Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For subsection 32(1) of the Act, it is a standard applicable to the operation of approved deposit funds that, except so far as permitted by subregulation (2), a trustee of a fund must not, in that capacity, invest in:
(a) the trustee itself; or
(b) a related body corporate.
(2) Subregulation (1) does not apply to investments by a fund in a related body corporate:
(a) in the case of a life insurance policy--if the body corporate issuing the policy is a life insurance company; or
(b) in the case of a deposit--if the body corporate is an ADI; or
(c) in any other case--if:
(i) the body corporate is an ADI or a life insurance company; and
(ii) the trustee of the fund complies with the rules set out in regulation 13.17AA.