Document ID: chunk:federal_register_of_legislation:C2025C00134:section:10:p8
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 10 (pt 8/19)
Character Range: 73835–76496

make a contract;
for the purpose of gaining interest, income, profit or gain.
investment fee has the meaning given by subsection 29V(3).
investment manager means a person appointed by a trustee of a fund or trust to invest on behalf of the trustee, or the trustees, of the fund or trust.
involved, in relation to a contravention, has the meaning given by section 17.
lawyer means a duly qualified legal practitioner and, in relation to a person, means such a practitioner acting for the person.
lead auditor has the meaning given by section 11F.
lease arrangement means any agreement, arrangement or understanding in the nature of a lease (other than a lease) between a trustee of a superannuation fund and another person, under which the other person is to use, or control the use of, property owned by the fund, whether or not the agreement, arrangement or understanding is enforceable, or intended to be enforceable, by legal proceedings.
legal personal representative means the executor of the will or administrator of the estate of a deceased person, the trustee of the estate of a person under a legal disability or a person who holds an enduring power of attorney granted by a person.
lifecycle exception has the meaning given by subsection 29TC(2).
life insurance company means:
 (a) a body corporate registered under section 21 of the Life Insurance Act 1995; or
 (b) a public authority:
 (i) that is constituted by a law of a State or Territory; and
 (ii) that carries on life insurance business within the meaning of section 11 of that Act.
listed security has the meaning given by subsection 66(5).
loan includes the provision of credit or any other form of financial accommodation, whether or not enforceable, or intended to be enforceable, by legal proceedings.
lodge means lodge with the Regulator.
market value, in relation to an asset, means the amount that a willing buyer of the asset could reasonably be expected to pay to acquire the asset from a willing seller if the following assumptions were made:
 (a) that the buyer and the seller dealt with each other at arm's length in relation to the sale;
 (b) that the sale occurred after proper marketing of the asset;
 (c) that the buyer and the seller acted knowledgeably and prudentially in relation to the sale.
member has a meaning affected by section 15B.
member of staff means:
 (a) in relation to APRA—a person who is an APRA staff member within the meaning of the Australian Prudential Regulation Authority Act 1998; and
 (b) in relation to ASIC—a person who is a staff member within the meaning of the Australian Securities and Investments Commission Act 2001; and
 (c) in relation to