316(3) applying to the person in relation to having made a claim for a seniors health card; and

the person knowingly made a false or misleading statement, or knowingly provided false information, in relation to the claim; and

the 2022 cost of living payment would not have been paid to the person but for that statement or information;

2022 cost of living payment under Division 1 of Part 2.6D of the 1991 Act; or

on the date, occurring on or after 29 March 2022, that the Secretary considers to be the earliest date on which it is reasonably practicable for the payment to be paid; and

in such manner as the Secretary considers appropriate.

a 2022 cost of living payment under Division 1 of Part 2.6D of the 1991 Act; or

a 2022 cost of living payment under the ABSTUDY Scheme.

a person is subject to the income management regime; and

a 2022 cost of living payment is payable to the person.

the Secretary must deduct from the 2022 cost of living payment the deductible portion of the payment;

an amount equal to the deductible portion of the payment is credited to the Income Management Record;

an amount equal to the deductible portion of the payment is credited to the person’s income management account.

a 2022 cost of living payment under Division 1 of Part 2.6D of the 1991 Act; or

a 2022 cost of living payment under the ABSTUDY Scheme; or

a 2022 cost of living payment under Division 1 of Part IIIK;

a 2022 cost of living payment under the ABSTUDY Scheme; or

a 2022 cost of living payment under Division 1 of Part 2.6D of the Social Security Act;

on the date, occurring on or after 29 March 2022, that the Commission considers to be the earliest date on which it is reasonably practicable for the payment to be paid; and

in such manner as the Commission considers appropriate.

(a) service pension or income support supplement ceases to be payable to the person on a day (the cessation day) occurring on or before the test day; and

that cessation occurs because of employment income the person or the person’s partner earns, derives or receives (either alone or in combination with any other ordinary income earned, derived or received by the person or the person’s partner); and

were it not for the employment income, or the combined income, referred to in paragraph (b), the pension or supplement would be payable to the person throughout the period:

starting on the cessation day; and

ending on the test day; and

the cessation day occurs no earlier than 12 weeks before the test day.

the person receives for that day a pension under Part II or IV at a rate determined under or by reference to section 22, 23, 24, 25 or 27; and

the person’s rate of the pension is greater than nil for that day.

the person receives for that day a pension under Part II or IV at a rate determined under or by reference to subsection 30(1); and

the person’s rate of the pension is greater than nil for that day.

veteran payment is payable to the person on that day; and

veteran payment is so payable because of a claim made on or before that day.

a payment under the Veterans’ Children Education Scheme is payable to the person on that day; and

the payment is so payable because of a claim the person makes on or before that day; and

the person turns 16 on or before that day.

the person makes a claim for a seniors health card under Division 2 of Part VIIC on or before that day; and

the person does not withdraw that claim on or before that day; and

the person is eligible for the card on that day.

the person is the holder of a seniors health card on that day because of subsection 118XA(3); and

the person is eligible for the card on that day.

the person is, on that day, the holder of a card, known as the Repatriation Health Card—For All Conditions, that evidences the person’s eligibility under this Act or the MRCA to be provided with treatment for all injuries or diseases; and

the person is eligible for the card on that day.

the person makes a claim, on or before that day, under:

(i) Australian Participants in British Nuclear Tests and British Commonwealth Occupation Force (Treatment) Act 2006; orsection 8 of the

(ii) Treatment Benefits (Special Access) Act 2019;section 9 of the

the person does not withdraw that claim on or before that day; and

the person is an eligible person (within the meaning of that Act) on that day.

weekly compensation under Part 2 of Chapter 4 of the MRCA:

is payable to the person for that day; or

(ii) would be payable to the person for that day apart from paragraph 398(3)(b) of the MRCA and offsetting described in subsection 13(4) of the Military Rehabilitation and Compensation (Consequential and Transitional Provisions) Act 2004;

the person receives lump sum compensation under Part 2 of Chapter 4 of the MRCA on or before that day.

is payable to the person for that day; or

would be payable to the person for that day apart from section 204, and paragraph 398(3)(b), of the MRCA.

weekly compensation under Division 2 of Part 2 of Chapter 5 of the MRCA either:

is payable to the person for that day; or

would be payable to the person for that day apart from paragraph 398(3)(b) of the MRCA;

both:

the person receives lump sum compensation under Division 2 of Part 2 of Chapter 5 of the MRCA on or before that day; and

subsection 388(6) of the MRCA does not apply to the person before that day.

a payment under the scheme determined under section 258 of the MRCA is payable to the person on that day; and

the payment is so payable because of a claim the person makes on or before that day; and

the person turns 16 on or before that day.

(a) at any time, the person receives a payment of compensation under Safety, Rehabilitation and Compensation (Defence-related Claims) Act 1988; andsection 24 of the

the payment is paid because of a claim the person makes on or before that day.

in relation to the consumption of gazetted oil for a gazetted use during the period beginning on 30 March 2022 and ending at the end of 28 September 2022—4.3 cents per litre; or

in relation to the consumption of gazetted oil for a gazetted use during any other period—8.5 cents per litre.