ASIC Form CF08 Sets Notice of Reliance Process for Employee Incentive Scheme Class Order Relief

Key Takeaways

• ASIC's Form CF08 is the prescribed notice that entities must lodge to rely on Class Orders [CO 14/1000] (listed bodies) and [CO 14/1001] (unlisted bodies) for employee incentive scheme offers.
• There is no lodgement fee and the form is not published on ASIC's public register, but failing to lodge a valid notice could jeopardize the disclosure relief.
• Compliance teams should confirm that their equity plan processes include accurate and timely CF08 lodgement.

Deep Dive

ASIC's Form CF08 is the prescribed notice that entities must lodge to rely on Class Orders [CO 14/1000] (listed bodies) and [CO 14/1001] (unlisted bodies) for employee incentive scheme offers. There is no lodgement fee and the form is not published on ASIC's public register, but failing to lodge a valid notice could jeopardize the disclosure relief. Compliance teams should confirm that their equity plan processes include accurate and timely CF08 lodgement.

Form CF08 is the "notice of reliance" referenced in the definitions of both class orders. An entity making an employee incentive scheme offer in Australia must lodge it to access the relief. The form is version-dated 2 April 2024, so the document is not a new rule. The item carries a 2026-09-16 date, which most likely reflects when it was published or captured. Teams should confirm whether any substantive change has occurred rather than assume one. Nothing in the content indicates new obligations or amended relief conditions.

The form has two parts: a cover sheet with entity, lodgement contact, and signature details, and a one-page Annexure with issuer details. The cover sheet requires the document type (form code 7048A for listed bodies, 7048B for unlisted bodies), the entity name and identifier, a contact person, and a signed certification that the information is true and complete. The Annexure requires the issuer's name and identifier, its postal address (not the agent's), and the eligible financial market on which a listed issuer trades. It also requires the class of financial products offered (shares, options, incentive rights, units, stapled securities, or interests in registered managed investment schemes, depending on body type). Finally, it asks whether the scheme involves a trustee holding products for participants, a contribution plan, or a loan arrangement. If several entities make the offer, all must be named. The entities may be foreign. An authorized person may sign, including the lodging agent.

On process, the form is sent to applications@asic.gov.au or posted to ASIC in Melbourne. No lodgement fee applies (AUD $0), and no copies of the scheme documents need to be lodged. ASIC can access the form, but it will not appear on the public register. The document specifies no filing deadline, so teams should check the class orders themselves for timing conditions, such as whether notice must precede the first offer. Information provided may include personal information and is handled under ASIC's privacy policy.

Recommended actions:
- Confirm that each employee incentive scheme offer relying on CO 14/1000 or CO 14/1001 has a completed, signed CF08 on file.
- Verify that the correct form code (listed or unlisted) and product classes are selected.
- Confirm the issuer, not the agent, is identified on the Annexure.
- Review the class order conditions for timing and ongoing requirements.
- Assign ownership across legal, company secretarial, and HR or equity administration.
- Keep lodgement evidence, since the public register will not show it.

Risk implications are moderate. Administrative burden is low, but a missing or inaccurate notice could undermine reliance on the relief and expose the entity to prospectus, disclosure, or licensing breaches under the Corporations Act 2001. The lack of public visibility means internal records are the main evidence of compliance. Inaccurate certifications also create regulatory conduct risk for signatories.

Source: Australian Securities and Investments Commission