Document ID: chunk:federal_register_of_legislation:F2023L01163:body:0:p6
Version: federal_register_of_legislation:F2023L01163
Segment Type: other
Provision Reference: 
Character Range: 12713–15385

for lodgement as part of a financial report under Chapter 2M if the licensee were a reporting entity:
(a) minus the amount of any liability under any subordinated debt approved by ASIC in writing; and
(b) minus the amount of any liability that is the subject of an enforceable right of set-off, if the corresponding receivable is excluded from adjusted assets; and
(c) minus the amount of any liability under a credit facility that is made without recourse to the licensee; and
(d) plus the value of any assets that are encumbered (other than assets that are encumbered merely to support a guarantee provided by the licensee) as a security against another person's liability where the licensee is not otherwise liable, but only up to the lower of:
(i) the amount of that other person's liability; or
(ii) the value of the assets encumbered; and
(e) plus the maximum potential liability of any guarantee provided by the licensee other than:
(i) a guarantee limited to an amount recoverable out of any scheme property (and in the case of a scheme which is not registered, out of any contributions, money, property or income that would be scheme property if the scheme were registered) of a managed investment scheme operated by the licensee or out of any assets of a retail CCIV operated by the licensee; or
(ii) a guarantee of the obligations of another member of a stapled group, except where:
(A) the licensee is the responsible entity of a registered scheme that is not part of the stapled group; or
(B) the licensee is the corporate director of a CCIV and a sub-fund of that CCIV is not part of the stapled group.
amount of an eligible undertaking means the amount that remains payable in accordance with the undertaking at the relevant time despite any amount previously paid under the undertaking less any amount that would be repayable as a liability by the licensee if money were paid.
approved foreign market has the meaning given by section 9.
Note:  The definition of approved foreign market is notionally inserted by ASIC Corporations (Definition of Approved Foreign Market) Instrument 2017/669.
average revenue means:
(a) for a financial services licensee in its first financial year—the licensee's forecast of its revenue from the calculation date for the remainder of the first financial year, pro-rated to a 12-month period; and
Note: revenue is defined below.
(b) for a financial services licensee in its second financial year—the aggregate of the licensee's:
(i) estimate of its revenue for the second financial year to date; and
(ii) forecast of its revenue for the remainder of the second financial year; and
(c) for a financial services licensee in its