Pooled Development Funds Regulations (Cth)

 

Statutory Rules 1992

No. 374 1

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Pooled Development Funds Regulations

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Pooled Development Funds Act 1992.

 Dated 23 November 1992.

 BILL HAYDEN

 Governor-General

 By His Excellency’s Command,

JOHN N. BUTTON

Minister of State for Industry,

Technology and Commerce

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Citation

 1. These Regulations may be cited as the Pooled Development Funds Regulations

[NOTE:

 These Regulations commence on gazettal: see Acts Interpretation Act 1901, s.48]

Interpretation

 2. In these Regulations:

“the Act” means the Pooled Development Funds Act 1992.

Unregulated investments

 3. (1) 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:

• (a)

  an investment by way of:

  • (i)

    a loan to; or

  • (ii)

    a deposit with; or

  • (iii)

    a debenture of;

 a bank within the meaning of the Banking Act 1959 or a State bank;

• (b)

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

 (2) In paragraph (1) (b), a reference to an authorised money market dealer is a reference to a registered corporation that is included in a list prepared by the Treasurer under section 10 of the Financial Corporations Act 1974 in the category determined as authorised money market dealers.

Excluded activities

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

• (a)

  retail sale operations;

• (b)

  subject to subregulation (2), acquisition or disposal of an interest in, or development of, land.

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

Remuneration and allowances—appointed members

 5. For the purposes of subsection 59 (1) of the Act:

• (a)

  the prescribed remuneration of an appointed member is:

  • (i)

    in the case of the Chairperson—$24,381 a year; and

  • (ii)

    in any other case—$13,075 a year; and

 (b) the prescribed allowances of an appointed member in respect of each day on which the member is engaged, with the authority of the Board, on business of the Board are:

• (i)

  if the appointed member is required to be absent overnight from his or her usual place of residence:

   (A) in the case of business in the capital of a State or Territory—$300; and

   (B) in any other case—$155; and

• (ii)

  in any case—$45.

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NOTE

1. Notified in the Commonwealth of Australia Gazette on 30 November 1992.