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 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—