Section 1100M — Corporations Act 2001: Meaning of ESS interest

Bodies 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).