Document ID: chunk:federal_register_of_legislation:C2008A00145:clause:5_102ma:p1
Version: federal_register_of_legislation:C2008A00145
Segment Type: clause
Provision Reference: sch 5 cl 102MA (pt 1/2)
Character Range: 37577–40271

102MA  Arrangements not covered

 (1) For the purposes of paragraph (c) of the definition of eligible investment business in section 102M, the excepted arrangements are those specified in this section.

Note: This section does not affect an arrangement that satisfies paragraph (a) or (b) of that definition.

Leasing or property arrangement

 (2) A right or obligation arising under:
 (a) an arrangement to which Division 42A (about leases of luxury cars) in Schedule 2E applies; or
 (b) an arrangement to which Division 240 of the Income Tax Assessment Act 1997 (about arrangements treated as a sale and loan) applies; or
 (c) a financial arrangement in the form of a loan that is taken to exist by subsection 250‑155(1) of the Income Tax Assessment Act 1997; 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.

Interest in partnership or trust estate

 (3) A right carried by an interest in a partnership or a trust estate, or an obligation that corresponds to such a right, if:
 (a) there is only one class of interest in the partnership or trust estate; or
 (b) the interest is an equity interest in the partnership or trust estate; or
 (c) for a right or obligation relating to a trust estate—the trust estate 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).

General insurance policies

 (4) A right or obligation under a general insurance policy.

Guarantees and indemnities

 (5) A right or obligation under a guarantee or indemnity unless:
 (a) the financial arrangement is one where:
 (i) its value changes in response to changes in a specified variable or variables (such as an interest rate, foreign exchange rate, credit rating, index or commodity or financial instrument price); and
 (ii) there is no requirement for a net investment, or there is such a requirement but the net investment is smaller than would be required for other types of financial arrangement that would be expected to have a similar response to changes in market factors; or
 (b) the guarantee or indemnity is given or entered into in relation to a financial arrangement.

Superannuation and pension income

 (6) A right to receive, or an obligation to provide, a financial benefit (as