Document ID: chunk:federal_register_of_legislation:C2025C00029:section:12:p28
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 12 (pt 28/43)
Character Range: 4016050–4018732

subsections.
Note: Further exceptions are also provided for in section 230‑475.

Leasing or property arrangement
 (2) A right or obligation arising under:
 (a) an *arrangement to which Division 242 (about luxury car leases) applies; or
 (b) an arrangement to which Division 240 (about arrangements treated as a sale and loan) applies; or
 (c) an arrangement that relates to an asset to which Division 250 (about assets put to tax preferred use) applies; or
 (d) an arrangement that, in substance or effect, depends on the use of a specific asset that is:
 (i) real property; or
 (ii) goods or a personal chattel (other than money or a *money equivalent); or
 (iii) intellectual property;
  and gives a right to control the use of the asset; or
 (e) an arrangement that is a licence to use:
 (i) real property; or
 (ii) goods or a personal chattel (other than money or a money equivalent); or
 (iii) intellectual property;
is the subject of an exception.

Interest in partnership or trust
 (3) A right carried by an interest in a partnership or a trust, or an obligation that corresponds to such a right, is the subject of an exception if:
 (a) there is only one class of interest in the partnership or trust; or
 (b) the interest is an *equity interest in the partnership or trust; or
 (c) for a right or obligation relating to a trust—the trust is managed by a funds manager or custodian, or a responsible entity (as defined in the Corporations Act 2001) of a registered scheme (as so defined).
 (4) Subsection (3) does not apply if, assuming that the *financial arrangement were a *Division 230 financial arrangement, a *fair value election, or an *election to rely on financial reports, would apply to it.

Certain insurance policies
 (5) A right or obligation under a *life insurance policy is the subject of an exception unless:
 (a) you are not a *life insurance company that is the insurer under the policy; and
 (b) the policy is an annuity that is a *qualifying security.
 (6) A right or obligation under a *general insurance policy is the subject of an exception unless:
 (a) you are not a *general insurance company; and
 (b) the policy is a *derivative financial arrangement.

Certain workers' compensation arrangements
 (7) A right or obligation in relation to a liability for workers' compensation claims to which Subdivision 321‑C applies is the subject of an exception.

Certain guarantees and indemnities
 (8) A right or obligation under a guarantee or indemnity is the subject of an exception unless:
 (a) assuming that the *financial arrangement were a *Division 230 financial arrangement, it would be the subject of a *fair value election or an *election to rely