{"id":"F2013L01571","name":"Migration Regulations 1994 - Specification of Eligible Managed Fund Investments - IMMI 13/092","slug":"migration-regulations-1994-specification-of-eligible-managed-fund-investments-immi-13-092","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":91370,"registerId":"commonwealth-F2013L01571-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"ELIGIBLE MANAGED FUND INVESTMENTS","sectionType":"part","heading":"ELIGIBLE MANAGED FUND INVESTMENTS","content":"# ELIGIBLE MANAGED FUND INVESTMENTS","sortOrder":0},{"sectionNumber":"(Regulation 5.19B)","sectionType":"part","heading":"(Regulation 5.19B)","content":"# (Regulation 5.19B)\n\nI, TONY BURKE, Minister for Immigration, Multicultural Affairs and Citizenship, acting under paragraph 5.19B(2)(c) of the Migration Regulations 1994 (‘the Regulations’):\n\n1. REVOKE Instrument number IMMI 12/117 signed on 22 November 2012 specifying eligible managed fund investments for the purpose of regulation 5.19B; AND\n\n2. SPECIFY the following investments in managed fund investments for the purposes of paragraph 5.19B(2)(c) of the Regulations:\n\n(a) infrastructure projects in Australia;\n\n(b) cash held by Australian deposit taking institutions (including negotiable certificates of deposit, bank bills and other cash-like instruments);\n\n(c) bonds issued by the Commonwealth Government or a State or Territory government;\n\n(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;\n\n(e) bonds or term deposits issued by Australian financial institutions;\n\n(f) real property in Australia;\n\n(g) Australian Agribusiness;\n\n(h) annuities issued by an Australian registered life company in accordance with section 9 or 12A of the Life Insurance Act 1995;\n\n(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;\n\n  \n\n(j) loans secured by mortgages over the investments listed in subparagraphs 2(a) to 2(h) of this instrument; and\n\n(k) other managed funds that invest in the investments listed in subparagraphs 2(a) to 2(j) of this instrument.\n\nThis instrument, IMMI 13/092, commences on 23 November 2013.\n\nDated 25 . 7 2013\n\nTONY BURKE\n\nMinister for Immigration and Citizenship\n\nMinister for the Arts","sortOrder":1}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2417},"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument exercises the specific delegated power in paragraph 5.19B(2)(c) to specify eligible managed fund investments. It performs the exact function intended by the original regulation, merely updating the list of approved asset classes and revoking the previous specification."},"complexity_factors":["Cross-reference to Regulation 5.19B of the Migration Regulations 1994","Technical financial terminology (hybrids, negotiable certificates of deposit, derivatives)","Percentage limitation on derivatives (20% cap)","Reference to sections 9 and 12A of the Life Insurance Act 1995","Recursive definition allowing investment in other managed funds that invest in the listed categories"],"plain_english_summary":"This instrument defines what counts as “eligible managed fund investments” for high‑net‑worth visa applicants (notably the Significant Investor Visa). It identifies the broad asset types funds may hold — e.g., Australian infrastructure, cash and bank products, government bonds, listed securities, real property, agribusiness, annuities, mortgage‑backed loans and other managed funds — and limits derivatives to portfolio‑management use (max 20%). It matters because it directs where visa capital can be placed and restricts speculative exposure."}},"importantCases":[],"_links":{"self":"/api/acts/migration-regulations-1994-specification-of-eligible-managed-fund-investments-immi-13-092","history":"/api/acts/migration-regulations-1994-specification-of-eligible-managed-fund-investments-immi-13-092/history","analysis":"/api/acts/migration-regulations-1994-specification-of-eligible-managed-fund-investments-immi-13-092/analysis","conflicts":"/api/acts/migration-regulations-1994-specification-of-eligible-managed-fund-investments-immi-13-092/conflicts","importantCases":"/api/acts/migration-regulations-1994-specification-of-eligible-managed-fund-investments-immi-13-092/important-cases","documents":"/api/acts/migration-regulations-1994-specification-of-eligible-managed-fund-investments-immi-13-092/documents"}}