Insurance (prudential standard) determination No. 8 of 2006 - Prudential Standard GPS 120 - Assets in Australia
Interests in managed investment schemesInterests in managed investment schemes
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Interests in managed investment schemes
- An amount representing an interest in a managed investment scheme is excluded from being an asset in Australia if:
(a) the responsible entity of the managed investment scheme is incorporated outside Australia;
(b) a trustee or custodian holds the assets of the managed investment scheme (scheme assets) and that person is not a body corporate that is incorporated in Australia;
(c) under the managed investment scheme, the trustee or responsible entity has the right to suspend or delay the redemption of the unit or trust property pending sale of any scheme assets outside Australia; or
(d) the insurer cannot enforce its rights in relation to the managed investment scheme in an Australian court.