Document ID: chunk:federal_register_of_legislation:C2025C00134:section:43
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 43
Character Range: 348042–349435

43  Complying approved deposit fund
  An entity is a complying approved deposit fund in relation to a year of income for the purposes of this Division if:
 (a) at all times during the year of income when the entity was in existence, the entity was a resident approved deposit fund; and
 (b) any of the following conditions is satisfied:
 (i) the trustee did not contravene any of the regulatory provisions in relation to the entity in respect of the year of income;
 (ii) both:
 (A) the trustee contravened one or more of the regulatory provisions in relation to the entity in respect of the year of income on one or more occasions; and
 (B) each contravention was rectified within a period of 30 days after the trustee became aware of the contravention or within such further period as APRA allows;
 (iii) both:
 (A) the trustee contravened one or more of the regulatory provisions in relation to the entity in respect of the year of income on one or more occasions; and
 (B) APRA is satisfied that the seriousness or frequency, or both, of the contraventions does not warrant the giving of a notice stating that the entity is not a complying approved deposit fund in relation to the year of income;
 (iv) APRA, after considering all relevant circumstances, thinks that a notice should be given stating that the entity is a complying approved deposit fund in relation to the year of income.