Commonwealth Consolidated Regulations

TELECOMMUNICATIONS (CONSUMER PROTECTION AND SERVICE STANDARDS) (COMMUNICATIONS FUND) REGULATIONS 2005 - SCHEDULE 1

(regulation 4)

       1.       Securities of the Commonwealth, or of a State or Territory, to which paragraph (a) of the definition of financial asset in section 158ZF of the Act does not apply.

       2.       Securities guaranteed by the Commonwealth, a State or a Territory.

       3.       A deposit with a bank, including a deposit evidenced by a certificate of deposit.

       4.       A debt instrument issued or guaranteed by:

                (a)    the government of a foreign country; or

               (b)    a financial institution whose members consist of foreign countries, or of Australia and foreign countries;

                being a debt instrument with a credit rating that is consistent with the sound management of public debt.

       5.       A bill of exchange accepted or endorsed only by a bank.

       6.       A professionally managed money market trust if the responsible Ministers are satisfied that:

                (a)    the only investments managed by the trust are mentioned in item 1, 2 or 3; and

               (b)    a charge over trust assets does not support any borrowings by the trust.

       7.       An Australian dollar denominated debt instrument with an investment grade credit rating.

Note    ' Investment grade credit rating' is a well recognised term in the finance industry which refers to securities with a credit rating from an internationally recognised rating agency such as Standard and Poors, of at least BBB‑ or equivalent for long term investments, and at least A3 or equivalent for short term investments.

       8.       An electronic equivalent of a document which provides evidence of the holding of, or investment in, any of the following assets:

                (a)    a debenture, stock or bond issued by a government;

               (b)    a share in, or debenture of, a body;

                (c)    an interest in a managed investment scheme;

               (d)    a unit of a debenture, share or interest covered by paragraph (a), (b) or (c);

                (e)    a derivative;

                (f)    securities of the Commonwealth, or of a State or Territory, to which paragraph (a) of the definition of financial asset in section 158ZF of the Act does not apply;

                (g)    securities guaranteed by the Commonwealth, a State or a Territory;

                (h)    a professionally managed money market trust of the kind mentioned in item 6 of this Schedule.

       9.       An electronic equivalent of any of the following instruments:

                (a)    a certificate of deposit from a bank;

               (b)    a debt instrument mentioned in item 4 of this Schedule;

                (c)    a bill of exchange accepted or endorsed only by a bank;

               (d)    an Australian dollar denominated debt instrument mentioned in item 7 of this Schedule;

                (e)    a promissory note.