EXPLANATORY STATEMENT

Migration Regulations 1994

SPECIFICATION OF DESIGNATED SECURITIES FOR THE PURPOSES OF

SUB-REGULATION 2.26C)

1. This Instrument is made under regulations 1.03  and regulation 2.26C of the Migration Regulations 1994 (‘the Regulations’).

2.                  Regulation 1.03 provides that a “designated security” means an investment in a security that is specified under regulation 2.26C.  SubRregulation 2.26C(1) provides that the Minister may specify, in an Instrument in writing, a security issued by an Australian State or Territory government authority as a security in which an investment is a designated security for the purposes of Part 8 of Schedule 6A to the regulations.

3.                  The purpose of the Instrument is to specify what securities issued by an Australian State or Territory Government constitute an investment accepted as a designated security.

4.                  The Instrument operates to specify the securities for which points may be awarded to General Skilled Migration visa applicants under Part 8 of Schedule 6A to the Regulationsan investment facility referred to in the Schedule attached to this Instrument as an investment facility that can issue a designated security if required under Part 8, Schedule 6A of the Migration Regulations.

5. Consultation was undertaken before the Instrument was made with the West Australian  Government who requested that the West Australia Treasury Corporation be removed from               the list of investment facilitiesGovernment Authorities that provide designated securities.

6. This Instrument, IMMI 07/065, commences on 1 September 2007.