Document ID: chunk:federal_register_of_legislation:F2015L01835:schedule:1:p4
Version: federal_register_of_legislation:F2015L01835
Segment Type: schedule
Provision Reference: sch 1 (pt 4/11)
Character Range: 9667–12521

of interests in the managed investment scheme to which the delivery products relate; and
           (b) is not able to be traded on a financial market at the time it is acquired.
reference asset:
           (a) in relation to a derivative financial product that is a derivative—means the something else that the amount of the consideration, or the value of the arrangement, is ultimately determined, derived from, or varies by reference to and, if the something else is a rate of interest or inflation, the amount on which that rate is applied under the derivative financial product in determining the amount to be paid or received;
           (b) in relation to a derivative financial product that is a security, managed investment product or financial product referred to in paragraph 764A(1)(ba) of the Act other than an interest in a managed investment scheme—has the meaning given by clause 101A(3A)(a)(ii)(D).
relevant financial year means the financial year for which responsible person is calculating indirect costs.
ultimate reference asset, in relation to a derivative financial product and each reference asset for the derivative financial product, means:
(a) to the extent that the reference asset is:
(i) a derivative financial product; or
(ii) rights in an entity that would be an interposed vehicle if it were held by the superannuation entity or scheme; or
(iii) an index that includes a derivative financial product referred to in sub-paragraph (i) or rights in an entity referred to in sub-paragraph (ii),
the asset or assets from which the returns from the derivative financial product or rights in the entity are determined, or any asset or assets that are held in or through any other derivative financial products or entities that would be an interposed vehicle if they were held as part of the superannuation entity or scheme;
(b) to the extent that the reference asset is not covered by any of the subparagraphs in paragraph (a)—the reference asset.
underlying return, in relation to a derivative financial product, means the return that has been or would be received (as applicable), or loss that would be payable, because of the change in the value of the ultimate reference assets taking into account any leverage, offsets or similar adjustments applied to or between the ultimate reference assets under the terms of each relevant derivative financial product or interest in an interposed vehicle over the relevant financial year for which the derivative financial product was held.
    10 Sub-subparagraph 6(a)(iv) (notional subclause 101A(4))
Omit (excluding the note), substitute:
(4) Despite subclause (1) and (3), indirect costs of a managed investment product or an investment option of a managed investment scheme do not include amounts referred to in subclause (3):
           (a) where the derivative financial product