Document ID: chunk:federal_register_of_legislation:F2023L01162:body:0:p8
Version: federal_register_of_legislation:F2023L01162
Segment Type: other
Provision Reference: 
Character Range: 17470–20213

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 out of any assets of a retail CCIV operated by the licensee; or
(ii) a guarantee of the obligations of another member of a stapled group, except where:
(A) the licensee is the responsible entity of a registered scheme that is not part of the stapled group; or
(B) the licensee is the corporate director of a CCIV and a sub-fund of that CCIV 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 forecast of its revenue from the calculation date for the remainder of the first financial year pro-rated to a 12-month period; and
                     Note: revenue is defined below.
(b) for a financial services licensee in its second financial year—the aggregate of the licensee's:
(i) estimate of its revenue for the second financial year to date; and
(ii) forecast of its revenue for the remainder of the second financial year; and
(c) for a financial services licensee in its third financial year—the average of:
(i) the aggregate of the licensee's:
(A) estimate of its revenue for the third financial year to date; and
(B) forecast of its revenue for the remainder of the third financial year; and
(ii) the licensee's revenue for its second financial year; and
(d) for all subsequent financial years of a financial services licensee—the average of:
(i) the aggregate of the licensee's:
(A) estimate of its revenue for the current financial year to date; and
(B) 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.
average value of fund assets means, in relation to registered schemes and IDPSs and retail CCIVs operated by a licensee, the greater of:
(a) the current value of fund assets; and
                     Note: value of fund assets is defined below.
(b) the value of fund assets in the following circumstances:
(i) for a licensee in its first financial year—the average of:
(A) the value