media release (15-328MR)

ASIC updates guidance on employee incentive schemes and amends class orders

Published

ASIC has made some small changes to our recently released regulatory guide and updated class orders in relation to employee incentive schemes.  

ASIC amended ASIC Class Orders [CO 14/1000] Employee Incentive Schemes: Listed Companies and [CO 14/1001] Employee Incentive Schemes: Unlisted Companies to address some technical drafting issues. Regulatory Guide 49 Employee incentive schemes (RG 49) has also been updated to provide further guidance. There are no significant changes to the underlying policy.

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Background

In 2014, ASIC replaced Class Order [CO 03/184] Employee share schemes with [CO 14/1000] and [CO 14/1001] to broaden relief to better facilitate employee incentive schemes. ASIC expanded the types of products that can be offered, the categories of people who can participate and the structures that can be used for employee incentive schemes. Since the release of the class orders, ASIC has seen a significant reduction in individual applications for relief in relation to employee incentive schemes.

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