Income Tax Assessment (1997 Act) Regulations 2021
SCHEDULES
SCHEDULE 1CNote: See section 393-20.02 .
FARM MANAGEMENT DEPOSITS - STATEMENTS TO BE READ BY DEPOSITORS
PART 1 - STATEMENTS 1 Statements for the purposes of paragraph 393-20.02(a) 1(1)This clause sets out statements for the purposes of paragraph 393-20.02(a) .
Authorised deposit-taking institution
1(2)
The first statement is as follows:
The FMD provider issuing this application form is an authorised deposit-taking institution for the purposes of the Banking Act 1959 .
1(3)
A form used to apply to an FMD provider to make a farm management deposit may only contain the first statement if the FMD provider is an ADI.
Financial Claims Scheme
1(4)
The second statement is as follows:
The account holder may be entitled to payment under the Financial Claims Scheme. Payments under the Financial Claims Scheme are subject to a limit for each depositor in respect of total deposits held by that depositor at a locally incorporated authorised deposit-taking institution. For further information contact the Australian Prudential Regulation Authority or visit https://www.apra.gov.au.
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