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New Legislative Instrument for Australian Visa Subclass 188 & 888

Updated

There has been a new Legislative Instrument implemented, titled Legislative Instrument, IMMI 13/092 [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][F2013L01571] Migration Regulations 1994 – Specification under regulation 5.19B – Eligible Managed Fund Investments – July 2013, which affects visa subclasses 188 and 888. This Legislative Instrument has been introduced to replace Legislative Instrument IMMI 12/117 from 23 November 2013 onwards.

The qualified managed funds listed in the instrument are listed in the following, with notation indicating whether it is new or indicating how the wording has changed from the preceding instrument.

(a) infrastructure projects in Australia;

(b) cash held by Australian deposit taking institutions (including negotiable certificates of deposit, bank bills and other cash-like instruments);
[Previous instrument: “cash held by Australian deposit taking institutions”]

(c) bonds issued by the Commonwealth Government or a State or Territory government;

(d) bonds, equity, hybrids or other corporate debt in companies and trusts listed  or expected to be listed within 12 months on an Australian Stock Exchange;
[Previous instrument: “bonds, equity, hybrids or other corporate debt in companies and trusts listed on any Australian Stock Exchange”]

(e) bonds or term deposits issued by Australian financial institutions;

(f) real property in Australia;
[Previous instrument: “real estate in Australia”]

(g) Australian Agribusiness;

(h) annuities issued by an Australian registered life company in accordance with section 9 or 12A of the Life Insurance Act 1995; [NEW]

(i) derivatives used for portfolio management and non-speculative purposes which constitute no more than 20 per cent of the total value of the managed fund; [NEW]

(j) loans secured by mortgages over the investments listed in subparagraphs 2(a) to 2(h) of this instrument; and [NEW]

(k) other managed funds that invest in the investments listed in subparagraphs 2(a) to 2(j) of this instrument.
[Previous instrument: “other ASIC regulated managed funds that invest in the above list of investments”]

For more information on the various Legislative Instruments or migration to Australia, please contact ONE derland Consulting at our email or at +61 (08) 9477 5831.There has been a new Legislative Instrument implemented, titled Legislative Instrument, IMMI 13/092 [F2013L01571] Migration Regulations 1994 – Specification under regulation 5.19B – Eligible Managed Fund Investments – July 2013, which affects visa subclasses 188 and 888. This Legislative Instrument has been introduced to replace Legislative Instrument IMMI 12/117 from 23 November 2013 onwards.

The qualified managed funds listed in the instrument are listed in the following, with notation indicating whether it is new or indicating how the wording has changed from the preceding instrument.

(a) infrastructure projects in Australia;

(b) cash held by Australian deposit taking institutions (including negotiable certificates of deposit, bank bills and other cash-like instruments);
[Previous instrument: “cash held by Australian deposit taking institutions”]

(c) bonds issued by the Commonwealth Government or a State or Territory government;

(d) bonds, equity, hybrids or other corporate debt in companies and trusts listed  or expected to be listed within 12 months on an Australian Stock Exchange;
[Previous instrument: “bonds, equity, hybrids or other corporate debt in companies and trusts listed on any Australian Stock Exchange”]

(e) bonds or term deposits issued by Australian financial institutions;

(f) real property in Australia;
[Previous instrument: “real estate in Australia”]

(g) Australian Agribusiness;

(h) annuities issued by an Australian registered life company in accordance with section 9 or 12A of the Life Insurance Act 1995; [NEW]

(i) derivatives used for portfolio management and non-speculative purposes which constitute no more than 20 per cent of the total value of the managed fund; [NEW]

(j) loans secured by mortgages over the investments listed in subparagraphs 2(a) to 2(h) of this instrument; and [NEW]

(k) other managed funds that invest in the investments listed in subparagraphs 2(a) to 2(j) of this instrument.
[Previous instrument: “other ASIC regulated managed funds that invest in the above list of investments”]

For more information on the various Legislative Instruments or migration to Australia, please contact ONE derland Consulting at our email or at +61 (08) 9477 5831.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

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