Document ID: chunk:federal_register_of_legislation:F2020L01555:body:0:p6
Version: federal_register_of_legislation:F2020L01555
Segment Type: other
Provision Reference: 
Character Range: 17711–21268

an intermediation role.

It includes fund managers as principal, stockbrokers, insurance brokers, investment advisors and corporations providing infrastructure for financial markets.

Financial institutions means central banks, banking institutions, registered financial corporations, central borrowing authorities, insurance corporations, superannuation funds, financial auxiliaries, securitisers, money-market investment funds, non-money market financial investment funds, and financial institutions n.e.c..

Financial institutions n.e.c. means any financial institution other than central banks, banking institutions, registered financial corporations, central borrowing authorities, insurance corporations, superannuation funds, financial auxiliaries, securitisers, money-market investment funds, and non-money market financial investment funds.

Households means persons whose dealings with other sectors are for personal or housing purposes.

Housing means transactions by households related to the provision of residential property for use by the household sector.

Housing includes transactions to finance or refinance the construction or purchase of newly erected dwellings or existing dwellings, alterations, additions and repairs or to purchase residential land.

It includes finance to the household sector, but excludes:

•                 finance to businesses that develop or purchase residential property; and
•                  finance that is secured against a residential property, but where the funds are used for a purpose other than housing.

Insurance corporations means:
•                 life insurance corporations registered under the Life Insurance Act 1995;
•                 general insurance corporations authorised under the Insurance Act 1973 (or by virtue of determinations made by APRA under the General Insurance Reform Act 2001);
•                 private health insurance corporations registered under the Private Health Insurance (Prudential Supervision) Act 2015;
•                 the Export Finance Insurance Corporation;
•                 private sector and government-owned general and health insurance enterprises, both proprietary and mutual; and
•                 any overseas insurance corporation.

Money-market investment funds means collective investment schemes, such as cash management trusts and cash common funds.  They raise funds by issuing shares or units to the public, either via a prospectus or a distribution channel such as a platform.

The proceeds are invested primarily in money-market instruments, money-market shares/units, and transferable debt instruments with a residual maturity of less than or equal to 12 months, deposits at banks, and instruments that pursue a rate of return that approaches the interest rates of money-market instruments.

National general government means national government departments and agencies whose principal function is to provide non-market goods and services, principally financed by taxes, for free or at a price well below the cost of production. These entities regulate economic activity, maintain law and order and redistribute income and wealth by means of transfers.

It includes:

•                 departments and agencies;
•                 national government unincorporated enterprises that provide goods and services to the government and/or to the public for free or at prices that are not economically significant (e.g. government employee cafeterias, munitions factories);
•                 NPIs controlled and mainly financed