Pooled Development Funds Regulations 2018 (Cth)

Pooled Development Funds Regulations 2018

I, General the Honourable Sir Peter Cosgrove AK MC (Ret’d), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 13 September 2018

Peter Cosgrove

Governor‑General

By His Excellency’s Command

Karen Andrews

Minister for Industry, Science and Technology

Contents

1Name

This instrument is the Pooled Development Funds Regulations 2018.

2Commencement

1. (1)

   Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1. The whole of this instrument	The day after this instrument is registered.	15 September 2018

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

1. (2)

   Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3Authority

This instrument is made under the Pooled Development Funds Act 1992.

4Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

5Definitions

In this instrument:

Act means the Pooled Development Funds Act 1992.

authorised money market dealer means a registered entity (within the meaning of the Financial Sector (Collection of Data) Act 2001) that is included in the category of money market corporations under section 11 of that Act.

6Excluded activities

1. (1)

   For the purposes of the definition of excluded activity in subsection 4(1) of the Act, each of the following activities is prescribed:

   1. (a)

      retail sale operations;

   2. (b)

      subject to subsection (2) of this section:

      1. (i)

         acquisition or disposal of an interest in land; or

      2. (ii)

         development of land.

2. (2)

   Paragraph (1)(b) does not apply if the acquisition, disposal or development is wholly incidental to conducting an activity other than retail sale operations.

7Unregulated investments

For the purposes of the definition of unregulated investment in subsection 4(1) of the Act, each of the following kinds of investment is prescribed:

1. (a)

   an investment by way of:

   1. (i)

      a loan to; or

   2. (ii)

      a deposit with; or

   3. (iii)

      a debenture of;

an authorised deposit‑taking institution (within the meaning of the Banking Act 1959);

1. (b)

   an investment in the short‑term money market by way of a deposit with an authorised money market dealer.

Schedule 1—Repeals

Pooled Development Funds Regulations

1

The whole of the instrument

Repeal the instrument.