157ABQualified investors

#### 157AB Qualified investors 157AB Qualified investors > > (1) In this division, a qualified investor in a unit trust scheme, means a person who holds units in the scheme— > > > > > (a) as trustee of a complying superannuation fund that has no less than 300 members, or > > > > > (b) as trustee of a complying approved deposit fund that has no less than 300 members, or > > > > > (c) as trustee of a pooled superannuation trust, or > > > > > (d) as trustee of a public unit trust scheme, or > > > > > (e) as trustee of a wholesale unit trust scheme, or > > > > > (f) as a listed company, or > > > > > (g) as a life company if the company’s holding of the units is an investment of a statutory fund maintained by the company under the [Life Insurance Act 1995](http://www.legislation.gov.au/) of the Commonwealth, or > > > > > (h) as the Crown, including a statutory body representing the Crown, in right of the Commonwealth, a State or Territory, or > > > > > (h1) as a statutory body that— > > > > > > > (i) is established under a law of the Commonwealth or a State or Territory, and > > > > > > > (ii) is prescribed by the regulations, or > > > > > (i) as, for or on behalf of an entity established and wholly owned by a government agency of the Commonwealth, a State or Territory and primarily used for the purpose of meeting statutory government liabilities or obligations, or > > > > > (j) as agent, nominee or custodian for a person or entity referred to in paragraphs (a)–(i) and in accordance with the person’s terms of appointment as agent, nominee or custodian, or > > > > > (k) as custodian or trustee for an investor directed portfolio service if— > > > > > > > (i) the custodian or trustee holds its interest in the unit trust scheme for no less than 300 clients as investors through the service, and > > > > > > > (ii) none of the clients, individually or together with an associated person, are beneficially entitled to more than 20% of the units held, or > > > > > (l) in a way approved by the Chief Commissioner if the Chief Commissioner is satisfied the units are held by a person— > > > > > > > (i) under the law of an external Territory or a foreign country, and > > > > > > > (ii) in a way that corresponds to paragraphs (a)–(j), or > > > > > (m) in a way approved by the Chief Commissioner if the Chief Commissioner is satisfied the units are held by a wholly-owned subsidiary or wholly owned trust of a person referred to in paragraphs (a)–(l). > > > (2) For this division— > > > > > (a) the units held by a life company as a result of the company’s investment of different statutory funds of the company are held by the company in a separate capacity for each fund, and > > > > > (b) the units held by an agent, nominee or custodian for different persons or entities are held by the agent, nominee or custodian in a separate capacity for each person or entity. > > **s 157AB:** Ins 2023 No 26, Sch 1\[8\]. Am 2024 No 90, Sch 1\[8\] \[9\].