Corporations Amendment Regulations 2010 (No. 5) (135 of 2010)

Schedule 1   Amendments

[3]   Subregulation 1.0.02 (1), after definition of settlement documents

insert

simple managed investment scheme means a registered management investment scheme which is or was offered because it meets 1 of the following requirements:

(a) the scheme invests at least 80% of its assets in money in an account with a bank on the basis that the money is available for withdrawal:

(i) immediately during the bank’s normal business hours; or

(ii) at the end of a fixed-term period that does not exceed 3 months;

(b) the scheme invests at least 80% of its assets in money on deposit with a bank on the basis that the money is available for withdrawal:

(i) immediately during the bank’s normal business hours; or

(ii) at the end of a fixed-term period that does not exceed 3 months;

(c) the scheme invests at least 80% of its assets under 1 or more arrangements by which the responsible entity of the scheme can reasonably expect to realise the investment, at the market value of the assets, within 10 days.