Document ID: chunk:federal_register_of_legislation:F2025C00115:clause:2_2:p24
Version: federal_register_of_legislation:F2025C00115
Segment Type: clause
Provision Reference: sch 2 cl 2 (pt 24/178)
Character Range: 1483990–1486752

or both of conditions 8502 and 8515 may be imposed.

Subclass 164—State/Territory Sponsored Senior Executive (Provisional)
164.1—Interpretation

164.111
  In this Part:
major business means a business (other than a government business enterprise) the annual turnover of which was at least AUD10 000 000 in at least 2 of the 4 fiscal years immediately before the application is made.
Note 1: appropriate regional authority, AUD, fiscal year, ownership interest and qualifying business are defined in regulation 1.03.
Note 2: As to beneficial ownership of an asset or ownership interest, see regulation 1.11A.
164.2—Primary criteria
Note: The primary criteria must be satisfied by at least 1 member of a family unit. The other members of the family unit who are applicants for a visa of this subclass need satisfy only the secondary criteria.
164.21—Criteria to be satisfied at time of application

164.211
  The applicant has overall had a successful business career.

164.212
  For a total of at least 2 years in the 4 years immediately before the application is made, the applicant:
 (a) occupied a position in the 3 highest levels of the management structure of a major business; and
 (b) was responsible for strategic policy development affecting a major component or a wide range of operations of that major business.

164.213
 (1) The business and personal assets of the applicant, the applicant's spouse or de facto partner, or the applicant and his or her spouse or de facto partner together:
 (a) have a net value of at least AUD500 000 that is available for the conduct or establishment of a business in Australia; and
 (b) are lawfully acquired and available for transfer, and capable of being transferred, to Australia within 2 years after the grant of a Subclass 164 visa to the applicant.
 (2) The applicant, the applicant's spouse or de facto partner, or the applicant and his or her spouse or de facto partner together, have business and personal assets, in addition to the assets mentioned in subclause (1), that the appropriate regional authority is satisfied are of a sufficient net value to settle in Australia.

164.214
  The applicant:
 (a) is less than 55 years old; or
 (b) is proposing to establish or participate in a business that the appropriate regional authority has determined is of exceptional economic benefit to the State or Territory where the authority is located.

164.215
  Neither the applicant nor his or her spouse or de facto partner (if any) has a history of involvement in business activities that are of a nature that is not generally acceptable in Australia.

164.216
  The applicant genuinely has a realistic commitment, after entry to Australia as the holder of a Subclass 164 visa:
 (a) either:
 (i) to establish a