Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p13
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 13/30)
Character Range: 7812865–7815517

separate schemes; and
 (b) may determine that the schemes are to be taken for the purposes of this Division to not be *related schemes.
 (2) Without limiting subsection 974‑10(5), the Commissioner must, in exercising the power to make a determination under subsection (1), have regard to the following:
 (a) the purpose of the *scheme (considered both as a whole and in terms of its individual components);
 (b) the effects of the scheme and each of its components (considered both as a whole and in terms of its individual components);
 (c) the rights and obligations of the parties to the scheme (considered both as a whole and in relation to its individual components);
 (d) whether the scheme (when considered as a whole or in terms of its individual components) provides the basis for, or underpins, an interest issued to investors with the expectation that the interest can be assigned to other investors;
 (e) whether the scheme (when considered as a whole or in terms of its individual components) comprises a set of rights and obligations issued to investors with the expectation that it can be assigned to other investors;
 (f) any other relevant circumstances.
 (3) The regulations:
 (a) may provide that, in the circumstances specified in the regulations, what would otherwise be a single *scheme is to be treated for the purposes of this Division as 2 or more separate schemes; and
 (b) may provide that the schemes are to be taken for the purposes of this Division to not be *related schemes.

974‑155  Related schemes
 (1) Subject to subsection (3), 2 *schemes are related to one another if they are related to one another in any way.
 (2) Without limiting subsection (1), 2 *schemes are related to each other if:
 (a) the schemes are based on stapled instruments; or
 (b) one of the schemes would, from a commercial point of view, be unlikely to be entered into unless the other scheme was entered into; or
 (c) one of the schemes depends for its effect on the operation of the other scheme; or
 (d) one scheme complements or supplements the other; or
 (e) there is another scheme to which both the schemes are related because of a previous application or applications of this subsection.
 (3) Two *schemes are not related to one another merely because:
 (a) one refers to the other; or
 (b) they have a common party.
 (4) The regulations may specify circumstances in which 2 *schemes:
 (a) are taken to be related to one another; or
 (b) are taken not to be related to one another.

974‑160  Financial benefit
 (1) In this Act:
financial benefit:
 (a) means anything of economic value; and
 (b) includes property and services; and
 (c)