36Acquisitions by funds and schemes

#### 36 Acquisitions by funds and schemes The excluded provisions do not apply in relation to an acquisition of: (a) an interest in Australian land; or (b) an interest in a tenement; or (c) an interest in securities in a mining, production or exploration entity; by any of the foreign persons mentioned in column 1 of the following table in the circumstances mentioned in column 2 of the table. ```html <table cellspacing="0" cellpadding="0" style="width:100%; border-collapse:collapse"><thead><tr><td colspan="3" style="border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Acquisitions by funds and schemes</span></p></td></tr><tr><td style="width:10.08%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:44.96%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 1</span></p><p class="TableHeading"><span>Foreign person</span></p></td><td style="width:44.96%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 2</span></p><p class="TableHeading"><span>Circumstances</span></p></td></tr></thead><tbody><tr><td style="width:10.08%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:44.96%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A life company operating in Australia or a subsidiary of such a life company</span></p></td><td style="width:44.96%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>The acquisition is made by way of investment of its statutory funds (within the meaning of the </span><span style="font-style:italic">Life Insurance Act 1995</span><span>)</span><span style="font-style:italic"> </span><span>primarily for the benefit of owners of policies who are ordinarily resident in Australia</span></p></td></tr><tr><td style="width:10.08%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:44.96%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A body corporate that is:</span></p><p class="Tablea"><span>(a) a general insurer (other than a life company) operating in Australia; or</span></p><p class="Tablea"><span>(b) a subsidiary of such a general insurer</span></p></td><td style="width:44.96%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>The acquisition:</span></p><p class="Tablea"><span>(a) is made from the reserves of the body corporate; and</span></p><p class="Tablea"><span>(b) is consistent with the body corporate’s obligations under the </span><span style="font-style:italic">Insurance Act 1973</span></p></td></tr><tr><td style="width:10.08%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:44.96%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>An Australian business that maintains a superannuation fund for its employees (within the meaning of the </span><span style="font-style:italic">Superannuation Industry (Supervision) Act 1993</span><span>) primarily for the benefit of the members of the fund, or their dependants, who are ordinarily resident in Australia</span></p></td><td style="width:44.96%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>The acquisition is made as an investment of all or part of the assets of that fund</span></p></td></tr><tr><td style="width:10.08%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>4</span></p></td><td style="width:44.96%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A responsible entity of a managed investment scheme registered under section</span><span> </span><span>601EB of the </span><span style="font-style:italic">Corporations Act 2001</span></p></td><td style="width:44.96%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>The acquisition is primarily for the benefit of scheme members ordinarily resident in Australia</span></p></td></tr></tbody></table> ```