Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p9
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 30426–35406

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                                 Means any non-resident funds designed specifically for the purpose of providing a pension or other income stream on retirement.

                                                                  It excludes:

                                                                       * other superannuation funds that are residents; and
                                                                       * self-managed superannuation funds that are residents.

Non-profit institutions                                           Means any legal entity which:

(NPIs)                                                                 * is created for the purpose of producing goods and services, and;
                                                                       * whose articles of association prohibit it from being a source of income, profit or other financial gain to the units that establish, control or finance the legal entity.
Other insurance corporations                                      Means all insurance corporations registered as a general insurance company or private health insurance company with APRA under the Insurance Act 1973 (or by virtue of determinations made by APRA under the General Insurance Reform Act 2001) or the Private Health Insurance (Prudential Supervision) Act 2015, respectively. This includes general, fire, accident, employer liability, household and consumer credit insurers and health insurance funds. They mainly offer house, car and marine insurance.

                                                                  It includes the following even though these are not registered with APRA:

                                                                       * Export Finance Insurance Corporation; and
                                                                       * private sector and government-owned general and health insurance enterprises, both proprietary and mutual.

                                                                  It excludes:

                                                                       * life insurance companies, life reinsurance companies and friendly societies.  Report these under life insurance companies; and
                                                                       * insurance brokers.  Report these under financial auxiliaries.

Other private non-financial corporations                          Means corporations that are owned and controlled by the non-government sector, whose main activity is producing goods or non-financial services for sale at market prices.  They may be listed on stock exchanges or unlisted.

                                                                  It includes:

                                                                       * all private corporate non-financial enterprises, and non-profit institutions that are market producers of goods or non-financial services, other than private non-financial investment funds;
                                                                       * intra-group financiers (Financial Sector (Collection of Data) Act 2001 Category I) and parent companies with significant holdings of shares in private trading companies;
                                                                       * privately owned schools and hospitals;
                                                                       * corporations that meet the above description that are owned by households (family companies);
                                                                       * any private unincorporated business that is a branch in Australia of a non-resident company and which is not a financial institution;
                                                                       * any private unincorporated business owned and operated by trading corporations (e.g. joint ventures);
                                                                       * holding companies with mainly non-financial corporations as subsidiaries; and
                                                                       * non-financial investment syndicates that are not open to public subscription.

                                                                  It excludes:

                                                                       * publicly listed property trusts.  Report these under private non-financial investment funds; and
                                                                       * unincorporated businesses that are not branches of non-resident companies or joint