Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p8
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 25828–30771

by households. Report these under private non-financial corporations;
                                                                       * family trusts.  Report these under private unincorporated businesses;
                                                                       * self-managed superannuation funds.  Report these as self-managed superannuation funds; and
                                                                       * incorporated businesses.  Report these under non-financial businesses (other than unincorporated businesses) or financial institutions.

Insurance corporations                                            Means life insurance corporations and other insurance corporations.

Life insurance corporations                                       Means life insurance companies and friendly societies that are registered under the Life Insurance Act 1995 and are regulated by APRA. They offer insurance for death or disability and also offer investment and superannuation products.

                                                                  It includes: life insurance companies, life reinsurance companies and friendly societies.

                                                                  It excludes:

                                                                       * insurance companies offering house, car and marine insurance.  Report these under other insurance corporations; and
                                                                       * health benefit funds that are regulated under the Private Health Insurance (Prudential Supervision) Act 2015. Report these under other insurance corporations.

Money-market investment funds                                     Means collective investment schemes, such as cash management trusts and cash common funds, that are constituted as legal entities.  They raise funds by issuing shares or units to the public, either via a prospectus or a distribution channel such as a platform.

                                                                  The proceeds are invested primarily in money-market instruments, money-market shares/units, and transferable debt instruments with a residual maturity of less than or equal to 12 months, deposits at banks, and instruments that pursue a rate of return that approaches the interest rates of money-market instruments.

                                                                  It includes:

                                                                       * cash common funds;
                                                                       * money-market funds; and
                                                                       * cash management trusts.

Non-financial businesses                                          Means private non-financial investment funds, other private non-financial corporations, private unincorporated businesses, Commonwealth Government non-financial corporations and state, territory and local government non-financial corporations.

Non-money-market financial investment funds                       Means collective investment schemes, such as trusts or corporations, that are constituted as legal entities.  They raise funds by issuing shares or units to the public, either via a prospectus or a distribution channel such as a platform.

                                                                  The proceeds are used to purchase financial assets.  The assets are owned by the investment fund and usually managed by licensed fund managers external to the fund. Investors are able to dispose of their units/shares on a well-developed secondary market such as a stock exchange or through readily accessible redemption facilities.

                                                                  It includes:

                                                                       * funds with predominantly overseas property or infrastructure holdings;
                                                                       * listed and unlisted equity trusts (domestic and international);
                                                                       * listed and unlisted mortgage trusts;
                                                                       * listed investment companies; and
                                                                       * non-cash common funds.

                                                                  It excludes: investment funds that predominately invest in non-financial assets.  Report these in private non-financial investment funds.

Non-resident banks                                                Means any non-resident financial institution whose business is to receive deposits (or close substitutes for deposits) and to extend credit or invest in securities on their own account.

Non-resident superannuation funds