Document ID: chunk:federal_register_of_legislation:C2004A02860:body:0:p4
Version: federal_register_of_legislation:C2004A02860
Segment Type: other
Provision Reference: 
Character Range: 7200–9743

nature of the business carried on by the company;
    (f) in the case of a proposed investment under a trust scheme—the nature of the assets of the scheme; and
    (g) whether or not the proposed investment is likely to be in the best interests of the investing company and its policy owners.
"(6) A transaction shall not be invalidated by reason only that it has been entered into in contravention of sub-section (2), but nothing in this sub-section shall affect the liability of any person to a penalty in respect of any such contravention.
"(7) A company shall, within 6 weeks after each 31 December and 30 June, lodge with the Commissioner a statement, in accordance with a form approved by him, of such particulars of investments made by the company—
    (a) in related companies (including subsidiaries); and
    (b) under trust schemes,
as are specified in the form.
"(8) Where, in relation to the investment of moneys of a fund of a company, reference is made in this section to a related company, or to a subsidiary, the reference shall, unless the contrary intention appears, be read as a reference to a company that is related to, or a reference to a company that is a subsidiary of, as the case may be, the first-mentioned company.
"(9) A reference in this section to investment in a company shall be read as a reference to an investment by way of a loan to, or in shares in or debentures of, that company.
"(10) For the purposes of a provision of this section—
    (a) the value as at a particular date (whether or not that date is referred to in that provision) of the assets, or of particular assets, of a fund of a company is the amount disclosed as the value of the assets, or of the particular assets, as the case may be—
        (i) in the last balance-sheet prepared by the company under paragraph 44 (1) (d) and lodged under sub-section 52 (2);
        (ii) if no balance-sheet has been so lodged, in the last audited balance-sheet of the company; or
        (iii) if there is no such audited balance-sheet, in a balance-sheet that is prepared by the company as at a date fixed by the Commissioner by notice in writing and is audited by a person approved under section 47;
    (b) the value as at a particular date (whether or not that date is referred to in that provision) of the assets of a company is that amount disclosed as the value of the assets—
        (i) in the last balance-sheet prepared by the company under paragraph 44 (1) (d) and lodged under sub-section 52 (2);
        (ii) if no balance-sheet has been