How Listed Entities are Falling Foul of the New ESS Regime
ASX entities who rely on Listing Rule exemptions to issue securities under their employee incentive schemes, and who also rely on the streamlined disclosure requirements in Division 1A of Part 7.12 of the Corporations Act may be inadvertently in breach of the provisions of the new employee share scheme regime (ESS Regime). Falling foul of the ESS Regime may result in a listed entity committing various breaches of, or offences under, the Corporations Act, and can lead to personal liability for certain persons, including directors. One of the requirements of […]