Document ID: chunk:federal_register_of_legislation:F2023L01163:body:0:p5
Version: federal_register_of_legislation:F2023L01163
Segment Type: other
Provision Reference: 
Character Range: 10302–12937

by a market licensee or a financial services licensee; or
                            (II) an approved foreign market; or
(B) an interest in a registered scheme for which withdrawal prices are regularly quoted by the responsible entity of the scheme and the licensee believes on reasonable grounds that withdrawal may be effected within 5 business days;
(C) a share in a retail CCIV for which redemption prices are regularly quoted by the retail CCIV and the licensee believes on reasonable grounds that redemption may be effected within 5 business days; and
(ii) the market value of the financial product is:
(A) if the financial product is a debt instrument—at least 109% of the amount owing; or
(B) otherwise—at least 120% of the amount owing; or
(b) secured by a registered first mortgage over real estate that has a fair market valuation of at least 120% of the amount owing; or
(c) owing from an eligible provider; or
(d) secured by an enforceable security interest over amounts owing to another financial services licensee which themselves are adequately secured.
adjusted assets means, in relation to a financial services licensee, the value of total assets as they would appear on a balance sheet at the time of calculation made up for lodgement as part of a financial report under Chapter 2M if the licensee were a reporting entity:
(a) minus the value of excluded assets that would be included in the calculation; and
(b) minus the value of any receivable that would be included in the calculation, up to the amount that the licensee has excluded from adjusted liabilities on the basis that there is an enforceable right of set-off with that receivable; and
(c) minus the value of any assets that would be included in the calculation that are encumbered as a security against liability to a person that provides a security bond to ASIC up to the amount of the bond; and
(d) minus the value of any assets that would be included in the calculation that may be required to be applied to satisfy a liability under a credit facility that is made without recourse to the licensee up to the amount of that liability excluded from adjusted liabilities; and
(e) plus the amount of any eligible undertaking that is not an asset.
adjusted liabilities means, in relation to a financial services licensee, the amount of total liabilities as they would appear on a balance sheet at the time of calculation made up for lodgement as part of a financial report under Chapter 2M if the licensee were a reporting entity:
(a) minus the amount of any liability under any subordinated debt approved by ASIC in writing; and
(b) minus the amount of