Tax Laws Amendment (2011 Measures No. 9) Act 2012 (12 of 2012)

Schedule 6  

Part 24   Equivalent foreign collective investment vehicles

Taxation Administration Act 1953

191   Paragraph 12-402(3)(e) in Schedule 1

Repeal the paragraph, substitute:

(e) an entity:

(i) that is recognised under a *foreign law as being used for collective investment by pooling the contributions of its members as consideration to acquire rights to benefits produced by the entity; and

(ii) that has at least 50 members; and

(iii) the contributing members of which do not have day-to-day control over the entity’s operation;