I believe ASIC rules do still apply, just slighly different...

I believe ASIC rules do still apply, just slighly different depending on structure. Consult advice by a broker/advisor, remember minority holders are protected to some degree in Australia so mostly scaremongering I believe.

Unlisted shares I have owned before (a previous employer) allowed trading at specific times of the year. I was lucky enough to hold a few when the company was sold by majority holders and was able to participate at that price which was a fair bit above the previous trading price.

I would reccomend people consult with a broker or advisor though to get a wider example.