Document ID: chunk:federal_register_of_legislation:F2023L01163:body:0:p9
Version: federal_register_of_legislation:F2023L01163
Segment Type: other
Provision Reference: 
Character Range: 20216–22890

invested in a superannuation product;
                  in respect of which the licensee or an associate may exercise any form of power or control; and
(d) receivables from a trustee of a trust in respect of which the licensee or an associate may exercise any form of power or control;
but, despite anything in the paragraphs above, does not include the following:
(e) a receivable mentioned in paragraph (b) or (d):
(i) to the extent that it is adequately secured; or
(ii) to which all of the following apply:
(A) it is receivable as a result of a transaction entered into by the licensee in the ordinary course of its business;
(B) no part of the consideration in relation to the transaction is, in substance, directly or indirectly invested in the licensee;
(C) the value of the receivable (before any discount is applied) is not more than 20% of the assets less liabilities of the licensee; or
(iii) to which both of the following apply:
(A) it is receivable from an insurance company that is a body regulated by APRA;
(B) the total value of the receivables under this subparagraph is not more than 60% of the adjusted liabilities of the licensee disregarding this subparagraph; or
(iv) to which ASIC has given its consent in writing to the licensee treating the receivable as not being an excluded asset; or
(v) to the extent that it is owing by way of fees from, or under rights of reimbursement for expenditure by the licensee out of property of or in relation to:
(A) a superannuation entity; or
(B) an IDPS; or
(C) a registered scheme, or
(D) a retail CCIV; or
to the extent that the receivable:
(E) exceeds amounts invested by the superannuation entity, IDPS, scheme or retail CCIV in, or lent (other than by way of a deposit with an Australian ADI in the ordinary course of its banking business) directly or indirectly by the superannuation entity, IDPS, scheme or retail CCIV to:
                            (I) the licensee; or
                            (II) a body corporate the licensee or the retail CCIV controls; or
                            (III) a body corporate that controls the licensee or the retail CCIV; or
                            (IV) a body corporate that the licensee's or the retail CCIV's controller controls; and
(F) if receivable by way of fees, represents no more than the amount of fees owing for the previous 3 months; and
(G) if receivable under rights of reimbursement for expenditure by the licensee, has not been receivable for more than 3 months; and
(f) an asset mentioned in paragraph (c) to the extent it is a managed investment product or shares in a CCIV unless any part of the amount invested is, in substance, directly