ELIGIBLE MANAGED FUND INVESTMENTS

(Regulation 5.19B)

I, CHRIS BOWEN, Minister for Immigration and Citizenship, acting under subregulation 5.19B(2)(c) of the Migration Regulations 1994 (‘the Regulations’) hereby:

1. 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;

(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 on any Australian Stock Exchange;

(e) bonds or term deposits issued by Australian financial institutions;

(f) real estate in Australia;

(g) Australian Agribusiness; and

(h) other ASIC regulated managed funds that invest in the above list of investments.

This instrument, IMMI 12/117, commences on 24 November 2012, immediately after the commencement of the Migration Amendment Regulation 2012 (No. 7).

Dated   22 November  2012

 Chris Bowen

 Minister for Immigration and Citizenship

[NOTE 1: Subregulation 5.19B(1) of the Regulations provides that an investment by a person (the investor) is a complying investment if all of the requirements in this regulation are met.

NOTE 2: Subregulation 5.19B(2) of the Regulations provides that investment must consist of one or more of the following: (a) an investment in a government bond (however described) of the Commonwealth, a State or Territory; or (b) a direct investment in an Australian proprietary company that meets the following requirements: (i) the company is not listed on an Australian stock exchange; (ii) the company has not been established wholly or substantially for the purpose of creating compliance with this paragraph; (iii) the investment is an ownership interest in the company; or (c) an investment in a managed fund (directly or through an investor directed portfolio service) for a purpose specified by the Minister in an instrument in writing for this paragraph.]