Document ID: chunk:federal_register_of_legislation:F2023L01162:body:0:p16
Version: federal_register_of_legislation:F2023L01162
Segment Type: other
Provision Reference: 
Character Range: 36939–39689

are issuers of securities or managed investment products that must be transferred together; and
(b) all wholly-owned entities of the stapled issuers.
stapled issuer means an entity a security or managed investment product of which under the terms on which it is traded on a prescribed financial market or under the constitution of the entity or under the terms of issue, must be transferred together with a security or managed investment product of one or more other entities.
third financial year means, in relation to a financial services licensee, the financial year immediately following the second financial year.
Tier $500,000 class assets means, in relation to a registered scheme or retail CCIV:
(a) real property (including mortgages or leases over or licences in relation to real property) that is intended to be kept for the whole duration of the scheme or relevant sub-fund or, the relevant mortgage; and
                     Note: The duration of a sub-fund is the time for which it is registered.
(b) physical assets which as a matter of reasonable practice can be held by a custodian (such as currency, valuables or precious metals); and
(c) funds held in a regulated trust account by the responsible entity or the retail CCIV which were received from members of the scheme or retail CCIV within the following periods:
(i) if held for the purposes of the initial investment by:
                         (A) the responsible entity as part of the scheme; or
                         (B) the retail CCIV;
                         the previous 6 months; or
(ii) if held pending payment of expenses of the scheme or the retail CCIV—the previous 13 months; and
(d) special custody assets.
value of fund assets means, in relation to a financial services licensee at a time, the aggregate of:
(a) the value of the assets of the retail CCIVs operated by the licensee, excluding the value of any cross-invested shares, where the value is determined as follows:
(i) in the case of assets of the retail CCIV that would be recognised in preparing the balance sheets for the sub-funds of the retail CCIV under Chapter 2M—the value as if at that time such a balance sheet was being prepared; and
(ii) in the case of any other assets of the retail CCIV—the market value at that time; and
                         Note: The value of cross-invested shares is excluded to avoid double counting since the value of the assets underlying those shares is already included.
(b) the value of the scheme property and any other assets (including mortgages held by members of a mortgage scheme and managed as part of the scheme) of the registered schemes operated by the licensee as responsible entity, where the value is determined as follows:
(i) in the case of