Document ID: chunk:federal_register_of_legislation:C2004A02860:body:0:p5
Version: federal_register_of_legislation:C2004A02860
Segment Type: other
Provision Reference: 
Character Range: 9503–12210

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 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;
    (c) an investment by way of a loan shall be deemed to be made on the day on which the loan agreement is entered into; and
    (d) assets of a fund of a company includes assets consisting of investments made before the commencement of this section.
"(11) In this section—
    'debenture' includes debenture stock, bonds, notes and any other document evidencing or acknowledging indebtedness of a body corporate in
    respect of money that is or may be deposited with or lent to the body corporate, whether constituting a charge on property of the body corporate or not, but does not include—
        (a) a document that merely acknowledges the receipt of money by a body corporate in a case where, in respect of the money, the body corporate issues, in compliance with section 97 of the Companies Act 1981, a document prescribed by sub-section (2) of that section and complies with the other requirements of that section;
        (b) a cheque, order for the payment of money or bill of exchange; or
        (c) for the purposes of the application of this definition to a provision of this Act in respect of which the regulations provide that the word 'debenture' does not include a prescribed document or a document included in a prescribed class of documents—that document or a document included in that class of documents, as the case may be;
    'fund', in relation to a company, means a statutory fund maintained by that company;
    'moneys', in relation to a fund, means moneys that are assets of that fund;
    'share', in relation to a company, means a share in the capital of the company, and includes stock;
    'trust scheme' means a contract, scheme or arrangement made for the purpose of, or having the effect of, providing facilities for the participation by persons, as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of property of any description, including choses in action and money.".

Provisions in relation to the establishment of statutory funds in respect of classes of life insurance business
10. Section 40 of the Principal Act is amended—
    (a) by inserting after sub-section (9) the