Document ID: chunk:federal_register_of_legislation:F2023C00831:reg:5:p6
Version: federal_register_of_legislation:F2023C00831
Segment Type: reg
Provision Reference: reg 5 (pt 6/11)
Character Range: 13569–16358

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
(ii) guarantee limited to an amount recoverable out of any assets of a retail CCIV operated by the licensee; or
(iii) guarantee of the obligations of a member of a stapled group, except where the licensee is the responsible entity of a registered scheme that 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 reasonable forecast of its revenue from the calculation date for the remainder of the first financial year pro-rated to a 12 month period; and
(b) for a financial services licensee in its second financial year of being authorised to provide the financial services specified in paragraph (1)(a)—the average of:
(i) the aggregate of the licensee's:
(A) revenue for the second financial year to date; and
(B) reasonable forecast of its revenue for the remainder of the second financial year; and
(ii) the licensee's revenue in the first financial year from the calculation date pro-rated to a 12 month period; and
(c) for a financial services licensee in its third financial year of being authorised to provide the financial services specified in paragraph (1)(a)—the average of:
(i) the aggregate of the licensee's:
(A) revenue for the third financial year to date; and
(B) reasonable forecast of its revenue for the remainder of the third financial year; and
(ii) the licensee's revenue for its second financial year; and
(iii) the revenue in the first financial year from the calculation date pro-rated to a 12 month period; and
(d) for all subsequent financial years of a financial services licensee—the average of:
(i) the aggregate of the licensee's:
(A) revenue for the current financial year to date; and
(B) reasonable forecast of its revenue for the remainder of the current financial year; and
(ii) the licensee's revenue for the last preceding financial year; and
(iii) the licensee's revenue for the second preceding financial year.
calculation date means, in relation to a financial services licensee, the