{"id":"F2018L01291","name":"Pooled Development Funds Regulations 2018","slug":"pooled-development-funds-regulations-2018","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439778,"registerId":"F2018L01291-fast-fetch-1775955667281","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Pooled Development Funds Regulations 2018","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![Commonwealth Coat of Arms of Australia](image.001.jpeg)\n\n \n\nPooled Development Funds Regulations 2018\n\nI, General the Honourable Sir Peter Cosgrove AK MC (Ret’d), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.\n\nDated 13 September 2018\n\nPeter Cosgrove\n\nGovernor‑General\n\nBy His Excellency’s Command\n\nKaren Andrews\n\nMinister for Industry, Science and Technology\n\n \n\n \n\n \n\n \n\nContents\n\n1 Name\n\n2 Commencement\n\n3 Authority\n\n4 Schedules\n\n5 Definitions\n\n6 Excluded activities\n\n7 Unregulated investments\n\nSchedule 1—Repeals\n\nPooled Development Funds Regulations\n\n \n\n1  Name\n\n  This instrument is the Pooled Development Funds Regulations 2018.\n\n2  Commencement\n\n (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.\n\n \n\n- Commencement information\n- Column 1 Column 2 Column 3\n- Provisions Commencement Date/Details\n- 1. The whole of this instrument The day after this instrument is registered. 15 September 2018\n\n\nNote: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.\n\n (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.\n\n3  Authority\n\n  This instrument is made under the Pooled Development Funds Act 1992.\n\n4  Schedules\n\n  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.\n\n5  Definitions\n\n  In this instrument:\n\nAct means the Pooled Development Funds Act 1992.\n\nauthorised money market dealer means a registered entity (within the meaning of the Financial Sector (Collection of Data) Act 2001) that is included in the category of money market corporations under section 11 of that Act.\n\n6  Excluded activities\n\n (1) For the purposes of the definition of excluded activity in subsection 4(1) of the Act, each of the following activities is prescribed:\n\n (a) retail sale operations;\n\n (b) subject to subsection (2) of this section:\n\n (i) acquisition or disposal of an interest in land; or\n\n (ii) development of land.\n\n (2) Paragraph (1)(b) does not apply if the acquisition, disposal or development is wholly incidental to conducting an activity other than retail sale operations.\n\n7  Unregulated investments\n\n  For the purposes of the definition of unregulated investment in subsection 4(1) of the Act, each of the following kinds of investment is prescribed:\n\n (a) an investment by way of:\n\n (i) a loan to; or\n\n (ii) a deposit with; or\n\n (iii) a debenture of;\n\n  an authorised deposit‑taking institution (within the meaning of the Banking Act 1959);\n\n (b) an investment in the short‑term money market by way of a deposit with an authorised money market dealer.\n\nSchedule 1—Repeals\n\n \n\nPooled Development Funds Regulations\n\n1  The whole of the instrument\n\nRepeal the instrument.\n\n \n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"This instrument repeals the prior Pooled Development Funds Regulations (Schedule 1) and replaces them with a narrower, clearer perimeter: s 6 prescribes excluded activities (retail sale operations and land transactions, with a wholly incidental exception) and s 7 prescribes unregulated investments (loans/deposits/debentures in authorised deposit‑taking institutions and short‑term money‑market deposits with authorised money‑market dealers). The change shifts the regulatory boundary for pooled development funds and alters their compliance obligations."},"complexity_factors":["Short, targeted instrument with limited number of operative provisions (ss 5–7 and Schedule 1).","Cross‑references to other statutes: Pooled Development Funds Act 1992 (authority), Banking Act 1959 (definition of authorised deposit‑taking institution) and Financial Sector (Collection of Data) Act 2001 (definition of authorised money market dealer) — requires checking external definitions.","Conditional wording in s 6(2) creating an 'wholly incidental' exception for land transactions introduces factual/interpretive boundary work for administrators and funds.","Operationally significant classifications: prescribing what counts as an 'excluded activity' (s 6) and an 'unregulated investment' (s 7) changes compliance obligations and permitted fund behaviour.","Complete repeal of prior Pooled Development Funds Regulations (Schedule 1) — administrative transition and harmonisation considerations."],"plain_english_summary":"These Regulations, made under the Pooled Development Funds Act 1992, define which business activities pooled development funds cannot carry out and which investments are treated as ‘unregulated’. They exclude retail sale operations and (except when wholly incidental) land acquisition, disposal or development. They also ring‑fence certain bank and short‑term money‑market instruments as unregulated investments. The instrument repeals the prior regulations and thus alters which fund activities and investments attract the Act’s regulatory perimeter."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The regulations maintain their original narrow purpose of supplementing the Pooled Development Funds Act 1992 with technical definitions and exclusions. The 2018 version appears to be a straightforward remake/repeal of the original 1992 Regulations without expansion into new policy areas."},"complexity_factors":["Very short instrument (only 7 substantive sections plus Schedule 1)","Minimal defined terms (only 2 explicit definitions in section 5)","Simple conditional logic (single exception in section 6(2))","No nested cross-references beyond basic references to the parent Act","Straightforward repeal mechanism in Schedule 1 (repeals previous 1992 Regulations)","Clear prescriptive structure with minimal ambiguity"],"plain_english_summary":"This instrument sets rules for Pooled Development Funds (PDFs), clarifying key terms, barring retail operations and most land dealing (unless minor/incidental), and listing permitted “unregulated” investments like bank deposits, loans with ADIs, and short-term money market placements with authorised dealers. It affects PDFs, the SMEs they fund, and financial institutions — preserving tax‑concession intent by steering funds toward productive investment while allowing safe cash parking."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/pooled-development-funds-regulations-2018","history":"/api/acts/pooled-development-funds-regulations-2018/history","analysis":"/api/acts/pooled-development-funds-regulations-2018/analysis","conflicts":"/api/acts/pooled-development-funds-regulations-2018/conflicts","importantCases":"/api/acts/pooled-development-funds-regulations-2018/important-cases","documents":"/api/acts/pooled-development-funds-regulations-2018/documents"}}