Employee Incentive Schemes (EIS): update on ASIC relief

On 31 October 2014, ASIC updated its relief relating to employee incentive schemes.

The introduction of these Class Orders represents, in some respects, a marked change in ASIC's position in relation to such schemes.

The increased flexibility and broadened scope of the relief will likely lead to more listed and unlisted companies offering equity participation through employee incentive schemes to more of their employees.

In this Alert, Partner Nicole Radice and Solicitor Shilpa Dougall summarise the key changes to ASIC relief in relation to employee incentive schemes arising as a result of the introduction of the Class Orders.

Listed Bodies – Class Order 14/1000

For listed bodies, the key changes to ASIC relief in relation to offers under employee incentive schemes (EIS) are: