ELIGIBLE MANAGED FUND INVESTMENTS

(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

TONY BURKE

 Minister for Immigration and Citizenship

Minister for the Arts