Document ID: chunk:federal_register_of_legislation:F2022C00868:reg:30:p2
Version: federal_register_of_legislation:F2022C00868
Segment Type: reg
Provision Reference: reg 30 (pt 2/2)
Character Range: 75902–77600

where the counterparty has a principal place of business and in the reasonable opinion of the operator is of low risk; and
 (b) are of any one or more of the types mentioned in paragraph (2)(b).
 (5) Subject to section 33, no more than 20% may be held in assets that:
 (a) relate to the same entity other than an assessed central clearing party; and
 (b) are of any one or more of the following types:
 (i) the types mentioned in paragraph (2)(b);
 (ii) deposits.
 (6) The limits under subsections (2) and (5) do not apply to deposits funded from:
 (a) money received from the issue or sale of interests in the passport fund before the commencement of investment by the passport fund; or
 (b) liquidation of investments in the process of winding up a passport fund, where the operator reasonably believes that complying with any of those subsections would not be in the interests of the members of the passport fund; or
 (c) money received from sales of assets of a passport fund to meet the redemption requests, where the operator reasonably believes that complying with any of those subsections would not be in the interests of the members of the passport fund.
 (7) No more than 35% of the value of the assets of a passport fund may be held in assets that are risk‑assessed government securities relating to the same government entity.
 (8) For this section, an asset or arrangement relates to an entity if the asset is of a type listed in the following table and has the connection with the entity shown:

Item  This type of asset or arrangement…                                                                                                                           …relates to an entity if: