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

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Commonwealth of Australia
Migration Regulations 1994
(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
                                           Minister for Immigration and Citizenship
Minister for the Arts