Migration Regulations 1994 - Specification of Eligible Managed Fund Investments - IMMI 13/092

Link to law: https://www.comlaw.gov.au/Details/F2013L01571

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Commonwealth of Australia
 
Migration Regulations 1994
 
ELIGIBLE MANAGED FUND INVESTMENTS
 
(Regulation 5.19B)
 
I, TONY BURKE, Minister for Immigration, Multicultural Affairs and Citizenship, acting under paragraph 5.19B(2)(c) of the Migration Regulations 1994 (‘the Regulations’):
 
1.         REVOKE Instrument number IMMI 12/117 signed on 22 November 2012 specifying eligible managed fund investments for the purpose of regulation 5.19B; AND
 
2.         SPECIFY the following investments in managed fund investments for the purposes of paragraph 5.19B(2)(c) of the Regulations:
 
            (a)        infrastructure projects in Australia;
 
(b)        cash held by Australian deposit taking institutions (including negotiable certificates of deposit, bank bills and other cash-like instruments);
 
(c)        bonds issued by the Commonwealth Government or a State or Territory government;
 
(d)       bonds, equity, hybrids or other corporate debt in companies and trusts listed  or expected to be listed within 12 months on an Australian Stock Exchange;
 
(e)        bonds or term deposits issued by Australian financial institutions;
 
(f)        real property in Australia;
 
(g)        Australian Agribusiness;
 
(h)        annuities issued by an Australian registered life company in accordance with section 9 or 12A of the Life Insurance Act 1995;
 
(i)         derivatives used for portfolio management and non-speculative purposes which constitute no more than 20 per cent of the total value of the managed fund;
 
 
(j)         loans secured by mortgages over the investments listed in subparagraphs 2(a) to 2(h) of this instrument; and
 
(k)        other managed funds that invest in the investments listed in subparagraphs 2(a) to 2(j) of this instrument.
 
This instrument, IMMI 13/092, commences on 23 November 2013.
 
 
Dated             25 . 7               2013
 
                                                                          
 
TONY BURKE
 
                                           Minister for Immigration and Citizenship
Minister for the Arts